Associate Actuary – Indexed Annuity Pricing
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
Job Description Summary Directs and provides leadership in the design, pricing, and implementation of indexed annuity products (RILA and FIA). Provides analysis and recommendations related to the profitability and risk of said products.
Responsibilities
Oversee and/or lead weekly dashboard analysis, monthly reporting, and quarter‑end financial reporting for new business.
Oversee weekly rate‑setting analysis, assist in rate recommendations, and the implementation of rate changes.
Maintain and manipulate pricing models for the analysis of new and existing products and product features.
Monitor and analyze developments in actuarial techniques, laws, competitive landscape, and regulations applicable to annuity products and company operations.
Assess the financial implications of reinsurance strategies and provide recommendations on potential reinsurance treaties.
Assess profitability in varying economic environments on multiple bases, including IFRS, statutory, market consistent, and/or GAAP. Ensure compliance with corporate risk and return targets.
Work closely with product development and competitive intelligence function. Support product development of indexed annuities, via pricing various preliminary ideas, sensitivity testing products before launch, and filing support.
Qualifications
FSA or equivalent professional designation along with Bachelor's Degree in Actuarial Science, Mathematics, Statistics, Economics or related field and 5 years of relevant experience. In lieu of Bachelor's, will accept Master's in a listed discipline and 4 years of relevant experience. In lieu of FSA will accept ASA or equivalent professional designation and 8 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
Strong background in indexed products such as RILA or FIA preferred, and the fundamentals of derivatives
Demonstrates high‑quality leadership, judgment, organization and prioritization skills
Exhibits effective time management skills to manage multiple priorities effectively
Works well independently with the ability to help manage a project involving other constituents.
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
Knowledge of annuities and risk/return profiles of various assets is strongly preferred.
Familiarity with IFRS 17, GAAP Targeted Improvements for Long Duration Contracts, VM21/22/23 preferred
Strong background in coding/Python strongly preferred.
Experience with Excel, PowerBI, VBA, Python, and SQL preferred
Working Conditions
Hybrid Office Environment
Limited travel may be required
Compensation
The Salary for this position generally ranges between $130,000 - $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 based on the Company Bonus Plan/Individual Performance and is at the Company’s discretion.
Applicants must possess legal authorization to work for our company in the U.S. without the need for immigration, sponsorship or otherwise serving as an employer of record for immigration employment purposes. At this time, this role is not eligible for immigration‑related employment authorization sponsorship.
This is a hybrid position requiring three days in office per week in one of our hub locations. Relocation assistance will not be provided for this position.
Disclaimer Beware of fake job offers!
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 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.
#J-18808-Ljbffr
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
Job Description Summary Directs and provides leadership in the design, pricing, and implementation of indexed annuity products (RILA and FIA). Provides analysis and recommendations related to the profitability and risk of said products.
Responsibilities
Oversee and/or lead weekly dashboard analysis, monthly reporting, and quarter‑end financial reporting for new business.
Oversee weekly rate‑setting analysis, assist in rate recommendations, and the implementation of rate changes.
Maintain and manipulate pricing models for the analysis of new and existing products and product features.
Monitor and analyze developments in actuarial techniques, laws, competitive landscape, and regulations applicable to annuity products and company operations.
Assess the financial implications of reinsurance strategies and provide recommendations on potential reinsurance treaties.
Assess profitability in varying economic environments on multiple bases, including IFRS, statutory, market consistent, and/or GAAP. Ensure compliance with corporate risk and return targets.
Work closely with product development and competitive intelligence function. Support product development of indexed annuities, via pricing various preliminary ideas, sensitivity testing products before launch, and filing support.
Qualifications
FSA or equivalent professional designation along with Bachelor's Degree in Actuarial Science, Mathematics, Statistics, Economics or related field and 5 years of relevant experience. In lieu of Bachelor's, will accept Master's in a listed discipline and 4 years of relevant experience. In lieu of FSA will accept ASA or equivalent professional designation and 8 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
Strong background in indexed products such as RILA or FIA preferred, and the fundamentals of derivatives
Demonstrates high‑quality leadership, judgment, organization and prioritization skills
Exhibits effective time management skills to manage multiple priorities effectively
Works well independently with the ability to help manage a project involving other constituents.
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
Knowledge of annuities and risk/return profiles of various assets is strongly preferred.
Familiarity with IFRS 17, GAAP Targeted Improvements for Long Duration Contracts, VM21/22/23 preferred
Strong background in coding/Python strongly preferred.
Experience with Excel, PowerBI, VBA, Python, and SQL preferred
Working Conditions
Hybrid Office Environment
Limited travel may be required
Compensation
The Salary for this position generally ranges between $130,000 - $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 based on the Company Bonus Plan/Individual Performance and is at the Company’s discretion.
Applicants must possess legal authorization to work for our company in the U.S. without the need for immigration, sponsorship or otherwise serving as an employer of record for immigration employment purposes. At this time, this role is not eligible for immigration‑related employment authorization sponsorship.
This is a hybrid position requiring three days in office per week in one of our hub locations. Relocation assistance will not be provided for this position.
Disclaimer Beware of fake job offers!
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 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.
#J-18808-Ljbffr