L&A Solutions Product Associate Actuary

L&A Solutions Product Associate Actuary

Company Summary

Come join one of America’s fastest growing insurance companies with a stable history of 175 years.  At National Life Group (“NLG”), we offer a flexible work environment with opportunity for growth.  As a mission-driven business, our promises are as important as the products we sell.  We encourage our associates to live our values: Do Good. Be Good. Make Good.

Our mission extends beyond the insurance and annuities policies that we sell.  Our cause is also to make the world a better place through grants from our charitable foundation, paid time for our employees to volunteer, environmentally sustainable and healthy work sites, and events that promote the work of nonprofits in our own backyard.

We invite you to explore what we have to offer and to join our cause.

Role Summary

This individual will mainly support Life Product Development and Life and Annuity Product Delivery teams. This includes actuarial modeling, pricing, and actuarial support of regulatory filings for new indexed and fixed/traditional life products as well as ad-hoc analysis to support in force policy holders, potential large cases, and analysis of new sales ideas. This position will work closely with the broader L&A Solutions team, Customer Innovation Group and Distribution/Field Leaders to ensure agent and policyholder questions are answered, and product design and pricing are aligned with the company’s strategic goals.

Essential Duties and Responsibilities

• Partner with others in L&A Solutions, operations, legal, marketing, underwriting, and distribution as needed to support ad-hoc product requests. This includes reviewing large cases; special requests; profitability analysis; evaluating marketing programs; illustration and competitor product deep dives to understand competitor illustrations and features and optimal designs for National Life life and annuity products.
• Understands pricing practices, and develops as well as oversees modeling to set appropriate rates, understand profitability, and analyze sensitivities.
• Understands and is able to reverse engineer key features of competitor products.
• Provide support to other business areas. Recommends or advises on actuarial and business matters based on business function and actuarial expertise.
• Able to solve unique and complex problems that have an impact on the business.
• Prepare or review product specifications and actuarial reports, actuarial memos for filings, regulatory documentation, with a focus on life product expertise. Review marketing material as appropriate.
• Proactively ensures compliance with legal and regulatory requirements related to project assignments.
• Experience study review and pricing assumption analysis and support.

Minimum Qualifications

• Minimum of 6 years of Actuarial experience with in-depth knowledge of life products and benefits, including pricing experience
• FSA designation from The Society of Actuaries required, or an ASA with a significant amount of additional experience
• Working knowledge of Nonforfeiture, 7702/7702A, Illustration, and other relevant standards.
• Solid financial modeling experience and ability to independently create pricing engines using actuarial software.
• Extensive experience with Microsoft Office suite especially Excel.
• Excellent communication skills to be able to explain complex actuarial topics to nontechnical audiences.
• Self-motivated and results-focused.
• All other duties as assigned.
• This position currently offers an onsite hybrid work schedule, with the expectation that you are in the office three days per week during onsite core days. Our current onsite core days are Tuesday, Wednesday, and Thursday.  The work schedule type and core days are subject to change with advance notification and manager discretion.

Preferred Qualifications

• Member of the American Academy of Actuaries preferred.
• Experience with MG-ALFA
• Annuity product knowledge a plus.

Benefits

• Your benefits start day one and are flexible and customizable to your and your family’s specific needs. Check out the BENEFITS of a Career at National Life!

The base compensation range represents the low and high end of the range for this position. Actual compensation will vary and may be above or below the range based on various factors including but not limited to qualifications, skills, competencies, location, and experience. The range listed is just one component of our total compensation package for employees.

Other rewards may include an annual bonus, quarterly bonuses, commissions, and other long-term incentive compensation, depending on the position.  National Life offers a competitive total rewards package which includes: a 401(k) retirement plan match; medical, dental, and vision insurance; a company funded wellness account for director and below employees; 10 paid holidays; a generous paid time off plan (22 days of combined time-off for non-exempt employees and exempt employees have discretion in managing their time, including scheduling time off in the normal course of business, but in no event will exempt employees receive less sick time than required by state or local law); 6 weeks of paid parental leave; and 6 weeks of paid family leave after a year of full-time employment.

National Life is accepting applications for this role on an ongoing basis and the role remains open until filled.   

National Life Group® is a trade name of National Life Insurance Company, Montpelier, VT – founded in 1848, Life Insurance Company of the Southwest, Addison, TX – chartered in 1955, and their affiliates. Each company of National Life Group is solely responsible for its own financial condition and contractual obligations. Life Insurance Company of the Southwest is not an authorized insurer in New York and does not conduct insurance business in New York. Equity Services, Inc., Member FINRA/SIPC, is a Broker/Dealer and Registered Investment Adviser affiliate of National Life Insurance Company. All other entities are independent of the companies of National Life Group.

National Life Group

1 National Life Dr

Montpelier, VT 05604

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