- Serve as the Model Owner for the Term new business models. As such, responsibilities include:
- Ensuring that assumptions and product features are up-to-date and accurately modeled.
- Completing model changes in accordance with Model Change Management best practices.
- Documenting model changes and processes.
- Report on the quarterly profitability of Term new business sales.
- Build new business cohorts and run AXIS models.
- Analyze MCVNB and Statutory (and If necessary, IFRS) results; and explain the change in profitability from one quarter to the next, based on changes in economics, sales, assumption/model changes and sales mix.
- Communicate the rollforward to management and others.
- Perform sensitivity and scenario testing for assumption changes, reinsurance programs and other management programs.
- Stay current with changes to insurance regulations, Company practices and guidelines (e.g. Pricing and Product Development Policy - PPDP; Model Risk Management Policy)
- Lead the department in the Risk Review of the Term models by serving as its main point of contact.
- As needed, actively participate in meetings and working groups.
- May supervise one or two actuarial students.
Qualifications
- FSA or equivalent professional designation along with Bachelor's Degree in Actuarial Science, Mathematics, Statistics, Economics or related field and 6 years of relevant experience. In lieu of Bachelor's, will accept Master's in a listed discipline and 4 years of relevant experience. In lieu of FSA will accept ASA or equivalent professional designation and 10 years of relevant experience.
- Demonstrates high quality leadership, judgment, organization and prioritization skills.
- Effectively communicates, both verbally and in writing, advanced mathematical and analytical concepts to various audiences.
- Works well under pressure and within time constraints to effectively accomplish individual and team objectives.
- Excellent computer skills.
Preferred Qualifications
- Axis modeling experience
- Proficiency with creating or modifying Alteryx workflows.
- Proficiency with MS Office applications (WORD, PowerPoint, EXCEL)
- The ability to clearly communicate technical actuarial concepts to management or non-actuaries
Working Conditions
- Work-from-home. Limited travel may be required.
Compensation
**Please note that the compensation information that follows is a good faith estimate for this position only and is provided pursuant to applicable pay transparency and compensation posting laws. It is estimated based on what a successful candidate might be paid in certain Company locations.**
The Salary for this position generally ranges between $130,000 - $155,000 annually. This range is an estimate, based on potential qualifications and operational needs. Salary may vary above and below the stated amounts, as permitted by applicable law.
Bonus Eligibility:
This position is also typically eligible for an Annual Bonus based on the Company Bonus Plan/Individual Performance and is at Company Discretion.
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Aegon
Aegon is a prominent global leader in the insurance and financial services industry, with a strong presence in over 20 countries. With a rich history spanning more than 175 years, Aegon has established itself as a trusted provider of innovative and reliable solutions to meet the diverse needs of its customers. As an actuary at Aegon, you will be an integral part of a dynamic team that drives the company's success through comprehensive risk assessment and management. Aegon values the expertise and insights of its actuaries, who utilize advanced analytical tools and methodologies to evaluate risks, develop pricing strategies, and ensure the financial stability of the company. With a diverse portfolio encompassing life and health insurance, retirement planning, and asset management solutions, Aegon offers actuaries a wide range of opportunities to apply their skills and make a meaningful impact. Collaborating with talented professionals, you will work on complex projects and contribute to the company's growth. Aegon is committed to nurturing professional development and provides actuaries with ongoing training and support to enhance their skills and expertise. The company fosters a culture of innovation, encouraging employees to bring forth fresh ideas and drive positive change. Join Aegon's esteemed actuarial team and embark on a fulfilling career where you can contribute to the financial security and well-being of individuals and businesses worldwide. Experience a stimulating work environment, competitive benefits, and the opportunity to shape the future of the insurance industry.