Pension Actuary, Consultant, Administrator, or Underwriter
UW - Underwriting
Estimated Travel Percentage (%): No Travel
Relocation Provided: No
American General Life Insurance Company
The Institutional Markets - Pension team is one of the top writers of pension risk transfer transactions in the US. As our business continues to grow, the underwriting team is looking to hire a professional with actuarial or pension trainings. Depending on the candidate's background, the successful candidate will underwrite, assess pension risks, perform actuarial calculations, and write proposals to bring in new business; lead onboarding of new business collaboratively with clients and their consultants/advisors and also across internal functions; manage defined benefit pension plan's benefit calculations, modeling, and testing; and/or support various inforce governance and pension projects.
- Collaborate with Sales/Marketing to communicate technical actuarial and/or pension topics to institutional clients or clients' consultants/advisors
- Be viewed as the defined benefit pension plan expert within the company
- Assess pension risks, calculate premiums, and negotiate contract terms
- Guide institutional clients through onboarding and lead cross function collaboration
- Implement governance, controls, process, and procedures
- Review actuarial calculations and actuarial methodology in a controlled environment
- Execute model risk management framework including model development and testing
- Apply technical expertise to support Operations and Valuation teams and ensure successful implementation of new business leading to accurate and reliable financial reporting
- Think creatively and exercise sound judgment in leading projects
The Ideal Candidate Will Have:
- Defined benefit pension plan experience
- Ability to interpret and implement complex pension plan provisions
- At least one of Pricing, Valuation, Actuarial Modeling, or Pension Administration experience
- Pension benefit calculation modeling, testing, or production experience
- Project management experience
- Self-Starter who is comfortable dealing with both complexity and ambiguity, with ability to explore multiple solutions to a problem
- Awareness of governance best practice and controls required
- Competence in using Microsoft Office programs; familiarity with VBA coding a plus.
- Ability to work and thrive in a dynamic 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 to diverse audience.
- Bachelors degree in Actuarial Science, Mathematics, Statistics, or related field.
- Pursue one of the Society of Actuaries, the Enrolled Actuaries, or the American Society of Pension Professionals & Actuaries certification
The job grade and title will vary based on applicant's qualifications and years of relevant work experience.
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.