Assistant Actuary - PRT Pricing
AC - Actuarial
Estimated Travel Percentage (%): No Travel
Relocation Provided: No
American General Life Insurance Company
The Assistant Actuary will be a member of a team providing actuarial support for the Institutional Markets line of business. The primary focus will be on the pricing of domestic and international pension risk transfer deals: buy-outs, buy-ins, reinsurance, and longevity products. As a member of the pricing team, responsibilities will include interfacing with business unit management and other functional areas such as underwriting, valuation, policy administration, ERM, and the sales team. The actuary will also support the development of new international markets, experience analysis of jumbo deals, and current product maintenance as needed, and also maintain department documentation of products and processes.
Support pricing projects, including deriving assumptions, scenario analysis, producing high quality pricing memorandum and other documentation as applicable, within required timeframe. Success necessitates the opportunity for significant interaction with business management and other functional areas throughout the company to complete pricing projects.
Support other actuarial product management/maintenance initiatives as required. This includes providing input to the post-bid process, monitoring the competitive and regulatory landscape, and identifying risks and opportunities in the product portfolio and collaborating on corresponding solutions.
Maintain and continue to enhance the pricing model, the pricing process, and department documentation. This entails monitoring company and industry experience and the economic environment, recommending, documenting, and implementing pricing updates and modeling improvements.
• near ASA or ASA.
• At least 3-5 years of actuarial experience. Prior experience in deriving assumptions for pricing pension risk transfer deals, pension consulting or valuation, or pricing similar insurance products (e.g. fixed annuities or payout annuities) is a ‘plus'.
• Experience with Prophet modeling software is a ‘plus'.
• Excellent verbal and written communication skills required and the ability to work independently and within a team are required.
• Detail oriented, including attention to documentation.
• Preference for Houston, TX.
It has been and will continue to be the policy of American International Group, Inc., its subsidiaries and affiliates to be an Equal Opportunity Employer. We provide equal opportunity to all qualified individuals regardless of race, color, religion, age, gender, gender expression, national origin, veteran status, disability or any other legally protected categories.
At AIG, we believe that diversity and inclusion are critical to our future and our mission - creating a foundation for a creative workplace that leads to innovation, growth, and profitability. Through a wide variety of programs and initiatives, we invest in each employee, seeking to ensure that our people are not only respected as individuals, but also truly valued for their unique perspectives.