Life Actuary
Company: USAA
Location: Phoenix
Posted on: April 17, 2024
Job Description:
Why USAA?At USAA, we have an important mission: facilitating the
financial security of millions of U.S. military members and their
families. Not all of our employees served in our nation's military,
but we all share in the mission to give back to those who did.
We're working as one to build a great experience and make a real
impact for our members.
We believe in our core values of honesty, integrity, loyalty and
service. They're what guides everything we do - from how we treat
our members to how we treat each other. Come be a part of what
makes us so special!The OpportunityWe have an opportunity for a
dedicated Life Actuary to join the Life Company assumption
development team. This team owns the development, documentation,
and monitoring of actuarial assumption models that support our
Valuation, Pricing, Asset Liability, and Modeling areas for various
Life Insurance, Annuity, and Health products. - The Actuary will
own the development and socialization of our more complex models
and will be tasked with exploring alternate development
methodologies that would enhance the model's overall performance. -
- - -This role coordinates, prepares, and performs actuarial
analyses required to develop new products, project future results,
reprice existing products, and/or determine financial strength.This
position can work remotely in the continental U.S. with occasional
business travel OR in the San Antonio Campus 4 days per week.
Relocation assistance is available for this position.What you'll
do:
- Performs complex work assignments utilizing actuarial modeling
software driven models for pricing, valuation, and/or risk
management.
- Reviews laws and regulations to ensure all processes are
compliant; and provides recommendations for improvements and
monitors industry communications regarding potential changes to
existing laws and regulations.
- Runs models, generates reports, and presents recommendations
and detailed analysis of all model runs to Actuarial
Leadership.
- May make recommendations for model adjustments and
improvements, when appropriate.
- Shares knowledge with team members and serves as a resource to
team on escalated issues and navigates obstacles to deliver work
product.
- Leads or participates as a key resource on moderately complex
projects through concept, planning, execution, and implementation
phases with minimal guidance, involving cross functional actuarial
areas.
- Develops exhibits and reports that help explain
proposals/findings and provides information in an understandable
and usable format for stakeholders.
- Identifies and provides recommended solutions to business
problems independently, often presenting recommendation to
leadership.
- 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.
- Tests impact of assumptions by identifying sources of gain and
loss, the appropriate premiums, interest margins, reserves, and
cash values for profitability and viability of new and existing
products.
- Advises management on issues and serves as a primary resource
for their individual team members on escalated issues.
- Ensures risks associated with business activities are
effectively identified, measured, monitored, and controlled in
accordance with risk and compliance policies and procedures.What
you have:
- 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. -
- 4 years relevant actuarial or analytical experience and
attainment of Fellow within the Society of Actuaries (8 years of
experience and FSA without Bachelors); OR 8 years relevant
actuarial experience and attainment of Associate within the Society
of Actuaries (12 years of experience and ASA without
Bachelors).
- Experience performing complex work assignments utilizing
actuarial modeling software driven models for pricing, valuation,
and/or risk management.
- Demonstrated experience communicating complex actuarial
analysis and recommendations to technical and non-technical
audiences.What sets you apart:
- US military experience through military service or a military
spouse/domestic partner
- FSA (Fellow of the Society of Actuaries) Designation
- Experience with developing complex assumptions models; ex.
Generalized Linear Model (GLM)
- Experience with programming software, ex. R or Python
- Communicating complex results to various audiences
- AXIS modeling experienceThe above description reflects the
details considered necessary to describe the principal functions of
the job and should not be construed as a detailed description of
all the work requirements that may be performed in the job.What we
offer:Compensation: USAA has an effective process for assessing
market data and establishing ranges to ensure we remain
competitive. You are paid within the salary range based on your
experience and market data of the position. The actual salary for
this role may vary by location. The salary range for this position
is: $120,550 - $230,400.Employees may be eligible for pay
incentives based on overall corporate and individual performance
and at the discretion of the USAA Board of Directors.Benefits: At
USAA our employees enjoy best-in-class benefits to support their
physical, financial, and emotional wellness. These benefits include
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, and
various wellness programs. Additionally, our career path planning,
and continuing education assists employees with their professional
goals.For more details on our outstanding benefits, please visit
our benefits page on USAAjobs.com.Applications for this position
are accepted on an ongoing basis, this posting will remain open
until the position is filled. Thus, interested candidates are
encouraged to apply the same day they view this posting. -USAA is
an Equal Opportunity Employer. All qualified applicants will
receive consideration for employment without regard to race, color,
religion, sex, sexual orientation, gender identity, national
origin, disability, or status as a protected veteran.
Keywords: USAA, Surprise , Life Actuary, Other , Phoenix, Arizona
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