Summary:
Provide professional actuarial advice/services critical to development, implementation and maintenance of the Company's insurance, disability, annuity, and long-term care products. The Actuarial Department develops appropriate premiums, dividends, reserves, and surplus requirements by analyzing mortality, morbidity, persistency, investment and expense experience, striving to maintain equity and consistency among all policy owner underwriting classes, while safeguarding the Company's long term financial strength. Perform/supervise actuarial work required to advise on matters related to product pricing, dividend setting, reserve levels, mortality/morbidity issues, and field compensation. Additionally, strive to keep current on actuarial techniques, and on laws and regulations pertinent to your area of expertise; provide guidance to others within your assigned field of expertise.
Primary Duties and Responsibilities:
The following areas are examples of teams that could have roles available for the right candidate. While each role has its own various duties and responsibilities, each would provide opportunities for candidates to stretch into new areas and fields of expertise based on interests and long-term development objectives.
Life Insurance Pricing: Uphold Northwestern Mutual's industry-leading life insurance product line. This role includes new product design and pricing, implementation of evolving regulations, and management of inforce policies, all while ensuring equity across all life insurance policyowners.
Long-Term Care Insurance Pricing: Implement and maintain products that offer a long-term care insurance benefit. This role works with innovations in the long-term care product suite, including death benefit acceleration riders and our new life/long-term care hybrid insurance product, Long-Term Advantage.
Valuation: Perform Principle Based Reserve (PBR) calculations, analysis, and reporting. Investigate assumptions used; work with model development team to implement regulatory changes in modeled reserves; present results to senior management. As new products fall under a principle based framework, work with team to develop new process and calculations.
Modeling: Design enhancements or new features for Northwestern Mutual's in-house models used for pricing, cashflow testing, reserving, and corporate projections while working closely with model users. This role offers candidates a variety of experiences with our product suite and company financials and a high degree of flexibility to direct which projects best suit their interests.
Qualifications:
Attainment of Fellow of the Society of Actuaries (FSA) designation. A minimum of five years proven actuarial experience. Strong communication skills. A high degree of expertise in one or more areas of Department activities.#LI-Hybrid
Compensation Range:
Pay Range - Start:$130,800.00 Pay Range - End:$196,200.00 Geographic Specific Pay Structure: Structure 110:Structure 115:We believe in fairness and transparency. It's why we share the salary range for most of our roles. However, final salaries are based on a number of factors, including the skills and experience of the candidate; the current market; location of the candidate; and other factors uncovered in the hiring process. The standard pay structure is listed but if you're living in California, New York City or other eligible location, geographic specific pay structures, compensation and benefits could be applicable, clickhere to learn more. Grow your career with a best-in-class company that puts our clients' interests at the center of all we do. Get started now! Northwestern Mutual is an equal opportunity employer who welcomes and encourages diversity in the workforce. We are committed to creating and maintaining an environment in which each employee can contribute creative ideas, seek challenges, assume leadership and continue to focus on meeting and exceeding business and personal objectives.
Summary
Location: Milwaukee, WI Corporate
Type: Full time
