Actuary - IA - Pricing

Overview

The Standard seeks a talented Pricing/Modeling Actuary to join our Individual Annuities team. This role will be a key part of the team that is responsible for pricing, rate setting, product development support, reinsurance, and ALM Strategies for the Individual Annuities division. This will be a highly visible role and will work in a dynamic environment to build effective networks across the department/division.

Responsibilities of the role may expand depending on the level of the candidate, with opportunities for additional exposure to management, sales team, financial planning process, competitor analysis, corporate modeling, and/or financial reporting.

• Recommending new money and renewal rates for The Standard’s individual annuity products and serving as a spokesperson for the department’s rate-setting decisions, collaborating across the Individual Annuities division and presenting results to executives
• Analyzing new and existing product profitability and making strategic recommendations to optimize income and achieve growth goals, including asset allocation to cohorts and monitoring inforce asset and liability characteristics by cohort
• Assisting with the analysis of flow reinsurance as we build out the infrastructure of our first flow reinsurance transaction; providing support during the execution of reinsurance treaties; coordinating with corporate finance and accounting, corporate actuarial, deal teams, and systems support
• Collaborating with investments team and corporate actuaries to ensure ALM strategy aligns with strategic goals
• Supporting product development through prioritization of ideas, risk and financial analysis, regulatory filings, pricing, modeling (assets and liabilities), accounting standards, operations and management reporting, product rollout, and sales support
• Maintaining and improving existing AXIS pricing models and supporting evolving product development processes

• Associate Actuary III
  :
  Applies understanding of functional areas and company risk profiles to complete risk-based analysis; seeks industry information to enhance risk management acumen
• Actuary
  :
  Demonstrates expertise in the company’s risk profile and risk management practices; builds foundational understanding of industry risk management practices; performs risk-based analyses and identifies opportunities
• Senior Actuary
  :
  Applies knowledge of industry practices to advocate for risk-based opportunities within the company’s risk appetite; participates in professional groups and applies expertise to enhance company practices

• Education: Bachelor’s degree required
• Certification: Associate of The Society of Actuaries (ASA) required;
  Fellow of the Society of Actuaries (FSA) preferred
• Experience: Minimum of five years of progressively responsible actuarial experience (annuities experience required; pricing & reinsurance experience a plus)
• Advanced to expert Excel skills (required)
• Prior modeling experience (required) – GGY Axis experience preferred

• Winning together: Strong written and verbal communication; ability to collaborate with various departments; values diverse perspectives
• Driving success: Drives work forward independently; uses data and analysis to influence management decisions
• Customer Focus: Develops positive internal and external stakeholder relationships by delivering value

We have built a legacy of stability, financial strength and exceptional customer service through service-oriented people. If you join The Standard, you can expect:

• A rich benefits package including medical, dental, vision and a 401(k) plan with company matching
• An annual incentive bonus plan
• Generous paid time off including 11 holidays, 2 wellness days, and 8 volunteer hours annually
• Opportunities for career growth and advancement
• Paid parental leave and adoption/surrogacy assistance
• An employee giving program that double matches donations to eligible nonprofits and schools

In addition to the competitive salary range below, our benefits support work-life balance. Learn more about working at The Standard.

Salary
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Standard Insurance Company and affiliates are Affirmative Action/Equal Opportunity employers. All qualified applicants will receive consideration for employment without regard to race, religion, color, sex, national origin, gender identity, sexual orientation, age, disability or veteran status or any other status protected by law. The Standard conducts background checks and verification as a condition of employment. All employees must be bondable.