Actuarial Associate

What You Can Expect In This Role

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 Company's (Sammons Financial Group) products.

• Develop basic working knowledge of Sammons Financial Group 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 basic knowledge of assumptions required for actuarial calculations and modeling and assist in applying them. Understand the rationale for making simple assumptions and judgments based on internal available data. Document assumptions made to support your work and the sources of the assumptions.
• Develop basic 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). Apply knowledge to assist in coding and running the models for a variety of purposes. Input and check the data and parameters as well as document the model inputs and model results for review by others.
• 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 for review by others.
• Use spreadsheet, database and other data analytic software to perform data analysis and summarize aggregated 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 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 Sammons Financial Group's actuarial study program guidelines.
• Commitment to embrace Sammons Financial Group Companies shared values (Accountability, Connection, Openness, Respect and Integrity).
• As stated within the Company Attendance and Punctuality policy, regular attendance is required and expected in order to meet the business service levels and workflow demands.
• Participate in other initiatives and/or projects as necessary.

• Bachelor's Degree preferably in the area of Actuarial Science, Mathematics, Statistics or a business-related field Required
• Internship experience, ideally in the field of Actuarial Science Preferred
• Possess a high level of mathematical ability, strong analytical skills and pay attention to detail
• Possess strong computer skills, including spreadsheets, databases and word processing
• Possess strong written and verbal communication skills
• Highly motivated to develop a strong knowledge base of the insurance industry and an ability to learn about Sammons Financial Group products, procedures, and operations
• Ability to research problems or questions and provide responses to the requestor
• Ability to work both individually and as part of a team
• Highly organized with the ability to work on multiple projects
• Ability to work effectively in an office environment
• Must have passed a minimum…