What are the responsibilities and job description for the Actuary (Employee Benefits) position at National Guardian Life Insurance Company?
We are adding an Actuary (Employee Benefits) to our team!
Who We Are:
Since 1909, National Guardian Life Insurance Company (NGL) has been one of America’s most successful and highly rated independent life insurance companies. We specialize in a suite of innovative products for life’s journey, giving people the financial stability, careful guidance and peace of mind to lead a life filled with confidence, dignity and grace.
NGL's Core Values – integrity, dependability, collaboration, compassion and growth are a foundation of our company and help to build on the interactions we have with our policyholders, partners, funeral homes and each other. We believe in creating an inclusive, welcoming environment for all where diversity is celebrated, and everyone is encouraged to live their best, most authentic self. We offer Employee Resource Groups for employees to get involved, learn, network, and offer professional and personal development opportunities.
With over 100 years of experience, our passion is to serve people. Learn more.
Work Environment: NGL offers a flexible work environment where employees can work fully remote, hybrid or onsite at our Madison, Wis. office. We support virtual working arrangements in certain states outside of WI.
A Day in the Life:
The Actuary, Employee Benefits serves as the strategic owner of actuarial and financial analysis related to Employee Benefits (Supplemental A&H) line of business. This position is responsible for applying financial management, product development/management and leadership skills to manage and grow the profitability of the Employee Benefits (EB) product lines. The Actuary, Employee Benefits assists in the development of business plans, new products and deal negotiations through collaboration with internal teams to ensure corporate standards are met. This includes analysis and oversight of partner underwriting, experience and pricing capabilities as well as development of TPA, marketing and reinsurance agreements.
Primary Responsibilities:
- Responsible for development of new Employee Benefits business which includes the assessment of the integrity, business effectiveness, negotiation of agreements, due diligence and profit potential of prospective products and partners.
- Responsible for the pricing and product development related to Employee Benefits, which includes oversight of new business underwriting, pricing, renewal rating, filing and product design updates as well as negotiation of the deal variables.
- Accountable for inforce management of NGL’s Employee Benefits deals, which includes reporting of profitability by product lines, renegotiation of deal variables, addressing profitability deficiencies, experience studies, etc.
- Partner effectively with various levels of management and other stakeholders to generate high-quality decisions.
- Research and monitor developments in actuarial industry and translate to informed business decisions.
- Manage and maintain actuarial consulting and reinsurance relationships.
- Perform other duties as assigned.
Essential to Your Success:
- Detailed understanding of Supplemental Health products (Dental, Vision, Accident, Hospital Indemnity, CI, etc.)
- Demonstrated ability to apply actuarial principles to complex situations
- Excellent problem-solving and technical skills
- Excellent communication skills both written and verbal especially of technical ideas to non-technical audience
- Strong relationship management and leadership skills
- Ability to learn quickly and use computer software tools effectively
- Ability to travel to conferences and/or marketing meetings
Education Requirements:
Min/Preferred:
- Bachelor's degree in Actuarial Science or Mathematics, or equivalent experience.
- Fellow of the Society of Actuaries (FSA)
- Associate of the Society of Actuaries (ASA), and membership in the American Academy of Actuaries (MAAA) required.
Years of Experience:
Min/Preferred:
- A minimum of seven years of related actuarial experience with progressively more responsibility with a concentration in Supplement Health Products and strong understanding of product, distribution, and regulatory requirements required.
- A minimum of three years of demonstrated experience in leadership within an Actuarial team influencing senior management or critical stakeholders experience required.
What We Offer:
At NGL, we provide a comprehensive Total Rewards package that includes competitive base pay and benefits designed to offer solutions to help meet your unique life needs.
Benefits:
- 20 days of Paid Time Off growing to 25 days after 5 years
- 11 Paid Holidays (10 company holidays and 1 personal holiday of your choice)
- Health care, dental and vision plans
- Up to $1,500 (Family) or $1,000 (Single) annually towards a Health Savings Account
- Annual bonus based on company performance
- Paid Parental Leave
- 401(k) match up to 9%
- Paid Sabbatical after 8 years
- Paid Volunteer Time
- Education Assistance Program
- Employee Recognition Program
- And much more!
Click here to learn more about our comprehensive Total Rewards program.
NGL is committed to creating a diverse environment and is an Equal Opportunity Employer. Qualified applicants will be considered for employment without regard to race, color, creed, religion, national origin, ancestry, citizenship status, age, disability, sex or gender (including pregnancy, childbirth and related medical conditions), gender identity or gender expression (including transgender status), sexual orientation, marital status, military service and veteran status, physical or mental disability, protected medical condition as defined by applicable state or local law, genetic information, or any other characteristic protected by applicable federal, state, or local laws.
NGL is committed to providing reasonable accommodations to qualified individuals with disabilities in the recruitment process. To request an accommodation, please contact hrmadison@nglic.com.
