Actuary - Assistant Director at Northwestern Mutual

Summary

Provide professional actuarial advice/services critical to development, implementation and maintenance of the Company's insurance, disability, annuity, and long-term care products. The Actuarial Department develops appropriate premiums, dividends, reserves, and surplus requirements by analyzing mortality, morbidity, persistency, investment and expense experience, striving to maintain equity and consistency among all policy owner underwriting classes, while safeguarding the Company's long term financial strength. Perform/supervise actuarial work required to advise on matters related to product pricing, dividend setting, reserve levels, mortality/morbidity issues, and field compensation. Additionally, strive to keep current on actuarial techniques, and on laws and regulations pertinent to your area of expertise; provide guidance to others within your assigned field of expertise.

Primary Duties and Responsibilities

• Responsible for pricing analyses for the Company’s annuity products, including for fixed deferred, income, and variable annuities.  This includes updating assumptions, running pricing models, collaborating on updates to the pricing models, and analyzing and presenting results.
• The position would be part of a small actuarial annuity pricing team, working closely with the corporate actuarial risk team.  It is anticipated that this role would grow to have management responsibilities. 
• Partner with the annuity product area on product development efforts and inforce management.  This would include efforts focused on the development of new products, updating designs of currently issued products, repricing to reflect updated experience assumptions.
• Collaborate on analyzing experience data to build key pricing assumptions.   
• Assist in contract drafting, prospectus review, and competitive analyses.
• Support rate setting, analysis of annuity financial performance, and annuity risk management.

Qualifications

• Undergraduate degree in Actuarial Science, Mathematics, Finance, or related field.
• Attainment of Fellow of the Society of Actuaries (FSA) designation.
• A minimum of four years of proven actuarial experience.
• Annuity pricing experience required.
• Strong communication skills.
• Knowledge of annuity valuation, financial modeling, and experience analysis.

Skills-Proficiency Level:

Actuarial Modeling - Expert

Computer Programming - Intermediate

Decision Making - Intermediate

Enterprise Agility - Intermediate

Financial Risk Analysis - Expert

Industry Knowledge - Intermediate

Legislative Policy - Basic

Mathematical Analysis - Expert

Negotiation – Intermediate

Product Knowledge - Expert

Risk Management - Expert

Technical Communication - Expert

#LI-Hybrid

$110,040.00

$204,360.00

Northwestern Mutual pays on a geographic-specific salary structure and placement in the salary range for this position will be determined by a number of factors including the skills, education, training, credentials and experience of the candidate; the scope, complexity as well as the cost of labor in the market; and other conditions of employment. At Northwestern Mutual, it is not typical for an individual to be hired at or near the top of the range for their role and compensation decisions are dependent on the facts and circumstances of each case. Please note that the salary range listed in the posting is the standard pay structure. Positions in certain locations (such as California) may provide an increase on the standard pay structure based on the location. Please c lick here for additional information relating to location-based pay structures.

We are an equal opportunity/affirmative action employer and all qualified applicants will receive consideration for employment without regard to race, color, religion, gender identity or expression, sexual orientation, national origin, disability, age or status as a protected veteran, or any other characteristic protected by law.

If you work or would be working in California, Colorado, New York City, Washington or outside of a Corporate location, please click here for information pertaining to compensation and benefits.

FIND YOUR FUTURE

We’re excited about the potential people bring to Northwestern Mutual. You can grow your career here while enjoying first-class perks, benefits, and commitment to diversity and inclusion. 

• Flexible work schedules
• Concierge service
• Comprehensive benefits
• Employee resource groups