What are the responsibilities and job description for the Actuarial Specialist, Product position at American Equity?
At American Equity Investment Life Holding Company®we offer leading annuity products that help empower our clients to fulfill their needs and wants in retirement. Our success comes from hiring high-energy individuals who embody the beliefs that drive our unique culture. We currently fund over half a million retirements nationwide, and have been headquartered in West Des Moines, Iowa, for over twenty-five years with satellite offices in Charlotte, NC and New York, NY.
The Actuarial Specialist is responsible for creating calculator tools that ensure mathematical accuracy in policy administration and illustration systems, as well as consistency with contract language. The incumbent exercises considerable discretion and judgment working under minimal guidance.
Essential Duties And Responsibilities
Direct Reports: 0
Education And/Or Experience
The Actuarial Specialist is responsible for creating calculator tools that ensure mathematical accuracy in policy administration and illustration systems, as well as consistency with contract language. The incumbent exercises considerable discretion and judgment working under minimal guidance.
Essential Duties And Responsibilities
- Creates and maintains parallel actuarial calculators as a source for an system accuracy
- Serves as main point of contact for team towards the purpose of new business system validation
- Reviews marketing brochures and policy page changes for accuracy.
- Applies principles of finance and mathematics in providing analytical support to Product
- Reviews and interprets contract language relating to policy benefit calculations
- Provides calculation support of policy administration, values and benefits
- Requests, tests, and approves applicable system changes assisting with IT projects
- Researches policy information in policy administration system to ensure consistency in calculations
- Contributes to department-wide process improvement efforts, including training product team on company process improvement program tools and methodologies, identifying inefficiencies and developing and prioritizing corrective actions
- Provides work direction to junior product/actuarial analysts and interns
- Performs other related work as assigned
Direct Reports: 0
Education And/Or Experience
- Bachelor’s degree in actuarial science, finance, mathematics, statistics or other related field of study
- Six (6) years of progressively responsible actuarial/financial analysis or related experience; or equivalent combination of education and/or experience is required
- Knowledge of policy values and benefit calculations for Fixed Indexed Annuities and/or Indexed-Linked Annuities
- Expert/advanced level of ability in Microsoft Excel is a must.
- Ability to build annuity transaction product calculator tools
- Strong systems aptitude
- Strong customer service orientation
- Effective verbal and written communication skills with ability to effectively present information and respond to questions
- Advanced mathematical skills and strong attention to detail
- Ability to work cooperatively and successfully with employees, customers, and other outside third parties
- Strong organizational and planning skills
- Ability to read, analyze, and interpret general business periodicals, professional journals and technical/operational procedures
- Strong analytical and problem-solving skills with ability to define problems, collect data, establish facts, and draw valid conclusions on practical problems that deal with a variety of concrete variables in situations where only limited standardization exists
- Ability to successfully adjust to changing priorities and meet deadlines in a fast-paced work environment
- Minimal to no travel is required in this position
