Actuary performing experience studies for Retirement products at Voya Financial. Overseeing calculations and assumptions, supporting regulatory initiatives, and collaborating across teams.
About the role
- Dedicated Life Actuary Associate to join Life Company’s Actuarial Modeling Team. Responsible for actuarial analyses for new products and existing product repricing.
Responsibilities
- Performs moderately complex to complex work assignments utilizing actuarial modeling software driven models for pricing, valuation, and/or risk management.
- Responsible for data compilation, analytical support, and data integrity to include entering data and tables, running models, and generating reports.
- Participates in developing recommendations for model adjustments and improvements, when appropriate.
- Identifies and resolves issues pertaining to model projections and data analysis.
- Navigates obstacles that arise to deliver the work product.
- Serves as a resource to team members on escalated issues of a routine to moderately complex nature.
- Serves as a key resource on projects involving cross functional actuarial areas.
- Leads smaller projects through concept, planning, execution, and implementation phases with minimal guidance (i.e. leading annual assumption/ model updates).
- Produces charts, tables, and reports to explain calculations and proposals.
- Maintains and develops procedures supporting key processes, including but not limited to: actuarial models, tools leveraged in complying with laws and regulations, reports, etc.
- Maintains proper price level, price structure, data availability and other requirements to achieve profitability and competitive goals.
- Identifies critical assumptions to monitor and suggest timely remedies to correct or prevent unfavorable trends.
- Identifies sources of gain and loss by product and assumption with presentations to direct supervisor.
- Tests impact of assumptions and the appropriate premiums, interest margins, reserves, and cash values for profitability and viability of new and existing products.
- Ensures risks associated with business activities are effectively identified, measured, monitored, and controlled in accordance with risk and compliance policies and procedures.
Requirements
- Bachelor’s degree OR 4 years of related experience (in addition to the minimum years of experience required) may be substituted in lieu of degree. (Total of 6 years of experience without bachelor’s degree)
- 2 years relevant actuarial, business or analytical experience.
- Attainment of Society of Actuaries Associateship OR completed all requirements for attainment of their ASA except for attending the Associateship Professionalism Course (APC).
- Experience in developing and delivering Innovative Actuarial Analyses/Processes leveraging programs such as Microsoft Excel, SAS, or other data analysis applications.
- Experience leveraging actuarial projections to gain insights and recommendations to address business challenges.
Benefits
- comprehensive medical, dental and vision plans
- 401(k)
- pension
- life insurance
- parental benefits
- adoption assistance
- paid time off program with paid holidays plus 16 paid volunteer hours
- various wellness programs
- career path planning and continuing education
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