Job Description
L&A Solutions Annuity Product Actuary
Description This individual will lead and support initiatives related to design and pricing of indexed and fixed annuity products. This includes product design, actuarial modeling, pricing, actuarial support of regulatory filings and support of sales ideas. This position will work closely with the broader L&A Solutions team, Distribution/Field Leaders, and Marketing to ensure new products and features are aligned with the company's strategic goals.
Key Responsibilities - Communicates efficiently and effectively, orally and in writing, with both internal and external audiences.
- Understands pricing practices, and develops as well as oversees modeling to set appropriate rates, understand profitability, and analyze sensitivities.
- Understands and is able to reverse engineer key features of competitor products.
- Present product features and/or actuarial results to Distribution Leadership, Product Risk Committee, Project Teams, Senior Management, and other stakeholders.
- Manage, train and mentor actuarial students/analysts.
- Lead product development efforts with Distribution and Field leaders.
- Provide support to other business areas. Consult or advise on broader matters that may or may not be actuarial in nature.
- Able to strategically solve unique and complex problems.
- Partner with the policy forms team to review forms as needed. Prepare or review actuarial materials required to secure state approvals.
- Prepare or review product specifications and actuarial reports.
- Provide and discuss pricing results as well as sensitivity-analysis to senior Actuaries of the Company, including the Product Risk Committee.
- Present product features and/or actuarial results to Distribution Leadership, Project Teams, Senior Management, and other stakeholders.
- Proactively identifies and ensures compliance with legal and regulatory requirements.
- Reviews marketing material as appropriate.
- Reviews experience studies and sets pricing assumptions.
Job Requirements - Bachelor's degree in a quantitative field, such as Economics, Mathematics, Statistics, Actuarial Science or an equivalent combination of education and experience.
- Fellow of the Society of Actuaries with 8 or more years of actuarial experience.
- Member of the American Academy of Actuaries.
- Good communication skills.
- Ability to work with Distribution Leadership and multiple stakeholders to design and develop new annuity products and features.
- In-depth knowledge of annuity products and benefits.
- Indexed Annuity Pricing experience a major plus
- Ability to lead analysts in creation of pricing engines and/or independently create pricing engines.
- Solid financial modeling experience using actuarial software, preferably MG-ALFA.
- Working knowledge of applicable valuation, nonforfeiture, tax, risk-based-capital, and other relevant standards.
- Self-motivated and result-focused.
- Must be able to successfully complete a background check that may include fingerprinting.
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#LI-DO
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