Senior Actuarial Associate - Life Product Development
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Think that working in the insurance field can’t be exciting, rewarding and challenging? Think again. You’ll help us reinvent protection and retirement to improve customers’ lives. We’ll help you make an impact with our training and mentoring offerings. Here, you’ll have the opportunity to expand and apply your skills in ways you never thought possible. And you’ll have fun doing it. Join a company of individuals with hopes, plans and passions, all using and developing our talents for good, at work and in life.
This position can be located out of our office in Northbrook, IL OR Lincoln, NE
Job Family Summary:
As part of the Allstate Corporation, Allstate Life and Retirement (ALR) serves to create value by improving the loyalty and retention of existing customers through cross-sell of ALR products, by bringing new customers to Allstate, and by accelerating ALR’s profit growth. ALR Product Development works closely with many areas of the company in developing new products that meet the needs of our customers. Key stakeholders include Allstate senior management, shareholders, field representatives, government agencies, and customers.
Allstate is looking for a Life Product Development Senior Actuarial Associate. This role supports all aspects of the product development process including actuarial projections, rate determination, state filing, actuarial memos, regulatory compliance, testing accuracy of technology output. Additional responsibilities will include assignments of leadership and/ or participation in other financial actuarial topics including actuarial projection software platform transition and upcoming regulatory changes impacting life product development.
- Assist with rate determination for new life insurance products
- Maintain, run, and analyze actuarial projection models
- Assist with state filing of contracts including contract development, regulatory compliance, and actuarial memos
- Assist with development, review, and testing of technology requirements for new products
- Prepare and/or review product development documentation
- Collaborate and be an engaged contributor on cross functional product development projects
- Ensure appropriate model controls and utilize appropriate peer review and functional review of model data; adhere to established governance processes and guidelines
- Support recurring reporting of profitability metrics to senior management
- Support annual financial plan processes including updating actuarial projections and analysis of output
- Support effort for product changes related to implementation of the 2017 CSO and Principles Based Reserves
- Support effort related to actuarial software platform transition
- Pursuing actuarial designation and has completed at least two actuarial exams, 3 or more preferred.
- Bachelor’s degree in actuarial science or related field
- 3-5 years of relevant experience
- Solid interpersonal skills in order to work well in a team environment
- Strong written and communication skills
- Advanced quantitative and analytical skills, with strong detail orientation
- Advanced knowledge of financial analysis
- Strong Microsoft application skills (Excel, Access, PowerPoint)
- Proven organizational and project management skills, including excellent time management and the ability to handle multiple concurrent assignments
The candidate(s) offered this position will be required to submit to a background investigation, which includes a drug screen.
Good Work. Good Life. Good Hands®.
As a Fortune 100 company and industry leader, we provide a competitive salary – but that’s just the beginning. Our Total Rewards package also offers benefits like tuition assistance, medical and dental insurance, as well as a robust pension and 401(k). Plus, you’ll have access to a wide variety of programs to help you balance your work and personal life — including a generous paid time off policy.
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Allstate generally does not sponsor individuals for employment-based visas for this position.
Effective July 1, 2014, under Indiana House Enrolled Act (HEA) 1242, it is against public policy of the State of Indiana and a discriminatory practice for an employer to discriminate against a prospective employee on the basis of status as a veteran by refusing to employ an applicant on the basis that they are a veteran of the armed forces of the United States, a member of the Indiana National Guard or a member of a reserve component.
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It is the policy of Allstate to employ the best qualified individuals available for all jobs without regard to race, color, religion, sex, age, national origin, sexual orientation, gender identity/gender expression, disability, and citizenship status as a veteran with a disability or veteran of the Vietnam Era.
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