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What You Can Expect In This Role This position may be filled at the Associate 1 or 2 level, based on skills, experience, and alignment to the role’s scope as evaluated through our structured selection process. 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. Provide technical guidance as directed.
Job Responsibility
Develop strong 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 good knowledge of assumptions required for actuarial calculations and modeling and assist in applying them. Interpret historic data to make and justify simple recommendations for individual assumptions. Use actuarial models to understand the impact of a change in assumptions. Document assumptions made to support the work and the sources of the assumptions
Develop good 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). Create and alter simple financial models, including making and validating small changes to complex models. Build tools to ensure accuracy and efficiency of models. Document model inputs and results
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
Modify and use existing spreadsheet, database and other data analytic software to perform data analysis and summarize, manipulate, transform and aggregate 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 in developing risk mitigation techniques
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' (SOA) 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
Requirements
Bachelor's Degree preferably in the area of mathematics, or a business related field
3-5 years' Experience in the field of Actuarial Science Preferred
Demonstrate a high level of mathematical ability and attention to detail and strong analytical skills
Demonstrate strong computer skills including experience using applicable technical tools
Demonstrate strong written and verbal communication skills
Possess basic knowledge of insurance industry
Ability to analyze problems or questions and provide insights to requestor
Ability to work both individually and as part of a team
Highly organized with the demonstrated ability to balance multiple projects
Ability to work effectively in an office environment
Must have passed a minimum of three (3) SOA exams And Continued pursuit of an actuarial designation in the Society of Actuaries' examination program Required
What we offer
Comprehensive health coverage for you and your family, including Medical, Dental, Vision, HSA & FSA options, and term life insurance
Competitive compensation with a performance-based incentive program tied to clear goals and individual and/or company success
Invest in your future with our 100% company-funded Employee Stock Ownership Plan (ESOP), plus automatic enrollment in our 401(k)
Work–life balance that means something. Friday afternoons off year-round, generous paid time off, and paid holidays
Commit to your growth with paid development time, tuition reimbursement, and professional development opportunities across industry, individual, and leadership programs
Make an impact beyond the workplace through volunteer time off, and our company nonprofit matching gift program, supporting the causes that matter most to you
An ownership culture that inspires
join a connected, values-driven workplace where employees take accountability, support one another, and are empowered to do their best work—together shaping our future shared success