Associate Actuary – Annuity Valuation

Job Description Summary

Leads and performs actuarial valuation and financial reporting for annuity products, including variable annuities and registered index-linked annuities (RILA). This role is responsible for statutory valuation, capital and reserve analysis, and delivering accurate, timely financial results. Partners with cross-functional teams to analyze model outputs, explain drivers of results, and ensure the integrity of actuarial reporting. May provide guidance to team members and contribute to ongoing improvements in actuarial modeling and reporting processes.

• Perform statutory valuation and reporting, including reserve calculations and capital analysis for annuity products (VA, RILA)
• Produce and review monthly, quarterly, and annual financial results, ensuring accuracy and timeliness
• Analyze and explain drivers of change in results (e.g., quarter-over-quarter variance, model updates, assumption changes)
• Execute and interpret results from actuarial models, ensuring outputs are reasonable and validated prior to distribution
• Support cash flow testing and contribute to broader financial reporting (including potential GAAP exposure)
• Collaborate with internal/external stakeholders to present results and communicate key insights to management and auditors/regulators
• Identify opportunities to enhance modeling processes, controls, and reporting efficiency
• Provides reports and analyses to management on sales, persistency and mortality or morbidity experience for various product lines, reserve adequacy, risk management information, or various other similar items
• Manages studies that underlie actuarial assumptions and provides assumptions and data to others
• May support creation of systems specifications, contracts, commission structures, and other actuarial aspects of product development
• Monitors and analyzes developments in actuarial techniques, laws and regulations applicable to company operations, and competitive developments in the marketplace
• May represent the company on industry and professional committees and/or with regulators
• May supervise a small team of employees

• Bachelor's Degree in Actuarial Science, Mathematics, Statistics, Economics or related field and 5 years of relevant experience
• FSA or equivalent professional designation. In lieu of FSA will accept ASA or equivalent professional designation and 8 years of relevant experience
• In lieu of Bachelor's, will accept Master's in a listed discipline and 4 years of relevant experience
• Demonstrates high quality leadership, judgment, organization and prioritization skills
• Effectively communicates, both verbally and in writing, advanced mathematical and analytical concepts to various audiences
• Works well under pressure and within time constraints to effectively accomplish individual and team objectives
• Excellent computer skills

• Utilize actuarial modeling platforms (e.g. MG-ALFA, Python-based tools, or similar systems) to perform valuation analysis

• 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
• Occasional Travel
• Limited travel may be required

The salary for this position generally ranges between $128,000 - $145,000 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 15% based on the Company Bonus Plan/Individual Performance and is at the Company’s discretion.

Beware of fake job offers! We’ve been alerted to scammers impersonating Transamerica recruiters, particularly for remote positions.

Please note:

• We will never request personal information such as  payment for equipment upfront
• Official offers are sent via Docu Sign following a verbal offer—not…