What are the responsibilities and job description for the Annuity Pricing Actuary position at Aspida Financial Services LLC?
Company Description:
Aspida Holdings Ltd., through its subsidiaries (collectively “Aspida”), is focused on providing retirement and reinsurance solutions, having operations in the U.S. and Bermuda with total assets of $16.6 billion as of June 30, 2024. Aspida, through its U.S. platform – Aspida Life Insurance Company – is focused on leveraging technology and agility to help clients achieve – and protect – their dreams. Its Bermuda-based reinsurance platform, Aspida Life Re, is focused on providing efficient and secure life and annuity reinsurance solutions. Aspida seeks to be a trusted partner in its clients’ financial security while driving its growth by doing good for the communities it serves. Aspida is backed by Ares Management Corporation, which, through the Ares Insurance Solutions team, provides dedicated investment management, capital solutions and corporate development support. For more information, please visit aspida.com or follow them on LinkedIn, Facebook.
Who We Are:
Sometimes, a group of people come together and create something amazing. They don’t let egos get in the way. They don’t settle for the status quo, and they don’t complain when things get tough. Instead, they see a common vision for the future and each person makes an unspoken commitment to building that future together. That’s the culture, the moxie, and the story of Aspida.
Our business focuses on annuities and life insurance. At first, it might not sound flashy, but that’s why we’re doing things differently than everyone else in our industry. We’re dedicated to developing data-driven tech solutions, providing amazing customer experiences, and applying an entrepreneurial spirit to everything we do. Our work ethic is built on three main tenets: Get $#! Done, Do It with Moxie, and Have Fun. If this sounds like the place for you, read on, and then apply at aspida.com/careers.
What We Are Looking For:
In this role, specializing in annuity pricing, you will play a key part in developing and implementing pricing models, conducting in-depth analysis, and ensuring the financial competitiveness and sustainability of our annuity products. You will work closely with cross-functional teams including IT, finance, and marketing to support strategic decision-making and drive profitability. This role reports to the AVP, Pricing and is required to be onsite 3 days a week at our Durham, NC office.
What You Will Do:
Lead the development and maintenance of pricing models for annuity products.
- Conduct thorough analysis of market trends, competitor offerings, and economic factors to inform pricing strategies.
- Develop pricing assumptions and projections to ensure competitive and profitable product pricing.
- Create and validate actuarial models to assess the financial impact of various pricing strategies.
- Perform sensitivity analyses and stress testing to evaluate risk and ensure financial stability.
- Design new annuity products and enhance existing offerings.
- Provide actuarial expertise and insights during the product development process to align with financial goals.
- Ensure pricing models and strategies comply with regulatory requirements and industry standards.
- Prepare and review actuarial reports and documentation for internal and external stakeholders.
- Work closely with marketing and sales teams to support product launch strategies and promotional activities.
- Communicate complex actuarial concepts and pricing decisions effectively to non-actuarial stakeholders.
- Stay abreast of industry developments, actuarial methodologies, and regulatory changes.
- Propose and implement enhancements to pricing models and actuarial practices to improve accuracy and efficiency.
What We Provide:
- Salaried, DOE
- Full-Time
- Full Benefits Package Available
What We Believe:
At Aspida Financial Services, LLC, we are committed to creating a diverse and inclusive environment and are proud to be an equal opportunity employer. As such, Aspida does not and will not discriminate in employment and personnel practices on the basis of race, sex, age, handicap, religion, national origin or any other basis prohibited by applicable law. Hiring, transferring and promotion practices are performed without regard to the above listed items.
Requirements:What We Require:
- Bachelor’s degree in Actuarial Science, Mathematics, Statistics, or a related field.
- Associate or Fellow of the Society of Actuaries (ASA or FSA)
- Minimum of 5 years of actuarial experience with a focus on annuity pricing, including experience with actuarial modeling and financial analysis.
- Advanced proficiency in actuarial software and tools (e.g., AXIS, Prophet, etc.).
- Strong analytical and problem-solving skills, with the ability to interpret complex data and provide actionable insights.
- Excellent communication skills, with the ability to convey technical information clearly to diverse audiences.
- Proven track record of successful collaboration with cross-functional teams.
