Assistant Actuary, Pricing

Employer
Legal & General America
Location
Frederick, MD
Posted
Apr 14, 2017
Closes
Apr 28, 2017
Function
Accountant, IT
Hours
Full Time
Career minded? Goal oriented? Searching for a position that rewards hard work and experience? Legal & General America is always looking for talented people who want to make Every Day Matter. We strive to attract, develop, retain and motivate people, those who care and who work together as partners across business units and functions. It takes the efforts of smart, capable people to help us build strong agency relationships and provide the high-touch service our customers deserve. We care about our work and our relationships with coworkers, with people in the brokerage agencies that sell our life insurance and with customers our products protect. We believe everyone on our team is important and deserves respect for who they are and how they contribute to our success. We offer the perfect blend of career advancement, compensation and recognition for a job well done. Legal & General America is a nationally recognized market leader in the individual life insurance industry. It is our goal to provide financial protection for American families from coast to coast. Banner Life Insurance Company, located in Maryland and its subsidiary William Penn Life Insurance Company of New York, make up the Legal & General America companies. Our parent company is Legal & General Group Plc., an international insurance organization which shares our mission of protecting financial interests. Purpose and ObjectiveResponsible for providing actuarial analysis of new products and changes to existing products. Support product implementation and inforce testing. Essential Responsibilities Research new product ideas, competitors' products and pricesReview and summarize key features or differences for competitor productsSet up and run pricing model or spreadsheet to evaluate product or price changeSummarize financial impact of any new products or product changesWrite product specifications for new product and/or price changeDocument final pricing results Participate in the innovation and development of new products. Research assumptions.Develop financial modelsAnalyze resultsRecommend actions based on analysis and research. Researches, develops, maintains, and reviews actuarial models and methods. Assist with illustration actuary and self-support requirementsReview mortality, lapse, and expense parameters and compare to actual resultsSet up and run projection model using latest new and in force businessRun sensitivity tests of changes to key assumptionsReconcile results to prior year results or pricing model resultsCreate report documenting assumptions and all results Verification of value of new business calculationsSet up and run projection model based on actual new business soldReconcile differences between pricing model and EEV modelSummarize resultsUpdate populations utilized for pricing analysis at quarterly intervals Perform analysis of changes to actuarial assumptionsSet up and run projection modelsReconcile differences from results under previous assumptionsSummarize results Provide support to marketing and administrative areas as required Other duties as assignedBS/BA Math/StatisticsAssociate of the Society of Actuaries designation (Near FSA or new FSA is preferred)5 years insurance/actuarial experience (Pricing experience in life and/or annuity products is preferred)Database/spreadsheet capabilities (Excel, SQL) including programming ability