What are the responsibilities and job description for the Associate Actuary, Actuarial Valuation position at National Life Group?
Associate Actuary, Actuarial Valuation
Company Summary
Come join one of America’s fastest growing insurance companies with a stable history of 175 years. At National Life Group (“NLG”), we offer a flexible work environment with opportunity for growth. As a mission-driven business, our promises are as important as the products we sell. We encourage our associates to live our values: Do Good. Be Good. Make Good.
Our mission extends beyond the insurance and annuities policies that we sell. Our cause is also to make the world a better place through grants from our charitable foundation, paid time for our employees to volunteer, environmentally sustainable and healthy work sites, and events that promote the work of nonprofits in our own backyard.
We invite you to explore what we have to offer and to join our cause.
Role Summary
The Associate Actuary will spearhead the development and upkeep of valuation models/processes/data platform essential for calculating, analyzing, and reporting reserves and other actuarial financial statement items for life insurance products. This role entails adapting models for new products, regulatory demands, business expansions, and strategic projects, while fostering collaboration across Valuation, Finance, Product Development, Risk, and IT departments. This role will report to the Director & Actuary of Actuarial Valuation.
Essential Duties and Responsibilities
- Valuation Model Development & Actuarial Data Platform (ADP) Enhancements (50%):
- Direct and execute actuarial valuation model development and testing, ensuring priority alignment and effective coordination
- Enhance and support the ADP, contributing to its continuous improvement
- Business Support Services for Actuarial Valuation (10%):
- Maintain and enhance valuation modeling processes, emphasizing efficiency through simplification, streamlining, and automation
- Provide production support for the Valuation team, addressing issues, aiding in regulatory reporting, and supporting audit inquiries
- Actuarial Change Management (10%):
- Guide the actuarial change management lifecycle, from initiation to successful implementation
- Direct and execute the integration and optimization of new processes and technological advancements
- Actuarial Valuation Model Management (10%)
- Manage and deploy actuarial valuation models
- Maintain, manage, and implement governance policies and procedures as mandated by the company
- Strategic/Regulatory Initiatives (10%):
- Take charge of researching, planning, designing, and executing actuarial and broader enterprise initiatives
- Talent Development (10%)
- Lead the professional growth and skill enhancement of the actuarial personnel within Actuarial Valuation team
- Conduct specialized PolySystems training sessions to advance modeling expertise
Core Work Days
This position is presently onsite/hybrid with the expectation that you are in the office three days per week with current campus days being Tuesday, Wednesday and Thursday (subject to change with advance notification and manager discretion).
Minimum Qualifications
- FSA designation from the Society of Actuaries with at least 7 years of actuarial experience within the life insurance sector
- Bachelor's Degree in Actuarial Science, Mathematics, Statistics, Economics or related field
- At least 5 years of actuarial experience within actuarial modeling or actuarial valuation & financial reporting
- Proficiency in actuarial modeling software (such as PolySystems, MG-ALFA, GGY-AXIS)
- Skilled in database tools like SQL, DataBricks, Microsoft Access, etc.
- Comprehensive understanding of actuarial valuation requirements and techniques
- Proven analytical prowess and problem-solving capabilities
- A proactive attitude towards continuous improvement and challenging established norms
Preferred Qualifications
- Comprehensive understanding of actuarial governance and control frameworks
- Demonstrated collaborative spirit and organizational synergy
- Excellent written and verbal communication skills
Benefits
- Your benefits start day one and are flexible and customizable to your and your family’s specific needs. Check out the BENEFITS of a Career at National Life!
The base compensation range represents the low and high end of the range for this position. Actual compensation will vary and may be above or below the range based on various factors including but not limited to qualifications, skills, competencies, location, and experience. The range listed is just one component of our total compensation package for employees.
Other rewards may include an annual bonus, quarterly bonuses, commissions, and other long-term incentive compensation, depending on the position. National Life offers a competitive total rewards package which includes: a 401(k) retirement plan match; medical, dental, and vision insurance; a company funded wellness account for director and below employees; 10 paid holidays; a generous paid time off plan (22 days of combined time-off for non-exempt employees and exempt employees have discretion in managing their time, including scheduling time off in the normal course of business, but in no event will exempt employees receive less sick time than required by state or local law); 6 weeks of paid parental leave; and 6 weeks of paid family leave after a year of full-time employment.
National Life is accepting applications for this role on an ongoing basis and the role remains open until filled.
National Life Group® is a trade name of National Life Insurance Company, Montpelier, VT – founded in 1848, Life Insurance Company of the Southwest, Addison, TX – chartered in 1955, and their affiliates. Each company of National Life Group is solely responsible for its own financial condition and contractual obligations. Life Insurance Company of the Southwest is not an authorized insurer in New York and does not conduct insurance business in New York. Equity Services, Inc., Member FINRA/SIPC, is a Broker/Dealer and Registered Investment Adviser affiliate of National Life Insurance Company. All other entities are independent of the companies of National Life Group.
National Life Group
1 National Life Dr
Montpelier, VT 05604
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