Western & Southern Financial Group

Associate Actuary

Western & Southern Financial Group • $70K — $95K *
Cincinnati, OH 45238In-Person
Finance & Insurance
Less than 5 years of experience
Today
Be an Early Applicant
Job Overview by Ladders

Qualifications

  • Bachelor's Degree in mathematics or related field (Required)
  • Proven mastery of responsibilities of the Assistant Actuary position
  • Demonstrated problem-solving skills and effective time management
  • Ability to work under multiple deadlines with minimal supervision
  • Expert in spreadsheet, database, and mainframe applications
  • Proficient in actuarial software (ARCVAL, ARCBase, MG-ALFA)
  • Member of the American Academy of Actuaries (MAAA) upon hire
  • Associate of the Society of Actuaries (ASA) upon hire
  • Actively pursuing FSA or other designations upon hire

Responsibilities

  • Develop actuarial and mathematical models, determining assumptions and communicating outcomes.
  • Support other departments in understanding technical concepts and enhancing operational efficiency.
  • Understand the goals of various departments, including Insurance Operations and Compliance.
  • Propose creative solutions to balance accuracy and deadlines in modeling.
  • Build rapport with departments to identify mutually acceptable solutions to problems.
  • Design reports for product development and various reporting requirements.
  • Prepare actuarial memorandums for filings and address inquiries from state departments.

Benefits

  • Comprehensive health insurance coverage
  • Retirement savings plans
  • Paid time off and holidays
  • Professional development opportunities
  • Flexible working conditions
Full Job Description
Overview

Develops actuarial and mathematical modeling tools, information and analysis needed to assess risk and profitability of Company products in-force or under development. Analyzes and develops formulas using higher-level mathematics to reproduce and project Company experience in the model. Works with minimal supervision and is responsible for making an established range of decisions, escalating to AVP when necessary and updating AVP on a regular basis.

Responsibilities

What you will do:
  • Develops actuarial and mathematical models, and determines assumptions to be used within models and communicates the results obtained from the models.
  • Supports other departments in understanding technical concepts and improving their operational efficiency.
  • Knows and understands the goals and perspectives of Insurance Operations, Information Technology, Filing and Compliance, Corporate Accounting and Planning, senior management, industry rating agencies and the various state insurance departments.
  • Knows and understands Western & Southern Financial Group (W&SFG) products, markets and marketing strategies. Understands each business unit's goals and perspectives.
  • Understands core actuarial and accounting principles such as STAT and GAAP valuation concepts, DAC amortization and RBC.
  • Proposes creative compromises to conflicting goals of accuracy, precision and deadlines.
  • Develops rapport and trust with various departments in the Company to determine mutually acceptable solutions to problems.
  • Develops and provides actuarial and mathematical modeling tools, information and analysis to assess profitability and risk of products in-force or under development, asset/liability management, contract holder behavior, expenses, reserves, taxes and other risk analysis.
  • Provides solutions to problems encountered in implementing products and financial reporting systems.
  • Designs reports to obtain data for product development, cash-flow testing, financial reporting, forecasting, valuation and other reporting requirements.
  • Assists with product design.
  • Prepares a list of criteria to test administrative and illustration systems.
  • Writes actuarial memorandums and certifications required for filing new products, valuation and reserve adequacy, and answers questions from state insurance departments.
  • Acquires an in-depth understanding about the topic to which a particular project relates, in order to apply appropriate methods and analysis to this and future projects, while meeting the current project deadline.
  • Documents projects in writing in accordance with established guidelines.
  • Complies with standards declared by the Actuarial Standards Board and other applicable bodies (SEC, Accounting Standards Board, etc.) as well as the requirements of state and federal regulation.
  • Performs other duties as assigned
  • Complies with all policies and standards


Qualifications

  • Bachelor's Degree In mathematics or related field. (Required)
  • Proven mastery of responsibilities and competencies of the Assistant Actuary position.
  • Demonstrated creativity, judgment, decisiveness, problem-solving skills and time management skills. Proven examples from work experience on identifying complex problems, quantifying the problem and providing creative resolutions to solve.
  • Proven examples of working under multiple deadlines with minimal supervision. Must cite examples of successfully organizing and effectively completing projects where given little or no direction.
  • Expert in spreadsheet, database and mainframe applications.
  • Proficient in word processing.
  • Proficient in actuarial software packages such as those used for valuation (ARCVAL), experience studies (ARCBase), and pricing and projections (MG-ALFA).
  • Member of the American Academy of Actuaries (MAAA). Upon Hire (Required)
  • Associate of the Society of Actuaries (ASA) Upon Hire (Required)
  • Actively pursuing FSA or other insurance industry designation (FLMI, CLU, etc.). Upon Hire (Required)

Work Setting/Position Demands:
  • Works in an office setting and remains in a stationary position for long periods of time while working at a desk, on a computer or with other standard office equipment, or while in meetings.
  • Requires the ability to verbally communicate and exchange accurate information to customers and associates on a regular basis.
  • Requires visual acuity to read and interpret a variety of correspondence, procedures, reports and forms via paper and electronic documents, visual inspection involving small defects; small parts, and/or operation of machinery (including inspection); using measurement devices continuously. Visual acuity is required to determine accuracy, neatness, and thoroughness of work assigned.
  • Requires the ability to prepare written correspondence, reports and forms using prescribed formats and conforming to rules of punctuation, grammar, diction, and style on a regular basis.
  • Requires the ability to apply principles of logical thinking to define problems, collect data, establish facts, and draw valid conclusions
  • Performs substantial movement of wrists, hands, and fingers for continuous computer work.
  • Extended hours required during peak workloads or special projects/events.

Travel Requirements:
  • None

About Western & Southern Financial Group

Western & Southern Financial Group provides financial translators, helping to turn the complex into simple, practical financial solutions. work face-to-face with middle-market clients to help understand their needs and provide financial solutions designed to meet their goals.

Western & Southern Financial Group Careers

Join the vibrant team at Western & Southern Financial Group, a leader in the financial services industry known for its strong commitment to fostering professional growth and innovation. As part of our team, you will engage in meaningful work that directly contributes to our reputation as one of the most respected names in financial solutions.

Work You’ll Do

At Western & Southern Financial Group, you will find job opportunities that challenge and motivate you to leverage your skills and potential. Whether you are looking for a position in financial advising, customer service, or IT, our company offers a dynamic environment where career growth is supported and encouraged.

Innovate and Lead

Embrace the chance to work on projects that redefine industry standards while collaborating with a team of over 10,000 dedicated professionals. Our leadership is committed to nurturing a culture of innovation and diversity, ensuring that every team member has the opportunity to excel.

Professional Development

Western & Southern Financial Group is not just a company; it's a place where careers are built. Our employees enjoy access to comprehensive benefits and diversity training programs that promote professional development and personal well-being. From leadership workshops to networking events, we provide the tools necessary for you to advance your career.

Internship Programs

Kickstart your career with Western & Southern’s internship programs. These opportunities allow you to gain hands-on experience, build your resume, and understand the financial sector from the inside out. Interns work closely with experienced professionals, gaining insights that are crucial for future employment.

Join Our Team

Explore the array of job opportunities at Western & Southern Financial Group. We are continuously hiring and looking for individuals who bring creativity, innovation, and a strong work ethic to our team. With a focus on leadership development and employee satisfaction, we are dedicated to helping you achieve your career goals.

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Apply Now

Ready to take the next step in your career? Search open positions that match your skills and interests. We look for passionate, curious, and solution-driven team players who are ready to make a difference.

SEARCH WESTERN & SOUTHERN FINANCIAL GROUP JOBS

At Western & Southern Financial Group, we believe in empowering our employees to grow, innovate, and lead in every aspect of their career. Join us and be part of a team that values diversity, leadership, and the professional growth of its members. Discover the impact you can make in the financial services industry with Western & Southern.
Learn more about Western & Southern Financial Group
Size
4,700 employees
Industry
Finance & Insurance
* Ladders Estimates

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