Senior Actuary

Rock Island, IL
Rock Island, IL 61201, USA

Modern Woodmen of America is seeking an experienced Actuary to join our Actuarial team. You will direct and participate in complex projects that shape profitability analysis, financial planning, product development, and regulatory reporting for life insurance and annuity products. You’ll collaborate closely with cross-functional teams, champion process improvements, and ensure compliance with industry standards all while delivering actionable insights to diverse stakeholders.

If you’re a strategic thinker who excels at building relationships, communicating effectively, and driving results, this is your opportunity to make a meaningful impact.

Modern Woodmen of America is the nation’s third largest fraternal benefit society with over $18 billion in assets. Fraternal benefit societies are unique membership organizations that pair the “member owned” characteristic of a mutual insurance company with the “social mission” characteristic of a service organization. They unite individuals with common bonds, provide a variety of life insurance and investment products, and form one of the nation’s most effective volunteer networks.

Responsibilities:

• Maintain and provide analysis on the quarterly product profitability dashboard, providing management with snapshot of projected profitability for current portfolio – in total, by product line, and by individual product.
• Prepare and communicate driver analysis of spread margins comparing to prior quarter, plan and other best estimate projections.
• Collaborate with cross-functional teams, including accounting, investments, and risk management, to address complex business challenges.
• Lead and manage actuarial projects related to financial planning, capital analysis, inforce management, valuation, product development, and pricing for life insurance and annuities products.
• Support the Actuarial function in preparing and reviewing financial reports, regulatory filings, and presentations for senior leadership, the Board of Directors, and external stakeholders.
• Participate in internal and external audits of reinsurance, reserving, and other actuarial topics.
• Contribute to the development and enhancement of actuarial models, processes, and technology solutions.
• Challenge the status quo of current tools and processes. Continually identify areas for improvement and propose/engineer solutions to enhance and streamline.
• Stay current with industry trends, regulatory changes, and best practices in actuarial science and insurance.
• Effectively communicate analysis in a way that is appropriate for intended audience.

What we need:

• Bachelor’s degree in Actuarial Science, Mathematics or related field.
• 10+ years’ related experience.
• Deep understanding of industry procedures and best practices.
• Clear and effective communicator, adept at explaining complex concepts to multiple audiences.
• Strong technical proficiency across relevant tools and systems.
• Exceptional analytical thinking, with proven problem-solving and sound decision-making capabilities.

What we offer:

• Pay: The annual salary range for this position is $200,000-$240,000. The specific rate will depend on the successful candidate’s qualifications and prior experience. Candidates outside of the range are encouraged to apply, and will be considered based on experience, skill and education. This position is eligible for Modern Woodmen’s discretionary bonus program, which provides a Christmas bonus based on years of service (up to $1,500) and an Impact bonus based on a percentage of your annual salary, paid in March and pro-rated in your first year.
• Work Arrangements: This is a full-time hybrid position but remote may be considered (depending on experience and qualifications). Hybrid positions work at least three days in office and the remaining days each week working from home. Hybrid work arrangements are subject to change at any time based on business needs and company policy.
• Stability: Modern Woodmen has been Modern Since 1883 SM and exists for our members. We make long-term decisions that provide stability for our employees, financial representatives, and members.
• Respect for Personal Time: …