Sr. Actuarial Associate - Mortality Assumptions

This newly added Actuarial position will play a key role in determining Venerable’s variable annuity assumptions used to model mortality and policyholder behavior. The individual’s primary responsibilities will be monitoring experience trends, recommending assumption updates, and presenting recommendations to senior leadership for select deferred and payout variable annuity assumptions as well as playing an integral part in the transformation of Venerable’s assumption setting processes. This position will also participate in the Actuarial Student Program.

Primary Responsibilities:

• Contribute to the timely and accurate reporting of mortality and policyholder behavior experience

• Support structural, design and process improvements to experience studies through partnering with IT and outside vendors on prioritized transformation projects

• Interpret trends in experience data and propose assumption recommendations with rationale

  • Types of riders are GMDB, GMIB (Traditional and Hybrid), GMWBL, GMWB and GMAB

  • Assumptions may include deferred mortality, payout mortality, lapse, partial withdrawals, GMIB annuitizations and GMWB utilization

• Develop and present PowerPoint decks and memorandums to seek assumption proposal approval from senior management

• Request and document the financial impacts of assumption changes

• Drive for accuracy, consistency, and improvements within various experience studies

• Optimize and enhance the tools and processes used to monitor experience and set assumptions

• Ensure that any changes to experience study processes, particularly those in spreadsheets, are incorporated appropriately as transparent and repeatable processes with controls

• Collaborate with the modeling team to implement recommended assumptions into models

• Support internal and external audits, including walkthroughs and responses to questions from auditors

• Maintain updated documentation on all processes

• Provide support for internal and external audits, including walkthroughs and responses to questions from auditors

• Interact and collaborate with highly skilled staff both internally (e.g., IT, Valuation, Finance) and externally (e.g., modeling outsourcing partner)

• Support future transactions by performing various analyses related to experience studies

Key Qualifications:

• Bachelor’s degree in Mathematics, Actuarial Science, Finance or related business discipline

• Completion of 5-6 actuarial exams; near ASA / ASA

• 3-4+ years financial, insurance industry, or actuarial experience

• Strong computer skills are required: Advanced knowledge of Microsoft Excel, Access, VBA, proficient in SQL Server, R or Python, Microsoft PowerPoint, experience with Microsoft PowerBI is a plus

• Detail oriented and ability to analyze and propose solutions for a range of technical actuarial issues

• Solid understanding of insurance products, regulations, or insurance company structure from prior experience

• Leverages strong oral and written communication skills to readily and effectively collaborate with peers, managers, shares information and asks questions

• Ability to manage competing priorities and deadlines

• Strong desire to learn and grow; willing to rotate to other actuarial roles

• Experience with improving and optimizing processes and reflecting appropriate controls

• Prior experience with variable annuity products preferred

• Ability to work in a cross-functional team environment

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Venerable Values: 

Every position at Venerable has responsibility for living out the company's values as described here:

We are Courageous - We think critically, ask "why?" and seek out creative solutions.

We are Curious  - We take calculated risks, learn from out failures, and challenge traditional ways of thinking.

We are Connected - We are connected to each other, our customers and our community.