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Associate Actuary - Variable Annuity Valuation (Remote)

Company: Protective Life Insurance Company
Location: Birmingham
Posted on: March 18, 2023

Job Description:

The work we do has an impact on millions of lives, and you can be a part of it.We help protect our customers against life's uncertainties. Regardless of where you work within the company, you'll be helping provide protection and peace of mind when our customers need it most.
We are seeking an experienced actuary for an open position on the variable annuity valuation team. This person will help drive the overall success of the variable annuity valuation team and the company's critical financial reporting obligations. This highly visible position will interact with other departments within the organization and play a key role in analyzing key drivers of earnings through close collaboration with the Finance Department. This position is also responsible for performing Statutory, GAAP and Tax valuation of variable annuities, which lasts about 3 weeks each quarter. The remaining time will be focused on implementation of new products and business process improvements, such as consolidating valuation models, streamlining valuation/projection/reporting processes, and implementation of new regulations.
For actuarial positions within the Actuarial Program, we aim to develop employees both through completion of actuarial examination and through practical experience. We support employees through the completion of the actuarial examination and credentialing process via competitive paid study time and full coverage of exam expenses (SOA exam fees and exam preparation material). We also provide well-rounded experience via rotations across job functions and product lines. Eligibility for certain aspects of the Actuarial Program vary by position and are dependent upon the employee staying within good standing with the Actuarial Program. Job Duties:

  • Performing quarterly Stat, Tax and GAAP valuations and earning variance analysis using AXIS software
  • Preparing monthly, quarterly and annual reports for internal and third-party clients
  • Preparing and reviewing SOX controls
  • Maintaining and improving the valuation and business plan models
  • Evaluating and communicating impacts of model updates and improvements
  • Developing automation tools for reporting/analysis as needed
  • Interacting with other departments and individuals within the organization
  • Other job duties as assigned, including ad hoc management reports.Qualifications:
    • Bachelor's degree
    • Analytical and problem-solving experience within the insurance industry
    • ASA or recent FSA
    • Excellent spreadsheet and technical skills such as SQL coding and programming skills
    • Capable of learning new software and new concepts
    • Self-starter with ability to work independently and as part of a team
    • Strong communication and interpersonal skills
    • Knowledge of annuity products, particularly variable annuity with guaranteed benefits, and annuity regulations is preferred
    • Previous valuation experience using AXIS software is preferredProtective's targeted salary range for this position is $100,000 to $130,000. Actual salaries may vary depending on factors, including but not limited to, job location, skills, and experience. The range listed is just one component of Protective's total compensation package for employees.This position also offers additional incentive opportunities [through an annual incentive based on individual and Company performance] OR [through cash compensation as part of a sales incentive plan (SIP).
      Employee Benefits: We aim to protect our employees' wellbeing through a broad benefits offering. For example, we protect physical wellbeing through health, dental and vision insurance. We protect mental wellbeing through mental health benefits and an employee assistance program. We protect time away from work with a variety of paid time away benefits (e.g., paid time off, paid parental leave, short-term disability, and a cultural observance day). We protect financial wellbeing through contributions to healthcare accounts, a pension plan, and a 401(k) plan with Company matching. All employees are encouraged to protect their overall wellbeing by engaging in ProHealth Rewards, Protective's platform to improve wellbeing while earning cash rewards. Eligibility for certain benefits may vary by position in accordance with the terms of the Company's benefit plans.
      Diversity and Inclusion: At Protective, we are committed to providing an inclusive culture where all employees are able to fully contribute and thrive. Our goal is to grow and develop our people, attract diverse talent and support strong, diverse communities.
      We support diversity, equity, and inclusion by working to develop a culture of inclusion and belonging led by leaders who develop potential and embrace unique skills and abilities. Our aim is to create an equitable and accountable environment for all leaders and employees that will drive performance and impact business strategy. In this way, we can increase overall diversity for leadership roles and pipelines of talent by maturing our hiring practices, robust development opportunities and focus on retention of key talent.
      We are proud to be an equal opportunity employer committed to being inclusive and attracting, retaining, and growing the talents of a diverse and inclusive workforce.

Keywords: Protective Life Insurance Company, Birmingham , Associate Actuary - Variable Annuity Valuation (Remote), Accounting, Auditing , Birmingham, Alabama

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