Job Description
Job Description Associate Actuary, Life Valuation Our client is seeking an experienced Associate Actuary to join its Life Insurance actuarial team. This role is responsible for the valuation, analysis, and reporting of reserves and other actuarial financial statement items for life insurance products, with a primary focus on Indexed Universal Life (IUL) business. The position also supports experience studies, assumption updates, profitability analysis, financial reporting, and strategic actuarial initiatives.
The ideal candidate possesses deep expertise in statutory valuation requirements, Principle-Based Reserves (PBR), and GAAP accounting for life insurance products, along with strong analytical and communication skills.
Key Responsibilities - Perform actuarial valuation for life insurance products with an emphasis on Principle-Based Reserves (PBR).
- Conduct experience studies, recommend assumption updates, and quantify financial impacts.
- Analyze reserve movements, policyholder behavior, and emerging business trends.
- Support annual PBR reporting and assist with communications related to regulatory and audit requirements.
- Prepare and review actuarial reporting for Statutory, GAAP, and Tax financial reporting.
- Analyze and communicate results related to GAAP accounting standards, including FAS 97 and FAS 133.
- Partner with cross-functional teams including Pricing, Financial Planning & Analysis, Inforce Management, Modeling, and Tax to provide actuarial insights and business recommendations.
- Contribute to ongoing process improvements and support special actuarial projects as needed.
Qualifications - Fellow of the Society of Actuaries (FSA) with 7+ years of life insurance actuarial experience, or Career Associate of the Society of Actuaries (ASA) with 10+ years of relevant experience.
- Bachelor's degree in Actuarial Science, Mathematics, Statistics, Economics, or a related quantitative discipline.
- Minimum of 5 years of experience in actuarial valuation, financial reporting, or actuarial modeling within the life insurance industry.
- Strong knowledge of Principle-Based Reserves (PBR), statutory valuation, and life insurance accounting.
- Experience with actuarial modeling platforms such as PolySystems, MG-ALFA, GGY AXIS, or comparable software.
- Proficiency with SQL, Databricks, Microsoft Access, or similar data management tools.
- Excellent analytical, problem-solving, and quantitative skills.
- Strong written and verbal communication skills with the ability to present complex actuarial concepts to a variety of stakeholders.
- Demonstrated ability to collaborate across departments and contribute to continuous process improvement.
- Knowledge of actuarial governance, controls, and risk management frameworks.
- Experience supporting regulatory reporting, audits, and strategic actuarial initiatives.
Compensation - $125,000-$180,000 base salary, plus comprehensive benefits and potential incentive compensation.
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