Actuary (Level 2)

Company: Aegon
Location: Cedar Rapids
Posted on: June 12, 2021

Job Description:

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 Do you have a passion for supporting special projects? Do you want to lead and manage projects, either for Modernization initiatives or BAU items? Are you able to assist with complex and new regulatory changes and / or modeling concepts? If your answer is yes, we are looking for you!

In this position the Actuary will be a key role on the Transamerica annuity actuarial model development team. The model development team is responsible for the maintenance and development of actuarial models for emerging products and standards. The actuary in this role will have an opportunity to work with ALFA models for variable annuities, fixed annuities, and payouts. These models produce information relating to, for example, statutory reserves, IFRS 17 liabilities, IFRS 4 liabilities, tax reserves, market consistent liability valuations, economic capital, and asset adequacy testing.

Responsibilities

• Lead model development initiatives that improve and expand existing annuity ALFA models
• Provide guidance and expertise to junior developers on methodology, model implementation, and testing
• Educate model owners about new model features developed and support related production implementation efforts
• Work with the methodology team, business unit partners, and risk teams developing design solutions that conform to existing standards that are applicable to all models
• Support the implementation of IFRS 17 calculations across all annuity models
• Contribute to the development of modeling best practices, standards, and frameworks applicable to ALFA models
• Collaborate with the technology team as it relates to any support, maintenance, or enhancement of existing ALFA on-prem and cloud grid infrastructures
• Serve as a representative of the model development team on internal and, possibly, external committees

Qualifications

• FSA or equivalent professional designation along with a Bachelor's Degree in Actuarial Science, Mathematics, Statistics, Economics or related field and 7+ years of relevant experience. In lieu of Bachelor's, will accept Master's in a listed discipline and 5+ years of relevant experience. In lieu of FSA designation, will accept ASA or equivalent professional designation and 12+ 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.
• Excellent computer skills.
• Expertise in Milliman's ALFA strongly preferred
• Expert knowledge in annuity products and regulation preferred
• Familiar with stochastic modeling using ALFA Preferred
• Experience with C/C++ strongly preferred

Please note that the compensation information that follows is a good faith estimate for this position only and is provided pursuant to the Colorado Equal Pay for Equal Work Act and Equal Pay Transparency Rules. It is estimated based on what a successful Colorado applicant might be paid. It assumes that the successful candidate will be in Colorado or perform the position from Colorado. Similar positions located outside of Colorado will not necessarily receive the same compensation.

Compensation:

The salary for this position generally ranges between $125,000 - $160,000. This range is an estimate, based on potential employee qualifications, operational needs and other considerations permitted by law. The range may vary above and below the stated amounts, as permitted by Colorado Equal Pay Transparency Rule 4.1.2.

Bonus Eligibility:

This position is also typically eligible for an annual bonus based on the Company Bonus Plan/Individual Performance and is at Company Discretion at a rate of 20%.

Working Conditions

Normal office environment or remote position available. Limited travel may be required.

What You Receive:

• A Comprehensive Wealth + Health package. It's 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 you'll 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.

Our commitment to inclusion & diversity means that we value differences. We encourage the unique perspectives of persons and are dedicated to creating a respectful and inclusive work environment.

Keywords: Aegon, Cedar Rapids , Actuary (Level 2), Other , Cedar Rapids, Iowa