Actuarial Associate job in New York

New York, New York - NY Mutual of America

Job Ref:	ACTUA001972
Employer:	Mutual of America
Sector:	Life Insurance Pensions/Retirement
Qualifications:	Part Qualified Actuary
Software:	Prophet
Job Type:	Full Time
Salary and Benefits:	$25 per hour
Remote:	Yes
Location
Country:	United States
State/Province/County:	New York - NY
City:	New York
Post Code:	10022
Map:	(Show on map)
Description
Mutual of America Financial Group Job Title: Actuarial Associate Location: New York, NY (Hybrid) Who We Are: At Mutual of America Financial Group, we help people build the assets they need to achieve greater financial security. Our Company is built upon a solid foundation of integrity, excellence, and social responsibility. Since 1945, we have specialized in providing small and mid-sized not-for-profit organizations and companies with pension and retirement-related services, along with leading customer support. We work diligently to understand the needs of plan sponsors. We provide them with competitively priced solutions so they can help their employees achieve their financial savings goals. We are committed to bringing talented and motivated people together to help our customers achieve a financially secure future. Role Summary: Our department directly generates revenue through product development and management for individual annuity products in Truspire while also managing group retirement products in Mutual of America. We increase revenue, optimize profit through actuarial modeling analysis, and build our reputation as a strong competitor and service provider in the individual annuity market. Our team is the core that drives education of colleagues within the company to gain knowledge and experience in this new endeavor from Finance/Actuarial to Operations/Service. This role will price and manage risk accordingly which will ensure the company will sell profitably. This actuary will also work to enhance models, set rates bi-weekly and find ways to improve profitability through product enhancements and capital efficiency among many other tasks that are necessary to implement and manage the business. Responsibilities: Develop and maintain pricing models and analyze new product design risks Perform stochastic and sensitivity pricing exercises and recommend pricing assumptions for new and existing products Create financial projections including the impact of reinsurance Explore and analyze capital-efficient initiatives geared toward enhancing annuity profitability and mitigating risk for both individual business and Pension Risk Transfer Collaborate with cross-functional teams for effective valuation/hedging functions and data reporting. Rate setting for individual business and group GDI rate renewals Create and maintain illustration models and admin/illustration system specs for individual/group business and assist with testing Required Qualifications: Bachelor's degree required Minimum 3+ years of experience in fixed indexed or index-linked annuity pricing, design, valuation, and risk hedging Demonstrated expertise in developing capital efficient pricing models to target returns on capital Knowledge of the industry, competitive marketplace, and regulatory developments Strong communication and presentation skills Advanced experience with MS-Office and experience with Prophet Expert analytical and problem-solving skills Preferred Qualifications: ASA or CFA preferred Experience Prophet modelling 5+ years of experience in fixed indexed annuities or index-linked annuity pricing and product development Variable annuity and fixed annuity pricing experience What we offer you: Competitive base salary Annual Bonus Comprehensive Benefits Package (medical, dental, and vision) that starts day one of employment 401(k) Match: You will be eligible to receive up to 9% of your pay (salary and incentive compensation) in company contributions. A non-elective employer contribution of 3%, plus a 100% employer match on employee contributions of up to 6% of pay. Parental Leave: 8 weeks fully paid Paid time off: 20 days plus two floating personal holidays Matching Gift Program: Mutual of America matches donations of $25 or more to your favorite organizations The salary range below describes the minimum to maximum base salary range for this role. The role is also eligible for an annual bonus, whereby total compensation may exceed this range depending on individual and / or company performance. Base Salary Range: $97,000 - $145,000 Level: 6 Visitwww.mutualofamerica.com/careersfor additional details about life at Mutual of America. You can also follow us onTwitter:@mutualofamerica \|Facebook:@mutualofamerica Mutual of America Financial Group provides equal employment opportunity to all qualified employees and applicants for employment regardless of race, color, creed, religion, sex, pregnancy, national origin, ancestry, citizenship status, age, marital or partnership status, sexual orientation, gender identity or expression, disability, genetic predisposition, veteran or military status, or any other classification prohibited by applicable law. #LI-JB1

ref: (ACTUA001972) 12 days ago

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Actuarial Associate job in New York

New York, New York - NY Mutual of America

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