Assistant Actuary - Corporate Actuarial Modeling

Midland National Life Insurance   •  

West Des Moines, IA

Industry: Managed Care & Health Insurance


5 - 7 years

Posted 344 days ago


Critically evaluate and provide technical guidance in the process of building and maintaining actuarial projection software master models under the Model Governance process. Partner closely with other departments.

  1. Follow and be an active participant in the Model Governance process that prioritizes, defines, and documents model updates, ensures all changes are accurate and timely, documents the impact of the changes, and provides an audit trail of changes made. Support timelines for model releases; assist in establishing intermediate steps and deadlines for project planning purposes.
  2. Implement changes to master models for new products, product features, actuarial assumptions, improvements, and corrections; identify and make enhancements to models for efficiency; work with fixed, indexed and variable universal life insurance, term life insurance, whole life insurance, immediate annuities, and fixed, indexed and variable deferred annuities.
  3. Translate business requirements into technical specifications and deliver solutions, such as actuarial code, to support those requirements.
  4. Test and validate model changes and output produced by the actuarial modeling software for reasonableness and accuracy. Develop and maintain replication tools used for validation.
  5. Provide technical guidance in building, validating, managing and maintaining output tools, such as standard reports and database solutions for data storage; work with databasetechnology
  6. Prepare documentation of model changes and explain their impact to the model and results.
  7. Provide guidance on other Corporate Actuarial modeling projects as needed.
  8. Develop relationships with other departments, including Information Technology, Product Development and Corporate Accounting. Develop relationships with others outside the company, including outside vendors that provide software/hardware services.
  9. Help train and guide work for team members; act as a resource to other members of the Corporate Actuarial Modeling team. Active participation as representative of Corporate Actuarial Modeling during relevant project meetings.
  10. Enhance and develop personal and professional skills through the Society of Actuaries' Continuing Education requirement. 
  11. As stated within the Company Attendance and Punctuality policy, regular attendance is required and expected in order to meet the business service levels and workflow demands.



  • Must have a Bachelor's degree, preferably in the area of mathematics, or a business related field.
  • FSA preferred. Will consider near-FSA actively pursuing completion of FSA or career ASA.
  • Must have a minimum of six (6) years experience in the field of Actuarial Science
  • Demonstrate a superior level of mathematical ability and attention to detail and strong analytical skills.
  • Demonstrate strong computer skills including proficiency in the use of applicable technical tools.
  • Extensive experience with actuarial modeling software, preferably MG-ALFA
  • Prior experience with SQL and Visual Basic is desired
  • Demonstrate strong written and verbal communication skills including the ability to present highly technical information to non technical audiences
  • Ability to apply insurance industry knowledge, preferably in the fields of individual life and annuities.
  • Ability to identify and direct the analysis of problems or questions and provide recommendations to appropriate audiences.
  • Ability to work both individually and as part of a team.
  • Highly organized with the demonstrated ability to prioritize multiple projects and to switch priorities as necessary
  • Ability to work effectively in an office environment.
  • Prior experience in a controlled Model Governance environment a plus