This Actuarial Associate role will support the Venerable Product Management team by assisting with cross-functional projects related to the management of our inforce block of annuities and life insurance. This position requires developing an understanding of business operations and assists with analysis under guidance and oversight from more senior team members. It also supports the ongoing administration of the various products on each system. This individual will be a key individual contributor on specific projects and will participate in the Actuarial Student Program, including rotation across various functional areas.Primary Responsibilities:
- Supporting the system administration of variable annuity block, fixed annuities (FA), fixed indexed annuities (FIA), single premium immediate annuities (SPIA) and variable life business.
- Applying actuarial techniques and business knowledge to perform day-to-day work and to support the Product Management team on cross-functional projects such as those related to administrative system conversions, regulatory updates, strategic initiatives and product related updates.
- Conducting monthly, quarterly and annual rate setting for fixed indexed annuities, fixed annuities, and variable annuity fixed accounts, ensuring rate accuracy and supporting process improvements
- Gathering data / inputs, producing calculations, summarization / communication / presentation of results to senior team members or to a broader team, and preparation of documentation.
- Driving improvements to processes and projects with goals of efficiency and accuracy
- Applying advanced computer skills to analyze data, develop models, and support annuity product management. (Excel, VBA, SQL)
- Maintaining updated documentation on all processes
- May include communicating both within and outside of Venerable such as with auditors, actuarial outsourcing partners or other vendors
Knowledge, Skills and Abilities:
- Bachelor’s degree in Mathematics, Actuarial Science, Finance or related business discipline
- Completion of 0-4 Actuarial Exams or participation in 1 or more Actuarial Internships; 1-3 years finance, insurance industry, or actuarial experience
- Strong skills in 1 or more of the following: Excel spreadsheets, databases, actuarial projection/valuation software, programming (e.g. R, VBA, SQL)
- Basic understanding of insurance products and operations
- Uses existing procedures and basic problem-solving skills to solve standard problems; analyzes information and standard practices to make informed decisions
- Leverages strong oral and written communication skills to readily and effectively collaborate with peers, managers, shares information and asks questions
- Ability to manage competing priorities and deadlines
- Strong desire to learn and grow; willing to rotate to other actuarial roles.
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Venerable Values:
Every position at Venerable has responsibility for living out the company's values as described here:
We are Courageous -
We think critically, ask "why?" and seek out creative solutions.
We are Curious - We take calculated risks, learn from out failures, and challenge traditional ways of thinking.We are Connected - We are connected to each other, our customers and our community.
