Actuary – Economic Scenario Generation
Actuary – Economic Scenario Generation
Company Summary
Come join one of America’s fastest growing insurance companies with a stable history of 175 years. At National Life Group (“NLG”), we offer a flexible work environment with opportunity for growth. As a mission-driven business, our promises are as important as the products we sell. We encourage our associates to live our values: Do Good. Be Good. Make Good.
Our mission extends beyond the insurance and annuities policies that we sell. Our cause is also to make the world a better place through grants from our charitable foundation, paid time for our employees to volunteer, environmentally sustainable and healthy work sites, and events that promote the work of nonprofits in our own backyard.
We invite you to explore what we have to offer and to join our cause.
Role Summary
This Actuary will be responsible for the development of economic scenario models to be used throughout the organization, including Asset/Liability Management, Asset Adequacy Testing, Valuation, Pricing, Value of New Business, Forecasting, and ad hoc needs. This includes deterministic scenarios and stochastic scenarios using vendor software and in-house models. This individual is expected to have detailed knowledge of the company's actuarial models, industry best practices related to economic scenario generation, asset/liability management, statutory and GAAP accounting frameworks, enterprise risk management, and model governance.
Essential Duties and Responsibilities
- Develop deterministic and stochastic economic scenario models to be used for actuarial modeling activities (AAT, ALM, VNB, Forecasting, Valuation, Pricing, etc.)
- Partner with external ESG vendor to optimize models for NLG's needs
- Validate economic scenarios as fit for purpose, including Martingale testing for Risk Neutral Scenarios
- Participate in model governance activities, including model validation, model change management, and documentation
- Partner with internal constituents to ensure economic scenario needs are being adequately met
- This position is presently onsite/hybrid with the expectation that you are in the office three days per week with current campus days being Tuesday, Wednesday and Thursday (subject to change with advance notification and manager discretion).
Minimum Qualifications
- Significant experience with economic scenario generation
- Knowledge of life insurance, annuity, and investment products and terminology
- Must have a proficiency in Microsoft Office Suite (Word, Excel, Outlook)
- Strong interpersonal skills; ability to work independently as well as being a team player
- Strong coordination, communication, and influencing skills
- 8+ years of relevant actuarial experience
Preferred Qualifications
- FSA or career ASA required
- CFA highly desired
- Bachelor's Degree in Actuarial Science, Mathematics, Statistics, Economics or related field
- Experience with actuarial software, MG-ALFA/Integrate preferred
- Experience with Big Data software, Alteryx & Tableau preferred
- Experience projecting various market indices, including bespoke volatility-controlled indices
- Ability to work effectively with team members in different geographic locations
Benefits
- Your benefits start day one and are flexible and customizable to your and your family’s specific needs. Check out the BENEFITS of a Career at National Life!
The base compensation range represents the low and high end of the range for this position. Actual compensation will vary and may be above or below the range based on various factors including but not limited to qualifications, skills, competencies, location, and experience. The range listed is just one component of our total compensation package for employees.
Other rewards may include an annual bonus, quarterly bonuses, commissions, and other long-term incentive compensation, depending on the position. National Life offers a competitive total rewards package which includes: a 401(k) retirement plan match; medical, dental, and vision insurance; a company funded wellness account for director and below employees; 10 paid holidays; a generous paid time off plan (22 days of combined time-off for non-exempt employees and exempt employees have discretion in managing their time, including scheduling time off in the normal course of business, but in no event will exempt employees receive less sick time than required by state or local law); 6 weeks of paid parental leave; and 6 weeks of paid family leave after a year of full-time employment.
National Life is accepting applications for this role on an ongoing basis and the role remains open until filled.
National Life Group® is a trade name of National Life Insurance Company, Montpelier, VT – founded in 1848, Life Insurance Company of the Southwest, Addison, TX – chartered in 1955, and their affiliates. Each company of National Life Group is solely responsible for its own financial condition and contractual obligations. Life Insurance Company of the Southwest is not an authorized insurer in New York and does not conduct insurance business in New York. Equity Services, Inc., Member FINRA/SIPC, is a Broker/Dealer and Registered Investment Adviser affiliate of National Life Insurance Company. All other entities are independent of the companies of National Life Group.
National Life Group
1 National Life Dr
Montpelier, VT 05604
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