Legal & General America Assistant Actuary, Product Development in Frederick, Maryland
At Legal & General America, we aim to make a positive difference in the lives of our customers, partners, colleagues, and the communities in which they live. As a recognized market leader of term life insurance, we’re working to transform our business through innovation and technology to provide products and solutions that help American families secure their financial futures.
We are a future-focused company, passionate about what we do and how we do it. This means working with pace and energy to reach our goals, and challenging ourselves to achieve more. We strive to create a unique environment where balance between work and life is possible. Our employees' passion, dedication and hard work, as well as our career development opportunities, benefits, and employee activities contribute to our positive workplace culture.
Product Development, Design, and Pricing
Provide and actuarial expertise to a cross-functional team responsible for evaluating and prototyping new product, capital management, and underwriting ideas.
Lead pricing efforts on new and existing products while balancing competitiveness, profitability, and risk standards.
Analyze and document financial impacts of any new products or product changes and communicate results to key stakeholder
Regulatory and Product Implementation Support
Review, analyze the pricing impact of, and implement into the pricing models domestic and international regulatory capital and accounting regimes such as Solvency II, PBR, and IFRS-17.
Work with a cross-functional team to develop or revise, and file policy forms.
Provide actuarial support for product filings, including the authoring of actuarial memorandums and guidance as to potential pricing impacts of any changes to the policy language.
Collaborate with employees from across the organization to help bring products to market. Work may include development and review of marketing material, building and testing policy administration and sales illustration systems, and development of tools for use by other areas across the company.
Perform assumption review, analysis, and documentation for annual Illustration Actuary Testing for new and inforce products.
Actuarial Pricing Assumption Review and Development
Assist with the research, development, analysis, and proposal of assumptions for new product or product features, and prudent margins on experience based assumptions for existing products
Work with Data Science, Valuation, and Inforce Management teams to understand how emerging experience will impact new business pricing
Actuarial Model Development and Maintenance
Develop, utilize, and maintain actuarial models that comply with Legal & General’s Model Risk Control Framework.
Implement, review, and document model and assumption changes.
Ad hoc Projects and other duties as assigned
BS/BA Math/Statistics/Actuarial Science
5 or more years of experience
The ideal candidate will have strong critical thinking skills, be results oriented, and be driven to strive for continuous improvement.
The candidate must have the ability to communicate complex financial issues to both technical and non-technical audiences.
Significant experience with GGY Axis, MG-ALFA, or similar actuarial software is highly preferred
Excellent communication skills, written and oral.
Job Title (External Posting): Assistant Actuary, Product Development
Job ID: 2020-2403
External Company Name: Legal & General America
External Company URL: www.lgamerica.com
Street: 3275 Bennett Creek Ave