Sr. Product Actuarial Analyst

Location: Cedar Rapids, Iowa; Denver, Colorado
Employment: Full time
Job Family: Actuarial

Job Description Summary

Perform complex calculations, modeling, reporting, risk, and compliance functions to support life product development. Quantify and qualify results and perform actions required for sign-off before implementation.

Job Description

Responsibilities

• Perform advanced actuarial calculations, data analytics, and business systems analysis using custom and production administrative and illustrations systems.
• Align complex calculations and testing requirements with product/pricing designs and state/federal regulations. Create and deliver clear calculation specifications and/or numerical examples via spreadsheets for cross functional consumption.
• Create and use complex formulas/macros and tools to validate system alignment with product specifications.
• Collaborate with Technology and Operations to ensure accurate understanding of product specifications for projects of moderate complexity.
• Provide final signoff on product related technical requirements, test plans, and user acceptance testing. Represent role as a key component of project leadership team and provide status reporting to senior leadership.
• Demonstrate advanced understanding of system navigation, transaction activity, tables, and other system features.
• Assist Legal/Compliance, Finance, and Operational Risk with sensitive production issues and resolutions.
• Analyze and reconcile data into financial or customer impact reports for leadership, legal/compliance, audit/controls, operational risk, or technology consumption.
• May supervise financial related projects or serve as an actuarial representative on project teams, including internal and external financial audits and controls by producing evidence of system calculation accuracy.
• Provide supervision in identifying and implementing process improvement opportunities.
• Mentor, train, and assist junior team members as needed.

Qualifications

• Bachelor’s degree in actuarial science, mathematics, finance or equivalent experience.
• Six years of experience in modeling, business systems analysis, or data analytics.
• Strong understanding of complex actuarial concepts, including risk management, interest rate models, payout models, etc.
• Moderate experience supporting product design projects and knowledge of associated regulatory requirements.
• Advanced technical proficiency to maintain and enhance policy administration systems including rate tables.
• Advanced analytical and reporting skills.
• Strong written and verbal communication skills.
• Strong organizational skills to manage multiple priorities within deadlines.
• Advanced experience and skills in MS Excel formula use and creation.
• Advanced experience and skills with modeling software and programming languages (e.g. Access, SQL, Visual Basic).
• Expert skill at working independently and collaborating in a team environment.

Preferred Qualifications

• Experience with life administration systems, particularly: CyberLife, LifePRO, LifeComm.
• Knowledge life products (Term, Whole Life, Universal Life, Indexed Universal Life, Variable Universal Life).
• Visual Basic / Excel macro-writing experience.
• SQL and Access experience.
• Product-design experience.
• Knowledge of applicable regulatory requirements.

Working Conditions

This is a hybrid position requiring three days (Tuesday-Thursday) in office per week in one of our hub locations (Cedar Rapids or Denver). Relocation assistance will not be provided for this position.

Compensation

The salary for this position generally ranges between $88,000 - $110,000 annually. Please note that the salary range is a good faith estimate for this position and actual starting pay is determined by several factors including qualifications, experience, geography, work location designation (in-office, hybrid, remote) and operational needs. Salary may vary above and below the stated amounts, as permitted by applicable law.

Additionally, this position is typically eligible for an Annual Bonus of 10% based on the Company Bonus Plan/Individual Performance and is at the Company’s discretion.

What We Offer

For eligible employees, we offer a comprehensive benefits package designed to support both the personal and financial well-being of our employees.

Compensation Benefits

• Competitive Pay
• Bonus for Eligible Employees
• Benefits Package
• Pension Plan
• 401k Match
• Employee Stock Purchase Plan
• Tuition Reimbursement
• Disability Insurance
• Medical Insurance
• Dental Insurance
• Vision Insurance
• Employee Discounts
• Career Training & Development Opportunities

Health and Work/Life Balance Benefits

• Paid Time Off starting at 160 hours annually for employees in their first year of service.
• Ten (10) paid holidays per year (typically mirroring the New York Stock Exchange (NYSE) holidays).
• Be Well Company holistic wellness program, which includes Wellness Coaching and Reward Dollars.
• Parental Leave – fifteen (15) days of paid parental leave per calendar year to eligible employees with at least one year of service at the time of birth, placement of an adopted child, or placement of a foster care child.
• Adoption Assistance
• Employee Assistance Program
• Back-Up Care Program
• PTO for Volunteer Hours
• Employee Matching Gifts Program
• Employee Resource Groups
• Inclusion and Diversity Programs
• Employee Recognition Program
• Referral Bonus Programs