Senior Pricing Actuary - Indexed-Linked Annuity
Job Family
ActuarialAbout Us
At Transamerica, hard work, innovative thinking, and personal accountability are qualities we honor and reward. We understand the potential of leveraging the talents of a diverse workforce. We embrace an environment where employees enjoy a balance between their careers, families, communities, and personal interests.
Ultimately, we appreciate the uniqueness of a company where talented professionals work collaboratively in a positive environment — one focused on helping people look forward and plan for the best life possible while providing tools and solutions that make it easier to get there.
Who We Are
We believe everyone deserves to live their best life. More than a century ago, we were among the first financial services companies in America to serve everyday people from all walks of life.
Today, we’re part of an international holding company, with millions of customers and thousands of employees worldwide. Our insurance, retirement, and investment solutions help people make the most of what’s important to them.
We’re empowered by a vast agent network covering North America, with diversity to match. Together with our nonprofit research institute and foundation, we tune in, step up, and are a force for good — for our customers and the communities where we live, work, and play. United in our purpose, we help people create the financial freedom to live life on their terms.
What We Do
Transamerica is organized into three distinct businesses. These include 1) World Financial Group, including Transamerica Financial Advisors, 2) Protection Solutions and Savings & Investments, comprised of life insurance, annuities, employee benefits, retirement plans, and Transamerica Investment Solutions, and 3) Financial Assets, which includes legacy blocks of long term care, universal life, and variable and fixed annuities. These are supported by Transamerica Corporate, which includes Finance, People and Places, General Counsel, Risk, Internal Audit, Strategy and Development, and Corporate Affairs, which covers Communications, Brand, and Government and Policy Affairs.
Transamerica employs nearly 7,000 people. It’s part of Aegon, an integrated, diversified, international financial services group serving approximately 23.9 million customers worldwide.* For more information, visit transamerica.com.
Job Description Summary
The Senior Indexed-Linked Annuity Pricing Actuary will join an exciting and growing organization and provide leadership in the design, pricing, and implementation of indexed-linked annuity products, including Registered Indexed Linked Annuities (RILAs) or Fixed Indexed Annuities (FIA). This person will lead the pricing team and provide analysis and recommendations related to the profitability and risk of said products, allowing us to meet our strategic objectives.Job Description
Responsibilities:
- Lead small team of actuaries or actuarial students (2-3), providing strategic modeling, methodology, rate-setting, assumption, and product development direction related to indexed-linked products.
- Oversee reports and analyses to management on sales and profitability , or other similar items, ensuring we provide competitive but profitable offerings to optimize earnings.
- Oversee weekly dashboard analysis, monthly reporting, and quarter-end financial reporting for new business.
- Oversee weekly rate-setting analysis, including making rate recommendations, and the implementation of rate changes.
- Supervise the creation and maintenance of multiple pricing and new business valuation models for the analysis of new and existing products and product features.
- Monitor and analyze developments in actuarial techniques, laws, and regulations applicable to company operations, and competitive developments in the marketplace, and
- Assess the financial implications of reinsurance strategies and provide recommendations on potential reinsurance treaties.
- Assess profitability in varying economic environments on multiple bases, including IFRS, statutory, market consistent, and/or GAAP.
- Work closely with product development to price and opine on new product opportunities.
- Work closely with Finance and ALM areas to align our strategic pricing and financial goals, providing strategic insight on various financial strategies.
Qualifications:
- FSA or equivalent professional designation along with Bachelor's Degree in Actuarial Science, Mathematics, Statistics, Economics or related field, and 8 years of relevant experience. In lieu of Bachelor's, will accept Master’s in a listed discipline and 6 years or relevant experience. In lieu of FSA will accept ASA or equivalent professional designation and 14 years of relevant experience.
- Demonstrates high quality leadership, judgment, organization and prioritization skills
- Ability to direct and develop a small team
- Effectively communicates, both verbally and in writing, advanced mathematical and analytical concepts to various audiences
- Works well under pressure, within time constraints, and often with ambiguous or undefined outcomes to effectively accomplish individual and team objectives
Preferred Qualifications:
- Demonstrates high quality leadership, judgment, organization and prioritization skills
- Ability to direct and develop a small team
- Effectively communicates, both verbally and in writing, advanced mathematical and analytical concepts to various audiences
- Works well under pressure, within time constraints, and often with ambiguous or undefined outcomes to effectively accomplish individual and team objectives
Working Conditions:
- Normal office/hybrid/remote environment.
- Limited travel may be required.
Compensation:
The Salary for this position generally ranges between $155,000 - $205,000 annually. Please note that the salary range is a good faith estimate for this position and actual starting pay is determined by several factors including qualifications, experience, geography, work location designation (in-office, hybrid, remote) and operational needs. Salary may vary above and below the stated amounts, as permitted by applicable law.
Additionally, this position is typically eligible for an Annual Bonus based on the Company Bonus Plan/Individual Performance and is at the Company’s discretion.
This job description is not a contract of employment nor for any specific job responsibilities. The Company may change, add to, remove, or revoke the terms of this job description at its discretion. Managers may assign other duties and responsibilities as needed. In the event an employee or applicant requests or requires an accommodation in order to perform job functions, the applicable HR Business Partner should be contacted to evaluate the accommodation request.
What We Offer
For eligible employees, we offer a comprehensive benefits package designed to support both the personal and financial well-being of our employees.
Compensation Benefits
Competitive Pay
Bonus for Eligible Employees
Benefits Package
Pension Plan
401k Match
Employee Stock Purchase Plan
Tuition Reimbursement
Disability Insurance
Medical Insurance
Dental Insurance
Vision Insurance
Employee Discounts
Career Training & Development Opportunities
Health and Work/Life Balance Benefits
Paid Time Off starting at 160 hours annually for employees in their first year of service.
Ten (10) paid holidays per year (typically mirroring the New York Stock Exchange (NYSE) holidays).
Be Well Company holistic wellness program, which includes Wellness Coaching and Reward Dollars
Parental Leave – fifteen (15) days of paid parental leave per calendar year to eligible employees with at least one year of service at the time of birth, placement of an adopted child, or placement of a foster care child.
Adoption Assistance
Employee Assistance Program
College Coach Program
Back-Up Care Program
PTO for Volunteer Hours
Employee Matching Gifts Program
Employee Resource Groups
Inclusion and Diversity Programs
Employee Recognition Program
Referral Bonus Programs
Inclusion & Diversity
We believe our commitment to diversity and inclusion creates a work environment filled with exceptional individuals. We’re thrilled to have been recognized for our efforts through the Human Rights Campaign Corporate Equality Index, Dave Thomas Adoption Friendly Advocate, and several Seramount lists, including the Inclusion Index, 100 Best Companies for Working Parents, Best Companies for Dads, and Top 75 Companies for Executive Women.
To foster a culture of inclusivity throughout our workforce, workplace, and marketplace, Transamerica offers a wide range of diversity and inclusion programs. This includes our company-sponsored, employee-driven Employee Resource Groups (ERGs), which are formed around a shared interest or a common characteristic of diversity. ERGs are open to all employees. They provide a supportive environment to help us better appreciate our similarities and differences and understand how they benefit us all.
Giving Back
We believe our responsibilities extend beyond our corporate walls. That's why we created the Aegon Transamerica Foundation in 1994. Through a mix of financial grants and the volunteer efforts of our employees, the foundation supports nonprofit organizations focused on the things that matter most to our people in the communities where we live and work.
Transamerica’s Parent Company
Aegon acquired the Transamerica business in 1999. Since its start in 1844, Aegon has grown into an international company serving more than 23.9 million people across the globe.* It offers investment, protection, and retirement solutions, always with a clear purpose: Helping people live their best lives. As a leading global investor and employer, the company seeks to have a positive impact by addressing critical environmental and societal issues, with a focus on climate change and inclusion and diversity.
* As of December 31, 2023
Average salary estimate
If an employer mentions a salary or salary range on their job, we display it as an "Employer Estimate". If a job has no salary data, Rise displays an estimate if available.
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