The Actuarial Associate provides consulting services to life, health, and annuity insurance companies that use PolySystems software primarily for financial reporting and forecasting. This position can be remote. The Team Lead is located in Chicago.
Essential Duties and Responsibilities:
- Based on client requests, set up new product features in PolySystems software and provide sample calculations and documentation.
- Make the required table coding and process changes for clients for new regulatory requirements, i.e., LDTI, VM-20, in PolySystems software.
- Implement software modifications and enhancements and provide regression testing.
- Develop and deliver client solutions using existing PolySystems software functionality. Delivery to the client includes a sample actuarial model with new software, sample calculations in Excel, and a memo describing the solution.
- Build client relationships and develop project proposals.
- May develop project plans and manage PolySystems projects.
- Document software change requests, create test data, and communicate software changes to the Development Team. Write and review user documentation.
- Collaborate with PolySystems’ Development Team on projects and software specifications. Participate in priority meetings and communicate status reports.
- Create presentations to be used with prospective clients and at industry events.
- Bachelor’s degree in actuarial science or relevant mathematical field.
- Experience with PolySystems software is preferred.
- Expertise in valuation according to US GAAP and US statutory valuation standards.
- 5 years’ actuarial experience.
- Knowledge of current and legacy products in at least two lines of business such as traditional life, UL, indexed annuities, fixed interest deferred annuities, in payment annuities, LTC, and other individual health insurance.
- Ability to work independently and on a team.
- ASA required.
- Ability to prioritize and handle multiple tasks in a demanding work environment.
- Strong critical thinking and analytical problem-solving skills.
PolySystems offers a medical/dental insurance plan (including an HSA with employer contributions), a Flexible Spending Account, a 401k with employer match, Long Term Disability, a generous personal day policy, and work/life balance.