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Actuarial Student- Corporate Actuarial Modeling

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Date: May 23, 2019

Location: West Des Moines, IA, US, 50266

Company: Sammons Financial Group

***ALSO AVAILABLE IN SIOUX FALLS, SD, CHICAGO, IL or FARGO, ND***

This position may be filled at a higher level

 

Sammons® Financial Group’s (SFG) member companies offer some of today’s most sought after life insurance, annuity, and retirement planning products. Unlike most financial organizations, our companies are not publicly traded, which means we’re focused on long-term value rather than short-term earnings pressures. As a privately held company, our leaders and employees remain consistently focused on long-term growth, making decisions that allow us to deliver on our commitments to customers, distribution partners, our employees, and our communities. Individually, our companies provide value in the products and services they offer. Together we represent a history of strength and longevity. 

 

Here is what you can expect when you join SFG:

  • A Casual dress code which includes jeans. 
  • A rich company culture driven by private ownership and intentional leadership that inspires employees to engage in our healthy, high-performing and values based culture.
  • Healthy balance between work and personal lives.  Friday afternoons off all year long, competitive PTO and generous number of paid holidays. 
  • Great benefits including medical, dental, vision, wellness plan, charitable giving programs, education assistance… to name a few!
  • ESOP- A generous 100% company funded retirement plan. 

 

Here's what you can expect as an Actuarial Student

You will accurately and efficiently perform the technical actuarial tasks related to this role. This may include assisting with modeling, data analytics, product development and/or financial reporting for Sammons Financial Group (SFG) Member Companies’ products

  1. Develop basic working knowledge of SFG products related to area of focus. Understand customer value propositions.
  2. Understand the basic types of insurance contracts and actuarial related regulations, basic product features and policy transactions. Apply understanding of product designs and cash flows in actuarial processes and functions. Assist in preparing materials required to comply with applicable regulations.
  3. Develop basic knowledge of assumptions required for actuarial calculations and modeling and assist in applying them.  Understand the rationale for making simple assumptions and judgments based on internal available data. Document assumptions made to support your work and the sources of the assumptions.
  4. Develop basic knowledge of actuarial modeling and/or valuation software, i.e. (what the key elements are, what they can be used for and their potential shortcomings.) Apply knowledge to assist in coding and running the models for a variety of purposes. Input and check the data and parameters as well as document the model inputs and model results for review by others.
  5. Develop basic knowledge of accounting standards and other reporting requirements covering insurance liabilities and the assets backing liabilities. Assist in analyzing basic financial reporting as needed, including balance sheets and income statements produced by actuarial models. Understand and report on pre-defined profit measures for review by others.
  6. Use spreadsheet, database and other data analytic software to perform data analysis and summarize aggregated data. Present aggregated data verbally, numerically, graphically or in another written format to highlight key features.  Perform checks to confirm the robustness of the data and analysis.
  7. Understand basic concepts of relevant actuarial risks and the implications of failing to manage risk. Assist in the quantification of risk exposure and use model projections to produce management information to measure and to monitor on-going exposure.
  8. Assist with special projects as required. Work individually and/or in teams to complete projects on time and with high quality. Effectively plan and prioritize your own work in accordance with broader team or department objectives and priorities.
  9. Develop relationships with other departments and business units. As needed, perform actuarial calculations to support administration or test IT functionality.
  10. Participate in the Society of Actuaries’ examination program with a satisfactory pass record per SFG's actuarial study program guidelines

 

QUALIFICATIONS

  • Must have a Bachelor’s degree, preferably in the area of Actuarial Science, Mathematics, Statistics or a business-related field
  • Must have passed a minimum of one (1) actuarial exam and must continue to pursue an actuarial designation in the Society of Actuaries' examination program
  • Must have strong technical skills in VBA and SQL
  • Exposure to Actuarial software like MG-ALFA preferred
  • Internship experience preferred, ideally in the field of Actuarial Science
  • Possess a high level of mathematical ability, strong analytical skills and pay attention to detail
  • Possess strong computer skills, including spreadsheets, databases and word processing
  • Possess strong written and verbal communication skills
  • Highly motivated to develop a strong knowledge base of the insurance industry and an ability to learn about SFG member company products, procedures, and operations
  • Ability to research problems or questions and provide responses to the requestor
  • Ability to work both individually and as part of a team
  • Highly organized with the ability to work on multiple projects
  • Ability to work effectively in an office environment
  • Commitment to embrace SFG shared values (Respect, Accountability, Integrity, and Openness)
  • Criminal background check is required

 

***ALSO AVAILABLE IN SIOUX FALLS, SD, CHICAGO, IL or FARGO, ND***

This position may be filled at a higher level


Nearest Major Market: Des Moines

Job Segment: Accounting, Finance