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Senior Actuarial Analyst, Life/Health Pricing
Bloomington , IL 61701
Posted 3 weeks ago
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The Senior Actuarial Analyst prepares profit studies for determining pricing of traditional products, and interest crediting parameters for interest sensitive products. Performs competitive analysis of other companies to ensure products are appropriately placed within the market. Assists in preparing actuarial demonstrations of products. Assists in enabling administrative systems to accept and administer products. Prepares pricing documentation and assist in analysis of emerging experience. Automates pricing and administrative routines to develop company efficiencies. Uses financial knowledge to offer comments on link between product design and financial returns.
This role develops basic to very complex actuarial models leading to the recommendation of extensive and impactful strategies for life insurance company management. Creates and utilizes actuarial models and knowledge to consult and influence management towards courses of action that have impact on products/pricing, valuation, modeling, profitability, underwriting, administration, risk management, and markets. Is typically actively working towards actuarial designations through the Society of Actuaries or has obtained actuarial credentials.
*This position is part of a job family. Placement will be determined by skills and qualifications of the candidate.
- Builds actuarial assumptions and models using a variety of tools, including actuarial modeling software, data visualization applications, programming languages and MS office applications.
- Communicates results to direct management, verbally, in writing or in presentation form. Documents work according to actuarial standards of practice.
- Works towards actuarial designation from the Society of Actuaries.
- Associate of the Society of Actuaries.
- 5 years of life insurance company experience with strong work performance.
- Comprehensive and current knowledge of nonforfeiture standards, actuarial standards of practice, definition of life insurance, and federal taxation of insurance products.
- In depth experience working with actuarial modeling software, including programming new product features, solving for premiums, and analyzing output.
- Effective communication of actuarial pricing concepts and financial returns on product offerings.
- Typically requires:
- Bachelors degree in Actuarial Science, Mathematics, Statistics or related field of study and at least 5 years of actuarial or related experienceOR,
- Masters degree in Actuarial Science, Mathematics, Statistics or related field of study and at least 3 years of actuarial or related experience.
- Normal office environment.
- Work may extend beyond normal business hours as business needs dictate.