[Hiring] Actuarial Associate @The Standard

Role Description

The Standard’s Individual Annuities division is currently looking to add an Actuarial Associate to our team. This role will play a support role in creating the models, data processes, and analytics needed to support our VM-22 implementation.

This role is ideal for someone that is process-oriented, enjoys solving new problems, effectively explains results, and wants to develop their modeling skill set. This role will further support the development and refinement of our processes to implement VM-22 in pricing, FP&A, ALM, and governance frameworks.

As part of this team, you will have opportunities to support other modeling initiatives in our near-term future state, potentially including strategic initiatives such as:

• Reinsurance to a Bermuda affiliate
• Strategic asset allocation
• ALM reporting

Key Responsibilities:

• Applies understanding of functional area to support enhancement of AXIS models and processes supporting VM-22 valuation.
• Support key element of VM-22 model implementation, such as model improvements, including structure, assumptions, and runtime optimization.
• Develop a working understanding of VM-22 in order to effectively support governance needs (change management, controls, validation readiness).
• Partner with valuation, pricing, FP&A, and investment management to ensure consistency and usability of results.
• Analyze model output to identify drivers, limitations, and opportunities for improving model performance and scalability (automation, workflow, cloud integration where applicable).
• Partners with the core VM-22 team as well as other members of the actuarial community of practice.

Note: This role may be filled at either of the levels noted below based upon applicable experience and career path:

• Actuarial Associate III: 3+ yrs. hands-on actuarial experience & ASA required. Applies understanding of functional business area to support model creation and enhancements. Seeks out industry and professional information to enhance individual annuities acumen. (Salary Range: $94,500.00 - $138,500.00)
• Actuarial Associate II: 2+ yrs. hands-on actuarial experience & successful completion of a minimum of 3 actuarial exams. Applies understanding of functional business area to support model creation and enhancements. Seeks out industry and professional information to enhance individual annuities acumen. (Salary Range: $82,250.00 - $120,750.00)

Qualifications

• Bachelor’s degree (or equivalent combination of education and experience) in mathematics, actuarial science, business, or a related field preferred.
• Certification: See requirements above based on the level of the role.
• 3+ years of experience sufficient to have gained a seasoned actuarial business perspective.
• Prior modeling experience with GGY AXIS (preferred).
• Hands-on experience with Individual annuities (preferred).
• Asset modeling and Asset Liability Management (ALM) experience (preferred).
• Projection and Valuation modeling experience (CFT, LDTI MRB, VM-20, or VM-21) (strongly preferred).
• Python experience (preferred).
• Strong analytical skills, attention to detail, and the ability to own and explain reserve movements.

Requirements

• Independently drives work forward and takes responsibility for achieving job requirements, tasks, and objectives.
• Approaches business challenges from a broad perspective and anticipates and removes barriers to accomplish business objectives.
• Contributes actuarial, financial, and industry expertise combined with unique product line knowledge and pursues exceptional results.
• Acts independently to determine methods and procedures on new assignments.
• Plays a significant role as a resource/mentor to others in the actuarial career.
• Excellent communication skills and the ability to develop positive internal and external stakeholder relationships.
• Ability to take ambiguous tasks and align them to the working model of the team to ensure execution.

Benefits

• A rich benefits package including medical, dental, vision, and a 401(k) plan with matching company contributions.
• An annual incentive bonus plan.
• Generous paid time off including 11 holidays, 2 wellness days, and 8 volunteer hours annually — PTO increases with tenure.
• A supportive, responsive management approach and opportunities for career growth and advancement.
• Paid parental leave and adoption/surrogacy assistance.
• An employee giving program that double matches your donations to eligible nonprofits and schools.