Actuary

Summary

Join Protective Life as an Actuary to lead product development and pricing for the Executive Benefits product suite. You will be responsible for product development, actuarial modeling, and pricing, collaborating with various stakeholders. This role requires extensive experience in life insurance and actuarial science, including expertise in product pricing and financial projections. The position offers a competitive salary and a comprehensive benefits package, including health insurance, retirement plans, paid time off, and additional incentive opportunities. You will work in a collaborative team environment and contribute to a company that impacts millions of lives.

Requirements

• 10+ years industry experience
• 5+ years life insurance experience
• FSA, MAAA
• Life product pricing experience
• Accountable for results
• Excellent communication skills

Responsibilities

• Support Executive Benefits business planning, explore new opportunities for the franchise and lead product research and development for new product initiatives
• Lead engagement with non-actuarial product stakeholders to ensure that product effectively reaches the target market (e.g., secure agreement on quote parameters and assumptions, incorporate sales feedback, support risk requirements)
• Collaborate effectively with all actuarial stakeholders on pricing (e.g., secure assumption approvals, align with existing internal methodologies, secure reinsurance coverage as needed, coordinate risk analysis and review)
• Review and deliver financial projections and interact with FP&A partners to ensure product profitability and feasibility
• Develop relationships and routine communications with Shared Service partners to assure actual experience aligns with pricing (investment yield, asset / liability duration mismatch, capital expectations)
• Develop team subject matter expertise for internal and external queries on products, pricing, and administration systems
• Support team in preparing ad-hoc experience studies, which could include emerging mortality and lapse experience
• Cooperate with stakeholders on management of inforce business, including rate resets and other nonguaranteed element determinations
• Own and deliver Product team’s routine regulatory commitments including Illustration Reg Testing and Certifications, NY S4228 and NY Reg 210 requirements and certifications
• Build the team’s industry and institutional knowledge through ongoing engagement with and mentoring of more junior team members

Preferred Qualifications

• Experience with Stable Value Wraps
• Experience interfacing with sales/new business staff for custom quotes, product training, and product feedback

Benefits

• Health, dental and vision insurance
• Mental health benefits and an employee assistance program
• Paid time off, paid parental leave, short-term disability, and a cultural observance day
• Contributions to healthcare accounts, a pension plan, and a 401(k) plan with Company matching
• ProHealth Rewards, Protective’s platform to improve wellbeing while earning cash rewards
• Annual incentive based on individual and Company performance
• Cash compensation as part of a sales incentive plan (SIP)