Actuarial Assistant - Life Inforce Management
Sammons FinancialFull time Full day
Sammons Financial Group Companies offers some of today's most sought after life insurance, annuity, and retirement planning products. Unlike most financial organizations, our companies are not publicly traded, which means we're focused on long-term value rather than short-term earnings pressures. As a privately held company, our leaders and employees remain consistently focused on long-term growth, making decisions that allow us to deliver on our commitments to customers, distribution partners, our employees, and our communities. Individually, our companies provide value in the products and services they offer. Together we represent a history of strength and longevity.
What you can expect when you join Sammons Financial Group:
- A casual dress code including jeans
- A rich company culture driven by private ownership and intentional leadership inspiring employees to engage in our healthy, high-performing and values based culture
- Healthy balance between work and personal lives. Friday afternoons off all year long, competitive PTO and generous number of paid holidays
- Great benefits including medical, dental, vision, wellness plan, charitable giving programs, education assistance… to name a few
- ESOP-A generous 100% company funded retirement plan
What you can expect as the Actuarial Assistant - Life Inforce Management
Accurately and efficiently perform the technical actuarial tasks related to this role. This may include assisting with modeling, data analytics, product development and/or financial reporting for Sammons Financial Group (SFG) Member Companies' products. Provide technical guidance as directed.
- Develop strong knowledge of SFG products related to area of focus. Understand customer value propositions.
- Understand the basic types of insurance contracts and actuarial related regulations, basic product features and policy transactions. Apply understanding of product designs and cash flows in actuarial processes and functions. Assist in preparing materials required to comply with applicable regulations.
- Develop good knowledge of assumptions required for actuarial calculations and modeling and assist in applying them. Interpret historic data to make and justify simple recommendations for individual assumptions. Use actuarial models to understand the impact of a change in assumptions. Document assumptions made to support the work and the sources of the assumptions.
- Develop good knowledge of actuarial modeling and/or valuation software, i.e. (what the key elements are, what they can be used for and their potential shortcomings). Create and alter simple financial models, including making and validating small changes to complex models. Build tools to ensure accuracy and efficiency of models. Document model inputs and results.
- Develop basic knowledge of accounting standards and other reporting requirements covering insurance liabilities and the assets backing liabilities. Assist in analyzing basic financial reporting as needed, including balance sheets and income statements produced by actuarial models. Understand and report on pre-defined profit measures.
- Modify and use existing spreadsheet, database and other data analytic software to perform data analysis and summarize, manipulate, transform and aggregate data. Present aggregated data verbally, numerically, graphically or in another written format to highlight key features. Perform checks to confirm the robustness of the data and analysis.
- Understand basic concepts of relevant actuarial risks and the implications of failing to manage risk. Assist in the quantification of risk exposure and use model projections to produce management information to measure and to monitor on-going exposure. Assist in developing risk mitigation techniques.
- Assist with special projects as required. Work individually and/or in teams to complete projects on time and with high quality. Effectively plan and prioritize your own work in accordance with broader team or department objectives and priorities.
- Develop relationships with other departments and business units. As needed, perform actuarial calculations to support administration or test IT functionality.
- Participate in the Society of Actuaries' examination program with a satisfactory pass record per SFG's actuarial study program guidelines
What we are looking for:
- Bachelor's Degree preferably in the area of mathematics, or a business related field required
- Prefer a minimum of three (3) SOA exams and must continue to pursue an actuarial designation in the Society of Actuaries' examination program required
- 3-5 years' Experience in the field of Actuarial Science preferred
- Demonstrate a high level of mathematical ability and attention to detail and strong analytical skills
- Demonstrate strong computer skills including experience using applicable technical tools
- Demonstrate strong written and verbal communication skills
- Possess basic knowledge of insurance industry
- Ability to analyze problems or questions and provide insights to requestor
- Ability to work both individually and as part of a team
- Highly organized with the demonstrated ability to balance multiple projects
- Ability to work effectively in an office environment
- Commitment to embrace SFG shared values (Respect, Accountability, Integrity, and Openness)
- Criminal background check required.
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