Associate Actuary – Annuity Valuation

Job Family

Actuarial

Job Description Summary

Leads and performs actuarial valuation and financial reporting for annuity products, including variable annuities and registered index-linked annuities (RILA). This role is responsible for statutory valuation, capital and reserve analysis, and delivering accurate, timely financial results. Partners with cross-functional teams to analyze model outputs, explain drivers of results, and ensure the integrity of actuarial reporting. May provide guidance to team members and contribute to ongoing improvements in actuarial modeling and reporting processes.

Job Description

Responsibilities

• Perform statutory valuation and reporting, including reserve calculations and capital analysis for annuity products (VA, RILA)

• Produce and review monthly, quarterly, and annual financial results, ensuring accuracy and timeliness

• Analyze and explain drivers of change in results (e.g., quarter-over-quarter variance, model updates, assumption changes)

• Execute and interpret results from actuarial models, ensuring outputs are reasonable and validated prior to distribution

• Support cash flow testing and contribute to broader financial reporting (including potential GAAP exposure)

• Collaborate with internal/external stakeholders to present results and communicate key insights to management and auditors/regulators.

• Identify opportunities to enhance modeling processes, controls, and reporting efficiency

• Monitors and analyzes developments in actuarial techniques, laws and regulations applicable to company operations, and competitive developments in the marketplace.

• May represent the company on industry and professional committees and/or with regulators.

• May supervise a small team of employees.

Qualifications

• Bachelor's Degree in Actuarial Science, Mathematics, Statistics, Economics or related field and 5 years of relevant experience.

• FSA or equivalent professional designation. In lieu of FSA will accept ASA or equivalent professional designation and 8 years of relevant experience.

• In lieu of Bachelor's, will accept Master's in a listed discipline and 4 years of relevant experience.

• Demonstrates high quality leadership, judgment, organization and prioritization skills.

• Effectively communicates, both verbally and in writing, advanced mathematical and analytical concepts to various audiences.

• Works well under pressure and within time constraints to effectively accomplish individual and team objectives.

• Excellent computer skills.

Preferred Qualifications

• Utilize actuarial modeling platforms (e.g. MG-ALFA, Python-based tools, or similar systems) to perform valuation analysis

Working Conditions

• This is a hybrid position requiring three days (Tuesday-Thursday) in office per week in one of our hub locations (Cedar Rapids or Denver).

• Relocation assistance will not be provided for this position

• Occasional Travel <10%

• Limited travel may be required

Compensation

The salary for this position generally ranges between $128,000 - $145,000 annually. Please note that the salary range is a good faith estimate for this position and actual starting pay is determined by several factors including qualifications, experience, geography, work location designation (in-office, hybrid, remote) and operational needs. Salary may vary above and below the stated amounts, as permitted by applicable law.

Additionally, this position is typically eligible for an Annual Bonus of 15% based on the Company Bonus Plan/Individual Performance and is at the Company’s discretion.

Disclaimer:

Beware of fake job offers!

We’ve been alerted to scammers impersonating Transamerica recruiters, particularly for remote positions. Please note:

• We will never request personal information such as ID or payment for equipment upfront.

• Official offers are sent via DocuSign following a verbal offer—not through text or email.

This job description is not a contract of employment nor for any specific job responsibilities. The Company may change, add to, remove, or revoke the terms of this job description at its discretion. Managers may assign other duties and responsibilities as needed. In the event an employee or applicant requests or requires an accommodation to perform job functions, the applicable HR Business Partner should be contacted to evaluate the accommodation request.

What We Offer

For eligible employees, we offer a comprehensive benefits package designed to support both the personal and financial well-being of our employees.

Compensation Benefits

• Competitive Pay

• Bonus for Eligible Employees

Benefits Package

• Pension Plan

• 401k Match

• Employee Stock Purchase Plan

• Tuition Reimbursement

• Disability Insurance

• Medical Insurance

• Dental Insurance

• Vision Insurance

• Employee Discounts

• Career Training & Development Opportunities

Health and Work/Life Balance Benefits

• Paid Time Off starting at 160 hours annually for employees in their first year of service.

• Ten (10) paid holidays per year (typically mirroring the New York Stock Exchange (NYSE) holidays).

• Be Well Company holistic wellness program, which includes Wellness Coaching and Reward Dollars

• Parental Leave – fifteen (15) days of paid parental leave per calendar year to eligible employees with at least one year of service at the time of birth, placement of an adopted child, or placement of a foster care child.

• Adoption Assistance

• Employee Assistance Program

• Back-Up Care Program

• PTO for Volunteer Hours

• Employee Matching Gifts Program

• Employee Resource Groups

• Inclusion and Diversity Programs

• Employee Recognition Program

• Referral Bonus Programs

Inclusion & Diversity

We believe our commitment to diversity and inclusion creates a work environment filled with exceptional individuals. We’re thrilled to have been recognized for our efforts through the Human Rights Campaign Corporate Equality Index, Dave Thomas Adoption Friendly Advocate, and several Seramount lists, including the Inclusion Index, 100 Best Companies for Working Parents, Best Companies for Dads, and Top 75 Companies for Executive Women.

To foster a culture of inclusivity throughout our workforce, workplace, and marketplace, Transamerica offers a wide range of diversity and inclusion programs. This includes our company-sponsored, employee-driven Employee Resource Groups (ERGs), which are formed around a shared interest or a common characteristic of diversity. ERGs are open to all employees. They provide a supportive environment to help us better appreciate our similarities and differences and understand how they benefit us all.

Giving Back

We believe our responsibilities extend beyond our corporate walls. That's why we created the Aegon Transamerica Foundation in 1994. Through a mix of financial grants and the volunteer efforts of our employees, the foundation supports nonprofit organizations focused on the things that matter most to our people in the communities where we live and work.

Transamerica’s Parent Company

Aegon acquired the Transamerica business in 1999. Since its start in 1844, Aegon has grown into an international company serving more than 23.9 million people across the globe.* It offers investment, protection, and retirement solutions, always with a clear purpose: Helping people live their best lives. As a leading global investor and employer, the company seeks to have a positive impact by addressing critical environmental and societal issues, with a focus on climate change and inclusion and diversity.

* As of December 31, 2023