American Equity Actuarial Associate I - Actuarial in West Des Moines, Iowa
GENERAL PURPOSE OF THE JOB:
The Actuarial Associate I assists with Company pricing, product development, valuation, reserving and/or financial reporting actuarial activities as assigned.
ESSENTIAL DUTIES AND RESPONSIBILITIES:
Builds, maintains, and runs actuarial models using actuarial tools (Mg-ALFA, RStudio, IAS or other); writes software code, enters inputs/assumptions, tests calculations, evaluates impacts and presents valuation, risk, financial reporting, pricing, product and/or other actuarial findings. Work varies based on Associate rotation assignment including some or all of the following:
Models timely development and production of fixed indexed annuities across numerous servers, identifying, addressing and resolving model changes in a controlled framework.
Assists in product design and develops actuarial models to price the cost of new liabilities using an internal rate of return or present value of distributable earnings.
Performs analysis to test valuation and financial results and trends, documents findings and presents to leadership.
Generates and reviews reserve calculations across both Statutory and GAAP reporting requirements on fixed indexed annuities.
Analyzes the risk of fixed indexed annuities within the context of an Enterprise Risk Management framework.
Predicts future policyholder behavior by using techniques from data mining, statistics, modeling, machine learning, and artificial intelligence.
Ensures timely and accurate reporting, validation and analysis of assets and liabilities, as well as delivery of required reporting items.
Completes reporting deliverables on a monthly or quarterly cycle, reviews and interprets results and takes appropriate action.
Performs audit validation, maintaining accurate valuation assumptions and inputs.
Ensures timely and accurate preparation, validation and delivery on external audit and internal audit.
Maintains satisfactory exam performance as a member of the Actuarial Student Program.
Performs actuarial work on a range of projects.
Performs other related work as assigned.
Direct Reports: 0
General Description of Indirect Reports (2 and 3-downs): 0
EDUCATION AND/OR EXPERIENCE:
Bachelor’s degree in actuarial science, mathematics, statistics or other related field of study; or related field of study; or equivalent combination of education and/or experience is required.
Passing scores on at least 2 actuarial examinations.
Some actuarial working experience that may include an actuarial internship in the life and annuity industry preferred.
CERTIFICATES, LICENSES, PROFESSIONAL DESIGNATIONS:
- Actively pursuing successful completion of actuarial examinations.
KNOWLEDGE, SKILLS AND ABILITIES:
General knowledge of the life and annuity industry and products.
Strong knowledge/understanding of actuarial science, principles and practices with ability to apply that knowledge.
Strong willingness and commitment to learning.
Strong statistical and advanced math skills with exceptional attention to numeric and other detail.
Strong technology/systems aptitude and advanced Excel and modeling skills.
Strong, proven analytical skills, including ability to research and analyze data with minimal instruction.
Ability to use independent judgment in interpreting and applying actuarial knowledge.
Strong problem-solving skills with ability to define problems, collect data, establish facts, and draw valid conclusions.
Critical thinking skills with ability to apply actuarial principles of logical thinking to a wide range of intellectual and practical problems, including dealing with a variety of abstract and concrete variables.
Ability to read, analyze, and interpret technical journals, financial reports, and legal documents from regulatory agencies, and other members of the business community.
Effective verbal and written communication skills with ability to effectively present information to management.
Able to multi-task in an environment with shifting priorities in a fast-paced work environment with shifting priorities and unpredictable workflow.
Strong customer service orientation.
Ability to work cooperatively and successfully with employees, customers, and other outside third parties.
Strong organizational and planning skills.
Proficient in the use of Microsoft Office Suite.
Minimal to no travel is required in this position._
This description covers the major purpose and essential functions of the job. It is not intended to give all details or a step-by-step account of the way each task is to be performed. Employees may receive other job-related instructions and be required to perform other job-related work requested by their manager. All requirements are subject to possible modification to provide reasonable accommodation to qualified individuals with disabilities.