Position Summary

Pension Risk Transfer (PRT) is one of the fastest growing markets in the insurance industry, boasting a 20% compound annual growth rate since 2015 and exhibiting nearly $50 billion of transactions in 2022.  Institutional Retirement Solutions is looking for an individual to provide oversight over all actuarial aspects of our PRT business (pricing, valuation, product development, financial oversight, R&D, etc.).  A successful individual in this role must be intellectually curious, able to collaborate across the organization, and provide strategic insights to meet our growth objectives.  You’ll be surrounded by a broader team, providing you the support you need in the near term and allowing you bountiful opportunities to grow your skillset and strengthen your personal brand.  Come be the face of PRT for Securian!!

Responsibilities include, but are not limited to:

Provide in-depth, highly complex analysis of the Longevity suite of products

• Owner of PRT pricing model and process, decision maker on final price for all plans, weighting the risk and opportunity of the bid against divisional and enterprise goals/objectives.
• Leads product development efforts, including research and development of new product features and capabilities
• Leads large and/or complex projects that support Longevity products.
• Owner of actuarial underwriting efforts, providng sign-off based on plan size and ensuring the underwriting process appropriately analyzes risk present in each bid.
• Oversees the connection between pricing and valuation models, to ensure consistent and appropriate calculation of pricing metrics.
• Owns assumption setting for Longevity products, including annual experience studies and bid-specific mortality experience data analysis.  Ensures pricing model and best estimate projections appropriately updated.
• Reviews contract language and actuarial memorandum, as needed, ensuring state regulations appropriately met; works with document signers on appropriateness of language.
• Oversight of annuity calculation tools, ensuring appropraite of quoting tools for the intended purpose

Own the financial calculations for the Longevity block of business

• Owner of quarterly valuation work, providing guidance to junior staff of methodology and efforts to ensure data is correct and models are appropriate for the intended puropse. 
• Own the analysis of quartelry/annual financial results for the Longevity block, providing insights of experience, comparisons to pricing, etc.
• Lead the development of annual goals and plans projections
• Lead ad hoc financial analysis

Collaborates with and influences leadership to shape area strategy

• Provides pricing education and recommendations for large case pricing approval to PRT governance and executive steering committee.  Influences decision making, steering leadership to balance risk with opportunity, in alignment with sales goals
• Key member collaborating with divisional leadership in setting Longevity growth strategy
• Lead prioritization of research and development efforts, aligning project efforts with divisional strategy, including revenue, sales, and earnings growth objectives

Manage key channel partner relationships

• With Business Operations Sr Manager, meet regularly with key intermediaries to understand industry evoluation and provide context on Securian’s offering
• Participate in industry conferences, gaining insights into key topics, networking with various firms, and adding to evolution of industry offerings
• Support relationship with industry relationships (e.g. LOMA, LIMRA) through engagement with topics of interest, data requests, and other times

Work direct others in various capacities, providing actuarial education and appropriate oversight of results

• Owns longevity valuaiton processes, through direction of more junior staff; verity final results comply with internal (FRCC) and external (ASOP) requirements
• Lead actuarial staff through pricing exercises, product development efforts, etc. related to Longevity products

Collaborate with Securian’s Enterprise Risk Management (ERM) framework, ensuring Longevity products are apprpriate given the enterprise’s risk appetite and strategic goals

• Engage with the Asset-Liability Management Group infrastructure to set aggregate investment strategy and targets (credit quality, duration, etc.).
• Lead discussions with the CRO and ERM team to ensure capital usage aligns with enterprise risk based capital targets; adjust pricing strategy as appopriate
• Provide leadership on enterprise committees (Mortality Task Force, Product Risk Review Committee, SLIC ALM Group, Actuarial Pricing Governance Committee)
• Aid in preparation and present to executive risk committees (FRC, Risk Council, etc.), as needed

Required qualifications/experiences

• Actuarial designation (FSA)
• Breadth and depth of knowledge and understanding of many actuarial functions, how they inter-relate, and the implications they have on each other
• Exhibited ability to apply actuarial discipline/approach to a variety of situations

Preferred qualifications

• Understanding of PRT industry trends and their impacts on the business
• High degree of sophistication within longevity risk, pricing, and product development initiatives
• Intellectual curiosity; desire to continue learnings and evolving skills and education

Securian Financial believes in hybrid work as an integral part of our culture. Associates get the benefit of working both virtually and in our offices. If you’re in a commutable distance (90 minutes) you’ll join us 2-3 days each week in our offices to collaborate and build relationships. Our policy allows flexibility for the reality of business and personal schedules. When working in our offices at least two days per week isn’t feasible (vacations, illness, travel, etc.), an eight day per month standard is an option.

Physical Job Requirements:

• Ability to utilize the keyboard, computer and/or mouse for up to 8 hours per day
• Ability to work at least 40 hours per week
• Ability to utilize the phone and/or virtual meeting platform for 1-4 hours per day

The physical job requirements described above are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodation may be made to enable individuals with disabilities to perform the essential functions of jobs.

Securian Financial Group, Inc. does not discriminate based on race, color, religion, national origin, sex, gender, gender identity, sexual orientation, age, marital or familial status, pregnancy, disability, genetic information, political affiliation, veteran status, status in regard to public assistance or any other protected status. If you are a job seeker with a disability and require an accommodation to apply for one of our jobs, please contact us by email at Employment@Securian.com, by telephone 651-655-5522 (voice), or 711 (Relay/TTY).

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