Assistant Actuary

At Banner Life Insurance Company, we lead with heart and ambition. Every day, we transform purpose into progress, guided by our unwavering commitment to be better for our customers, clients, and communities, not just today but long-term as well. Our people are the driving force behind everything we achieve. Their passion, purpose, and pursuit of innovation empower us to deliver cutting-edge solutions that support those we serve, ensuring we are here for you, here for good and striving for better.

We're a forward-thinking company energized by our work and how we show up for one another. Our culture is built on meaningful impact and genuine enjoyment, because we believe great work and great experiences should go hand in hand.

By offering career development opportunities, comprehensive benefits, and programs that support your wellbeing, we help you thrive personally and professionally. We are here for you, here for good and here for better.

Responsible for supporting the development, enhancement, and maintenance of asset related actuarial models supporting our Trad, Universal Life (UL), Immediate Annuity and Deferred Annuity (SPIA/DA), & Pension Risk Transfer (PRT) and other businesses. Models are used for various purposes, including Valuation for all applicable accounting bases (Solvency II, Cash Flow Testing, IFRS, STAT, GAAP, Bermuda EBS, etc.), Corporate Planning, Investment Analysis, and Financial Reinsurance Pricing.

All model development must meet model validation, control, and documentation requirements defined by the company's model governance policy and procedures.

Provide asset modeling for Axis production datasets including Trad, PRT, UL, SPIA& DA.
1. Support model review and release and compliance with MRCC requirements
2. Provide insights into emerging business needs including new asset types, new regulations
3. Perform analysis on existing asset types to confirm appropriateness of model and data
4. Develop, review, and test asset models using Axis, Excel, SQL or other software, ensuring models are appropriately built and are fit for the intended purposes
5. Maintain detailed documentation of all changes and evidence of appropriate model governance
6. Maintain multiple reinvestment strategies and accounting bases for various purposes (PRT Plan, Protection Plan, CFT, etc.)
7. Monthly creation for Discount Rate in AXIS for applicable accounting bases
8. Quarterly creation for IFRS Top-down discount rates, IFRS Expected Return (Op Profit) and support in AXIS for IFRS Investment Variance Analysis
9. Creation of periodic Asset specific reports used for reporting and/or analysis by Valuation and Investments
10. MV Stress Testing for applicable accounting bases (IFRS and/or US GAAP, SII, ALM, ICS, Bermuda Reporting, etc)
11. Multi-Assumption Asset Cash flows
12. Support Market Spread/Duration calculations
13. Support financial assumption setting for applicable accounting bases, and asset sensitivities for Banner and associated Legal entities (Penn, Vermont Captives, Bermuda, etc.).
14. Support IFRS 9 requirements
15. Provides asset modeling expertise and collaborate with accounting, valuation, finance, model development, financial planning, IT, and others,
16. Provide subject matter expertise, mentoring and training for more junior staff members on technical asset modeling tasks.
17. Other duties as required.

Education

BS/BA Math/Statistics/Other Analytical Field

ASA (Career or working toward FSA)

Experience/Knowledge

• 5+ years of Investment/Life insurance/actuarial experience
• Model development or modeling experience preferred
• Asset Modeling/Scenario Testing experience is a plus
• Term/Universal Life/Pension Risk Transfer experience is a plus

Skills

• Actuarial software skills - GGY-AXIS experience required,
• Additional software experience a plus
• Spreadsheet and database capabilities (Excel, MS Access, VBA, SQL)
• Proficient written and oral communication skills
• Ability to multi-task in a deadline-oriented environment
• Strong collaboration and self-motivation skills
• Strong analytical skills and problem solving ability
• IFRS experience and/or US GAAP experience preferred

What's in it for you?

The expected hiring compensation range for this position is $107,800 - $148,200 annually. This is a remote opportunity operating on EST.

The total compensation package for this position may include other elements, such as a sign-on bonus, long term incentives, and annual bonuses. This role is eligible to participate in the Annual Incentive Plan. The current target payment for the position is 20% of base salary, modified for corporate and individual performance. Bonuses are pro-rated based on start date. This role has 20 vacation days and 10 sick days that are accrued on a bi-weekly basis. Employees also have 9 paid holidays throughout the calendar year.

We have a competitive compensation and benefits package focused on your overall wellbeing. Employee benefits include health, life, and dental insurance; 401K with company match up to 6% as well as a pension package; generous time off; and wellbeing initiatives throughout the year (we like doing fun stuff). We're big on professional development and we'll support and mentor you in your career progression and expect you to help us pay it forward by helping us develop tomorrow's leaders and growth-focused professionals. We value our teams and our communities and believe in giving back. Enjoy time off to volunteer for those causes that matter most to you!

If hired, employee will be in an "at-will position" and the Company reserves the right to modify base salary (as well as any other discretionary payment or compensation program) at any time, including for reasons related to individual performance, Company or individual department/team performance, and market factors. The Company reserves the right to change benefits plans at any time.

We are an equal opportunity employer and value diversity at our company. We do not discriminate based on race, religion, color, national origin, sex, gender, gender expression, sexual orientation, age, marital status, veteran status, or disability status. We will ensure that individuals with disabilities are provided reasonable accommodation to participate in the job application or interview process, perform essential job functions, and receive other benefits and privileges of employment. Please contact us to request accommodation.