Actuarial Analyst - Pension Risk Transfer
UW - Underwriting
Estimated Travel Percentage (%): No Travel
Relocation Provided: No
American General Life Insurance Company
The Institutional Markets Pensions team is one of the top 5 writers of pension risk transfer transactions in the US. As we continue to grow, we are looking to hire a professional with an actuarial and/or pensions background. The successful candidate will support the development of new business, engage with consultants/brokers to fulfill pension plan sponsors' objectives, collaborate with actuarial and legal teams, and support the timely and efficient onboarding of new business. Responsibilities include managing and executing the transactions in a timely and professional manner, interpreting pension provisions, evaluating actuarial adjustments and risks, developing calculation models, and participating in R&D projects.
• Under the supervision of senior team members, evaluate Pension Risk Transfer transactions, by thinking creatively, while exercising sound judgment and discretion in keeping with AIG guidelines and philosophy.
• Manage the development of proposals and assist in communications to consultants / brokers in order to win new business.
• Support onboarding of new business and perform actuarial calculations.
• Develop, maintain and modify methodology and procedures used to calculate and administer pension benefits using mathematical and programming skills. Build calculation models with controls to mitigate risks and review model outputs, or model testing results.
• Support the development of contracts, certificates, and various agreements in partnership with the legal team.
• Provide accurate and sufficient information and data to actuarial partners and administrative operations to calculate profitability, administer benefit payments, and perform valuation and financial statement reporting.
• Support internal development, improvements and other special projects through research and analysis. Present ideas and recommendations to improve processes and proactively participate in innovations.
The Ideal Candidate Will Have:
• 2-6 years of working experience.
• Experience with defined benefit pension plans in an insurance company, a pension consulting firm, or a pension administration environment a plus.
• Underwriting, pricing, product development, valuation/financial reporting, benefit administration, or mortality study experience a plus.
• Demonstrated broad financial acumen including knowledge of financial analysis and actuarial principles a plus.
• Competence in using Microsoft Office programs; familiarity with VBA coding a plus.
• Ability to work and thrive in a team environment, possess excellent interpersonal, written and oral communication skills and having a comfort with presenting complex materials in a clear, focused, and concise manner.
• Bachelors degree in Actuarial Science, Statistics, Mathematics, Finance, or related field.
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