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Associate Actuary Hedge Model Development

Company: Transamerica
Location: Cedar Rapids
Posted on: September 12, 2019

Job Description:

Job Description Summary

The people of Transamerica bring expertise, creativity, heart and diverse thought to everything that we do-and to the communities where we live and work

Are you interested in hedge prototype models for VA, IUL and FIA models? Are you interested in working with financials within the insurance space? Can you effectively communicate, both verbally and in writing, and have advanced mathematical and analytical knowledge?

If your answer is yes, we are looking for you!

Job DescriptionWhat You Will Do:

You will be responsible for developing and maintaining hedge prototype models of the various hedging models, ensuring model changes to the production hedge models are accurate, determining and communicating the downstream financial impacts model changes. You will work closely with:


  • Model Development Team: Provide business requirements, and provide sign-off on model changes
  • Pricing teams: To understand and develop new product features
  • Valuation Reporting Team: Provide downstream financial impacts

    What You Will Learn:

    Working with Transamerica and their Variable Annuity book with approx. $70bn in account value and covers GMDB, GMIB, GMWB and GMAB riders. Learn to manage the market risks associated with this business a number of hedge programs are in place to protect IFRS earnings (Dynamic hedge programs) and Capital Generation (macro hedge programs) from adverse market impacts. Also gain exposure to Transamericas other blocks of business such as IUL, FIA and SVS which also have their own hedge programs.

    What Success Looks Like:

    • Responsible for Building and Maintaining hedge prototype models for VA, IUL and FIA models
    • Provides business requirements for future model developments
    • Determines Statutory and IFRS impacts for model changes
    • Validate hedge impacts to model are within expectation
    • Help improve and modernize the current User Acceptance Testing process
    • May supervise a small team of employees which will develop prototype models that other teams within ALM can use.
    • Work with model development team as part of modernization effort

      What You Need:

      • FSA or equivalent professional designation along with Bachelor's Degree in Actuarial Science, Mathematics, Statistics, Economics or related field and 6 years of relevant experience. In lieu of Bachelor's, will accept Master's in a listed discipline and 4 years of relevant experience. In lieu of FSA will accept ASA or equivalent professional designation and 10 years of relevant experience.
      • Demonstrates high quality leadership, judgment, organization and prioritization skills.
      • Effectively communicates, both verbally and in writing, advanced mathematical and analytical concepts to various audiences.
      • Works well under pressure and within time constraints to effectively accomplish individual and team objectives.
      • Programming experience such as C#, SQL, VBA preferred
      • Valuation Reporting experience, Fair Value Reserves, AG43 / C3P2 Capital calculations, DAC or Cashflow Modeling Experience is preferred
      • Knowledge of VA, IUL and FIA product lines is a plus

        What You Receive:

        A Comprehensive Wealth + Health package. Its our passion to empower people, and especially our employees, to add years to their lives and more life to their years. That means a healthy account balance and a healthy body to match. As youll come to discover, Wealth + Health is a central part of everything we do!

        Wealth Benefits; Competitive Pay, Bonus, and Benefits Package; Pension Plan, 401k Match, Employee Stock Purchase Plan, Tuition Reimbursement, Disability Insurance, Stock Purchase Plan, Employee Discounts, Career Training & Development Opportunities, Certification Sponsorship

        Health and Work/Life Balance Benefits; Be Well Company sponsored holistic wellness program which includes Wellness Coaching and reward dollars, Parental Leave, Adoption Assistance, Employee Assistance Program, College Coach Program, Back-up Care Program, Paid Time Off to Volunteer, Employee Matching Gifts Program, Employee Resource Groups, Inclusion and Diversity Programs, Employee Recognition Program.

Keywords: Transamerica, Cedar Rapids , Associate Actuary Hedge Model Development, Accounting, Auditing , Cedar Rapids, Iowa

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