Actuarial Assistant

Overview

At Banner Life Insurance Company, we lead with heart and ambition. Every day, we transform purpose into progress, guided by our unwavering commitment to be better for our customers, clients, and communities, not just today but long-term as well. Our people are the driving force behind everything we achieve. Their passion, purpose, and pursuit of innovation empower us to deliver cutting‑edge solutions that support those we serve, ensuring we are here for you, here for good and striving for better.

We’re a forward‑thinking company energized by our work and how we show up for one another. Our culture is built on meaningful impact and genuine enjoyment, because we believe great work and great experiences should go hand in hand.

By offering career development opportunities, comprehensive benefits, and programs that support your wellbeing, we help you thrive personally and professionally. We are here for you, here for good and here for better.

The Actuarial Assistant will be responsible for the different model governance functions, including model peer review and model validation, compliant with company’s policies and procedures, for all actuarial models. May include parallel model building, and expected results creation for In‑force and new business for all legal entities and associated captive reinsurance arrangements as needed. Provide review and analysis for all model purposes including valuation, financial planning, capital strategies, cash flow testing, financial reporting, IFRS 17, LDTI, and others as appropriate.

• Support the Actuary, Model Governance and VP & Corporate Actuary in the timely execution of corporate actuarial deliverables. These deliverables encompass model development, model review & analysis, model validation, model governance, and special projects as determined by the VP & Corporate Actuary.
• Liaise with model development, valuation, finance, investment modeling, and financial planning team members to review and analyze models built using GGY Axis, Excel, SQL, or other software to ensure they are fit for the intended purpose and built according to the model specifications. The model review and validation methods should have diligence commensurate with the materiality and risks associated with the model purpose.
• Review production metrics as needed for accuracy and to ensure appropriate controls and validation have been performed. Be able to understand the movements in these metrics and be able to relate movements back to underlying models.
• Ensure required model reviews are performed and documented in a timely manner to satisfy all reporting and analysis obligations and to ensure sufficient time for user acceptance testing.
• Perform appropriate sensitivities on models as requested.
• Help to automate our procedures and processes outside of the GGY Axis actuarial modeling software to enhance accuracy and efficiency.
• Support the building and maintenance of custom testing models as needed to analyze movements in key metrics, or to serve as interim models until more robust models are developed by model development team in GGY Axis.
• Support the building and review of models for the projection of new reinsurance structures with parent or external companies, and prepare comprehensive documentation as required in support of analysis.
• Document and communicate clearly the results of all reviews and analysis highlighting all potential issues to manager and key stakeholders.
• Perform attribution analysis and investigation of drivers of earnings and profitability under Statutory, LDTI, Tax, IFRS, and JICS reporting, and other analysis as appropriate.
• Serve as the model code peer reviewer or perform model validation as work demands warrant.
• Other duties as required.

• BS/BA Math/Statistics.
• 4+ Exams working towards ASA.

• Minimum of 3 years of life insurance/actuarial experience.
• Term and Secondary Guaranteed UL experience preferred.
• Pension Risk Transfer (PRT) experience is a plus.
• Model development or modeling experience required.
• Experience in multiple accounting methods (statutory, Tax, P , IFRS, LDTI) preferred.

• Actuarial software skills…