Associate Actuary - UL Valuation
Transamerica, Cedar Rapids, IA, United States
About Us
At Transamerica, hard work, innovative thinking, and personal accountability are qualities we honor and reward. We understand the potential of leveraging the talents of a diverse workforce. We embrace an environment where employees enjoy a balance between their careers, families, communities, and personal interests.
Job Family Actuarial
Who We Are We believe everyone deserves to live their best life. More than a century ago, we were among the first financial services companies in America to serve everyday people from all walks of life.
Today, we’re part of an international holding company, with millions of customers and thousands of employees worldwide. Our insurance, retirement, and investment solutions help people make the most of what’s important to them.
We’re empowered by a vast agent network covering North America, with diversity to match. Together with our nonprofit research institute and foundation, we tune in, step up, and are a force for good — for our customers and the communities where we live, work, and play. United in our purpose, we help people create the financial freedom to live life on their terms.
What We Do Transamerica is organized into three distinct businesses. These include 1) World Financial Group, including Transamerica Financial Advisors, 2) Protection Solutions and Savings & Investments, comprised of life insurance, annuities, employee benefits, retirement plans, and Transamerica Investment Solutions, and 3) Financial Assets, which includes legacy blocks of long term care, universal life, and variable and fixed annuities. These are supported by Transamerica Corporate, which includes Finance, People and Places, General Counsel, Risk, Internal Audit, Strategy and Development, and Corporate Affairs, which covers Communications, Brand, and Government and Policy Affairs.
Transamerica employs nearly 7,000 people. It’s part of Aegon, an integrated, diversified, international financial services group serving approximately 23.9 million customers worldwide.* For more information, visit transamerica.com.
Job Description Summary Transamerica Life seeks a self‑driven actuary with a strong interest in leading GAAP implementation and ongoing GAAP governance efforts for Universal Life (UL) products. This highly visible role partners closely with teams such as model development, accounting, and finance to interpret evolving accounting requirements, ensure accurate and efficient execution of GAAP changes, and support the development of robust financial reporting processes. The successful candidate will work with a high degree of independence, guiding analytical workstreams, evaluating UL specific assumptions and methodologies, and delivering insights that influence financial results and business decisions. The ideal candidate will demonstrate strong communication skills with both actuarial and non‑technical senior leadership, collaborate effectively across functions, and recommend practical, well‑supported actions when navigating complex GAAP or modeling considerations.
Job Description Responsibilities
Lead implementation of GAAP valuation reporting for the UL blocks of business
Prepare reports and tools used to analyze quarterly GAAP financial results
Perform technical reviews of model changes, validating assumptions, methodologies, and coding for accuracy and compliance
Exercise significant judgment in setting priorities and determining necessary tasks
Document and communicate testing results, technical findings, and recommendations to stakeholders
For this highly sought position the successful candidate will require rare, job‑specific skillsets:
Ability to work autonomously within defined timelines
Experience with life insurance products
Proficient modeler (AXIS proficiency strongly preferred)
Effective oral and written communication skills (specific prior examples may be requested)
Demonstrated history of analyzing and interpreting large data sets (specific prior examples may be requested)
Exemplifies the highest professional integrity and standards
Qualifications
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
Preferred Qualifications
GGY AXIS and Power BI experience
SQL, VBA, Python, and/or Alteryx programming
Strong communication skills, both verbal and written
Prior experience with GAAP LDTI reporting
Working Conditions
This is a hybrid position requiring three days (Tuesday‑Thursday) in office per week in one of our hub locations (Cedar Rapids, Baltimore, Philadelphia, or Denver)
Relocation assistance will not be provided for this position
Occasional Travel
Limited travel may be required
Compensation The salary for this position generally ranges between $128,000 – $165,000 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.
Disclaimer 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 ID or payment for equipment upfront
Official offers are sent via DocuSign following a verbal offer—not through text or email
This job description is not a contract of employment nor for any specific job responsibilities. The Company may change, add to, remove, or revoke the terms of this job description at its discretion. Managers may assign other duties and responsibilities as needed. In the event an employee or applicant requests or requires an accommodation to perform job functions, the applicable HR Business Partner should be contacted to evaluate the accommodation request.
What We Offer For eligible employees, we offer a comprehensive benefits package designed to support both the personal and financial well‑being of our employees.
Compensation Benefits
Competitive Pay
Bonus for Eligible Employees
Benefits Package
Pension Plan
401k Match
Employee Stock Purchase Plan
Tuition Reimbursement
Disability Insurance
Medical Insurance
Dental Insurance
Vision Insurance
Employee Discounts
Career Training & Development Opportunities
Health and Work/Life Balance Benefits
Paid Time Off starting at 160 hours annually for employees in their first year of service
Ten (10) paid holidays per year (typically mirroring the New York Stock Exchange (NYSE) holidays)
Be Well Company holistic wellness program, which includes Wellness Coaching and Reward Dollars
Parental Leave – fifteen (15) days of paid parental leave per calendar year to eligible employees with at least one year of service at the time of birth, placement of an adopted child, or placement of a foster care child
Adoption Assistance
Employee Assistance Program
Back‑Up Care Program
PTO for Volunteer Hours
Employee Matching Gifts Program
Employee Resource Groups
Inclusion and Diversity Programs
Employee Recognition Program
Referral Bonus Programs
Inclusion & Diversity We believe our commitment to diversity and inclusion creates a work environment filled with exceptional individuals. We’re thrilled to have been recognized for our efforts through the Human Rights Campaign Corporate Equality Index, Dave Thomas Adoption Friendly Advocate, and several Seramount lists, including the Inclusion Index, 100 Best Companies for Working Parents, Best Companies for Dads, and Top 75 Companies for Executive Women.
To foster a culture of inclusivity throughout our workforce, workplace, and marketplace, Transamerica offers a wide range of diversity and inclusion programs. This includes our company-sponsored, employee-driven Employee Resource Groups (ERGs), which are formed around a shared interest or a common characteristic of diversity. ERGs are open to all employees. They provide a supportive environment to help us better appreciate our similarities and differences and understand how they benefit us all.
Giving Back We believe our responsibilities extend beyond our corporate walls. That's why we created the Aegon Transamerica Foundation in 1994. Through a mix of financial grants and the volunteer efforts of our employees, the foundation supports nonprofit organizations focused on the things that matter most to our people in the communities where we live and work.
Transamerica’s Parent Company Aegon acquired the Transamerica business in 1999. Since its start in 1844, Aegon has grown into an international company serving more than 23.9 million people across the globe.* It offers investment, protection, and retirement solutions, always with a clear purpose:
Helping people live their best lives.
As a leading global investor and employer, the company seeks to have a positive impact by addressing critical environmental and societal issues, with a focus on climate change and inclusion and diversity.
As of December 31, 2023
#J-18808-Ljbffr
Job Family Actuarial
Who We Are We believe everyone deserves to live their best life. More than a century ago, we were among the first financial services companies in America to serve everyday people from all walks of life.
Today, we’re part of an international holding company, with millions of customers and thousands of employees worldwide. Our insurance, retirement, and investment solutions help people make the most of what’s important to them.
We’re empowered by a vast agent network covering North America, with diversity to match. Together with our nonprofit research institute and foundation, we tune in, step up, and are a force for good — for our customers and the communities where we live, work, and play. United in our purpose, we help people create the financial freedom to live life on their terms.
What We Do Transamerica is organized into three distinct businesses. These include 1) World Financial Group, including Transamerica Financial Advisors, 2) Protection Solutions and Savings & Investments, comprised of life insurance, annuities, employee benefits, retirement plans, and Transamerica Investment Solutions, and 3) Financial Assets, which includes legacy blocks of long term care, universal life, and variable and fixed annuities. These are supported by Transamerica Corporate, which includes Finance, People and Places, General Counsel, Risk, Internal Audit, Strategy and Development, and Corporate Affairs, which covers Communications, Brand, and Government and Policy Affairs.
Transamerica employs nearly 7,000 people. It’s part of Aegon, an integrated, diversified, international financial services group serving approximately 23.9 million customers worldwide.* For more information, visit transamerica.com.
Job Description Summary Transamerica Life seeks a self‑driven actuary with a strong interest in leading GAAP implementation and ongoing GAAP governance efforts for Universal Life (UL) products. This highly visible role partners closely with teams such as model development, accounting, and finance to interpret evolving accounting requirements, ensure accurate and efficient execution of GAAP changes, and support the development of robust financial reporting processes. The successful candidate will work with a high degree of independence, guiding analytical workstreams, evaluating UL specific assumptions and methodologies, and delivering insights that influence financial results and business decisions. The ideal candidate will demonstrate strong communication skills with both actuarial and non‑technical senior leadership, collaborate effectively across functions, and recommend practical, well‑supported actions when navigating complex GAAP or modeling considerations.
Job Description Responsibilities
Lead implementation of GAAP valuation reporting for the UL blocks of business
Prepare reports and tools used to analyze quarterly GAAP financial results
Perform technical reviews of model changes, validating assumptions, methodologies, and coding for accuracy and compliance
Exercise significant judgment in setting priorities and determining necessary tasks
Document and communicate testing results, technical findings, and recommendations to stakeholders
For this highly sought position the successful candidate will require rare, job‑specific skillsets:
Ability to work autonomously within defined timelines
Experience with life insurance products
Proficient modeler (AXIS proficiency strongly preferred)
Effective oral and written communication skills (specific prior examples may be requested)
Demonstrated history of analyzing and interpreting large data sets (specific prior examples may be requested)
Exemplifies the highest professional integrity and standards
Qualifications
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
Preferred Qualifications
GGY AXIS and Power BI experience
SQL, VBA, Python, and/or Alteryx programming
Strong communication skills, both verbal and written
Prior experience with GAAP LDTI reporting
Working Conditions
This is a hybrid position requiring three days (Tuesday‑Thursday) in office per week in one of our hub locations (Cedar Rapids, Baltimore, Philadelphia, or Denver)
Relocation assistance will not be provided for this position
Occasional Travel
Limited travel may be required
Compensation The salary for this position generally ranges between $128,000 – $165,000 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.
Disclaimer 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 ID or payment for equipment upfront
Official offers are sent via DocuSign following a verbal offer—not through text or email
This job description is not a contract of employment nor for any specific job responsibilities. The Company may change, add to, remove, or revoke the terms of this job description at its discretion. Managers may assign other duties and responsibilities as needed. In the event an employee or applicant requests or requires an accommodation to perform job functions, the applicable HR Business Partner should be contacted to evaluate the accommodation request.
What We Offer For eligible employees, we offer a comprehensive benefits package designed to support both the personal and financial well‑being of our employees.
Compensation Benefits
Competitive Pay
Bonus for Eligible Employees
Benefits Package
Pension Plan
401k Match
Employee Stock Purchase Plan
Tuition Reimbursement
Disability Insurance
Medical Insurance
Dental Insurance
Vision Insurance
Employee Discounts
Career Training & Development Opportunities
Health and Work/Life Balance Benefits
Paid Time Off starting at 160 hours annually for employees in their first year of service
Ten (10) paid holidays per year (typically mirroring the New York Stock Exchange (NYSE) holidays)
Be Well Company holistic wellness program, which includes Wellness Coaching and Reward Dollars
Parental Leave – fifteen (15) days of paid parental leave per calendar year to eligible employees with at least one year of service at the time of birth, placement of an adopted child, or placement of a foster care child
Adoption Assistance
Employee Assistance Program
Back‑Up Care Program
PTO for Volunteer Hours
Employee Matching Gifts Program
Employee Resource Groups
Inclusion and Diversity Programs
Employee Recognition Program
Referral Bonus Programs
Inclusion & Diversity We believe our commitment to diversity and inclusion creates a work environment filled with exceptional individuals. We’re thrilled to have been recognized for our efforts through the Human Rights Campaign Corporate Equality Index, Dave Thomas Adoption Friendly Advocate, and several Seramount lists, including the Inclusion Index, 100 Best Companies for Working Parents, Best Companies for Dads, and Top 75 Companies for Executive Women.
To foster a culture of inclusivity throughout our workforce, workplace, and marketplace, Transamerica offers a wide range of diversity and inclusion programs. This includes our company-sponsored, employee-driven Employee Resource Groups (ERGs), which are formed around a shared interest or a common characteristic of diversity. ERGs are open to all employees. They provide a supportive environment to help us better appreciate our similarities and differences and understand how they benefit us all.
Giving Back We believe our responsibilities extend beyond our corporate walls. That's why we created the Aegon Transamerica Foundation in 1994. Through a mix of financial grants and the volunteer efforts of our employees, the foundation supports nonprofit organizations focused on the things that matter most to our people in the communities where we live and work.
Transamerica’s Parent Company Aegon acquired the Transamerica business in 1999. Since its start in 1844, Aegon has grown into an international company serving more than 23.9 million people across the globe.* It offers investment, protection, and retirement solutions, always with a clear purpose:
Helping people live their best lives.
As a leading global investor and employer, the company seeks to have a positive impact by addressing critical environmental and societal issues, with a focus on climate change and inclusion and diversity.
As of December 31, 2023
#J-18808-Ljbffr