Actuary – Annuity Valuation

Role Summary: We are seeking an actuary to play a key role in the implementation of VM-22 Principle-Based Reserving for non-variable annuity products. This role provides actuarial expertise across the design, development, testing, governance, and operationalization of the company’s VM-22 valuation framework, with a focus on establishing a well-controlled, repeatable, and sustainable valuation capability. This position partners across Actuarial, Pricing, Investments, IT, and other stakeholders to translate VM-22 requirements into effective valuation processes. The role provides subject matter expertise across methodology and assumption development, model specifications, asset modeling, data requirements, testing, controls, documentation, and production readiness, and supports the successful transition of VM-22 from implementation into ongoing financial reporting. The ideal candidate brings significant actuarial experience, strong technical and analytical capabilities, and the ability to communicate complex actuarial concepts and implementation considerations to technical stakeholders and senior management. This position currently offers an onsite work schedule, with the expectation that you will be in the office four (4) days per week during onsite core days. Our current onsite core days are Monday, Tuesday, Wednesday, and Thursday. The work schedule type and core days are subject to change with advance notification and manager discretion.

Essential Duties And Responsibilities: Serve as a subject matter expert on VM-22, providing technical guidance on regulatory requirements, valuation methodology, modeling considerations, and implementation decisions. Lead the implementation of VM-22 across applicable annuity products and valuation processes. Develop and document VM-22 methodologies, assumptions, actuarial judgments, and implementation decisions. Provide actuarial expertise in asset modeling, including asset cash flows, reinvestment assumptions, asset-liability interactions, and investment strategy. Partner with stakeholders to define model requirements, support model development, and validate VM-22 calculations. Perform and review model testing, sensitivity analyses, benchmark comparisons, and reasonableness assessments. Partner with the valuation team to develop key actuarial assumptions through experience analysis and financial impact assessments. Partner with IT to implement scalable, controlled, and reliable processes for data validation, model inputs, valuation outputs, and production reporting. Analyze VM-22 reserve results, key drivers, and financial impacts, and communicate findings to actuarial leadership. Partner with Model Governance and Internal Audit on governance, controls, documentation, and review processes supporting audit, regulatory, and financial reporting requirements. Coordinate with Actuarial, Pricing, Investments, IT, and other stakeholders on implementation deliverables and dependencies. Lead the transition of VM-22 from implementation into a controlled, repeatable, and sustainable production valuation process. Lead initial production cycles and resolve issues identified following implementation. Identify opportunities to improve efficiency, automation, analytical capabilities, and control effectiveness following implementation. All other duties as assigned.

Minimum Qualifications: Bachelor’s degree in Actuarial Science, Mathematics, Statistics, Finance, or a related field. FSA professional designation or Career ASA.7+ years of actuarial experience, including 4+ years of relevant experience in annuity valuation, statutory reporting, actuarial modeling, or principle-based reserving. Experience developing, testing, or implementing actuarial valuation models. Strong analytical and problem-solving skills, including the ability to investigate complex model results and identify underlying drivers. Experience working with actuarial modeling, data, or analytical platforms. Strong technical documentation skills, including the ability to clearly document methodology, assumptions, controls, and actuarial judgment. Strong communication skills with the ability to present complex actuarial concepts and implementation decisions to technical and senior management audiences.

Core Competencies: Service Focus Demonstrates a client centric focus for satisfying one’s external and/or internal customers; establishes and maintains effective relationships with customers and gains their trust and respect. Decision Making Makes sense of complex information, critically evaluates, and creates solutions. Results Oriented Sets performance and personal goals; Driven to meet or exceed goals and objectives. Plans and Aligns Plans and prioritizes work to meet commitments aligned with organizational goals; Aligns people and skills to tasks and assignments; Evaluates results of work. Demonstrates Learning Agility Enhances skills and knowledge through continuous learning; Focuses on personal results by establishing stretch goals; Seeks feedback and changes accordingly. Establishes Relationships Builds partnerships with others to instill trust, collaborate, and meet shared objectives. Communicates Effectively Actively listens, conveys messages to meet different audience needs, and remains open to new ideas and opinions. Fosters Diversity Values diversity and difference in thought, experience, and perspective; Promotes an environment that embraces diversity, equity, and inclusion; Supports equal and fair treatment for all.

Benefits: Your benefits start day one and are flexible and customizable to your and your family’s specific needs. Check out the BENEFITS of a Career at National Life! Base Pay Range The base pay range for this position is the range National Life reasonably and in good faith expects to pay for the position taking into account the wide variety of factors, including: prior experience and job-related knowledge; education, training and certificates; current business needs; and market factors. The final salary or hourly wages offered may be outside of this range based on other reasons and individual circumstances. Additional Compensation and Benefits The total compensation package for this position may also include a full range of medical, financial, and/or other benefits (including 401(k) eligibility and various paid time off benefits, such as vacation, sick time, and parental leave), dependent on the position offered. The successful candidate may also be eligible to participate in National Life’s discretionary annual incentive programs, subject to the rules governing such programs. If hired, the employee will be in an "at-will position" and National Life reserves the right to modify base salary (as well as any other discretionary payment or compensation or benefit program) at any time, including for reasons related to individual performance, company or individual department/team performance, and market factors. National Life is accepting applications for this role on an ongoing basis and the role remains open until filled. Salary Pay Range $138,750 - $203,500 USDBase Pay Range The base pay range for this position is the range National Life reasonably and in good faith expects to pay for the position taking into account the wide variety of factors, including: prior experience and job-related knowledge; education, training and certificates; current business needs; and market factors. The final salary or hourly wages offered may be outside of this range based on other reasons and individual circumstances. Additional Compensation and Benefits The total compensation package for this position may also include a full range of medical, financial, and/or other benefits (including 401(k) eligibility and various paid time off benefits, such as vacation, sick time, and parental leave), dependent on the position offered. The successful candidate may also be eligible to participate in National Life’s discretionary annual incentive programs, subject to the rules governing such programs. If hired, the employee will be in an "at-will position" and National Life reserves the right to modify base salary (as well as any other discretionary payment or compensation or benefit program) at any time, including for reasons related to individual performance, company or individual department/team performance, and market factors. National Life is accepting applications for this role on an ongoing basis and the role remains open until filled. Hourly Pay Range $138,750 - $203,500 USDNational Life Group® is a trade name of National Life Insurance Company, Montpelier, VT – founded in 1848, Life Insurance Company of the Southwest, Addison, TX – chartered in 1955, and their affiliates. Each company of National Life Group is solely responsible for its own financial condition and contractual obligations. Life Insurance Company of the Southwest is not an authorized insurer in New York and does not conduct insurance business in New York. Equity Services, Inc., Member FINRA/SIPC, is a Broker/Dealer and Registered Investment Adviser affiliate of National Life Insurance Company. All other entities are independent of the companies of National Life Group. Fortune 1000 status is based on the consolidated financial results of all National Life Group companies. National Life Group1 National Life DrMontpelier, VT 05604