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Actuarial Associate
Job in
Birmingham, Jefferson County, Alabama, 35275, USA
Listed on 2026-06-06
Listing for:
Lamwork
Full Time
position Listed on 2026-06-06
Job specializations:
-
Finance & Banking
Actuary, Financial Analyst -
Insurance
Actuary, Financial Analyst
Job Description & How to Apply Below
Updated:
July 04, 2025 - The Actuarial Associate develops and maintains actuarial models for fixed indexed annuities using various tools, ensuring accurate calculations, inputs, and testing. This position analyzes and presents valuation, risk, financial, and pricing outcomes while performing trend analysis and documenting findings for leadership. The associate also delivers timely reserve calculations and reporting in compliance with Statutory and GAAP requirements, leveraging data analytics and machine learning to predict policyholder behavior and support risk management.
Associate Roles
Job Summary:
- Actuarial Associate responsibilities across various employers include developing, maintaining, and validating actuarial models and performing related analyses to support valuation, pricing, risk assessment, and financial reporting.
Job Summaries and Responsibilities by Employer
- Listen to understand the needs of internal and external clients
- Problem-solving using spreadsheets, cat models, R, or similar
- Developing and maintaining claims simulation models for external client decision support
- Creating underwriting and pricing models for internal clients
- Soft skill development and actuarial accreditation
- Internal business network development
- Maintenance and development of analytics and models
- Consume technical material and adopt new technology quickly and joyfully
- Presents technical information in an appropriate way for a given audience
- Conduct analysis and experience studies to support the development of best estimates and reference tools
- Provide survey results presentations to external clients and interpretation to internal stakeholders
- Perform a detailed review of the Variable Annuity actuarial models
- Review modeling of product features, assumptions, and scenarios in partnership with an external actuarial outsourcing services provider
- Model validation resulting from annual assumption changes and modeling updates
- Perform User Acceptance Testing (UAT) on risk-neutral and statutory bases as well as detailed Unit Testing to validate changes and explain impacts
- Summarize findings for senior audience and work with auditors closely
- Assist other junior members on model validation projects
- Support identification and addressing potential modeling improvements and best practices
- Review products/data and methodologies for future transactions with emphasis on correct interpretation
- Facilitate onboarding of models and processes for future transactions with IT collaboration
- Contribute to ad-hoc projects such as regulatory reserve and capital requirements, GAAP LDTI, etc.
- Develops, maintains, and runs pricing models for profit testing and economic capital
- Analysis and presentation of pricing model results for senior actuary review
- Underwrites and evaluates pricing risks for various health-related lines to support profitable new business
- Acquires and analyzes data for experience studies, profitability, financial reporting, and risk management
- Maintains reports for senior actuaries
- Supports marketing of reinsurance solutions to prospective clients
- Prepares documentation for final pricing packages
- Coordinates model handoff with Health Solutions Valuation team
- Seeks process improvements and builds relationships within the department
- Participates in the Actuarial Development Program and ad-hoc projects
- Price complex transactions across Funded Retirement Products
- Analyze population and contract-specific data for mortality and other demographic assumptions
- Model and analyze financial projections to support pricing recommendations
- Improve processes with best practices and technology
- Collaborate with actuarial and business partners in a fast-paced environment
- Support portfolio monitoring and data analytics related to pricing and profitability
- Involves data analytics projects as assigned
- Solvency II reporting and profitability investigations
- Track overall actuarial dynamics for the annual business plan
- Collects and analyzes data related to pricing, reserving, actuarial reporting, and functions
- Provides technical support under supervision of more experienced staff
- Assists in IBNR and other liabilities valuations
- Develops knowledge of claims system and general ledger for reconciliation
- Helps automate valuation models and processes
- Monitors MLR and claim trends for budgeting and Medicare bids
- Participates in audit materials preparation
- Performs periodic rate setting and monitors product profitability
- Assists modeling efforts including building, updating, running, and validating
- Prepare monthly calculation of IBNR reserves
- Submit Medicare ACR calculations with analyses
- Develop actionable recommendations to management
- Calculate profitability reports and identify…
Position Requirements
10+ Years
work experience
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