Job Overview: The Associate Actuary is responsible for performing actuarial analysis, risk assessment, and providing key insights to support the financial management and strategic decision-making of an annuity and life reinsurance company. This position involves working closely with a team of actuaries, underwriters, and other stakeholders to ensure the company’s financial stability and growth.

Key Responsibilities:

1. Actuarial Analysis: Conduct actuarial analyses to evaluate the financial implications of annuity and life insurance policies. This includes pricing, reserving, and profitability analysis.

2. Risk Assessment: Assess and manage the risks associated with annuity and life insurance products, including mortality, longevity, interest rate, and market risks.

3. Pricing and Product Development: Collaborate with the product development team to price new annuity and life insurance products, ensuring they are competitive and profitable.

4. Reserving: Calculate and maintain actuarial reserves for annuity and life insurance policies, ensuring they comply with regulatory and accounting standards.

5. Experience Studies: Conduct experience studies to analyze policyholder behavior and mortality rates, and use this data to refine pricing and reserving assumptions.

6. Financial Modeling: Develop and maintain financial models to project the company’s financial performance under various economic scenarios.

7. Regulatory Compliance: Ensure that all actuarial work is compliant with industry regulations and standards.

8. Reinsurance Treaty Evaluation: Evaluate reinsurance treaties to assess their impact on the company’s risk profile and financial results.

9. Risk Mitigation: Propose and implement strategies to mitigate financial and operational risks related to annuity and life insurance portfolios.

10. Communication: Effectively communicate actuarial findings and recommendations to various stakeholders, including senior management, underwriters, and regulators.

11. Collaboration: Work closely with cross-functional teams, including underwriting, investments, and finance, to achieve common financial goals.

Qualifications:

1. Actuarial Credentials: Associate Actuarial designation (ASA) or near-ASA with the Society of Actuaries (SOA) or equivalent credential.

2. Education: Bachelor’s degree in mathematics, actuarial science, or a related field. Advanced degrees (e.g., M.S. in Actuarial Science) may be a plus.

3. Experience: Typically, 2-5 years of experience in an actuarial role in the insurance or reinsurance industry, preferably focused on annuity and life products.

4. Technical Skills: Proficiency in actuarial modeling software (e.g., Prophet, AXIS), statistical analysis tools, and spreadsheet applications.

5. Regulatory Knowledge: Familiarity with industry regulations and compliance standards related to life and annuity products.

6. Analytical Skills: Strong quantitative and analytical abilities, with the capability to perform complex actuarial calculations.

7. Communication Skills: Excellent verbal and written communication skills to convey actuarial findings to both technical and non-technical audiences.

8. Team Player: Ability to work collaboratively in a team and coordinate with multiple departments.