Actuary jobs in Maryland

Actuary conducts analysis, pricing and risk assessment to estimate financial outcomes. Applies knowledge of mathematics, probability, statistics, principles of finance and business to calculations in life, health, social, and casualty insurance, annuities, and pensions. Being an Actuary develops probability tables regarding fire, natural disasters, death, unemployment, etc. based on analysis of statistical data and other pertinent information. Typically requires a bachelor's degree. Additionally, Actuary typically reports to a supervisor or manager. The Actuary works on projects/matters of limited complexity in a support role. Work is closely managed. To be an Actuary typically requires 0-2 years of related experience. (Copyright 2024 Salary.com)

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Actuary, Valuation
  • Legal & General America
  • Frederick, MD OTHER
  • Overview

    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.

     

    You will be responsible for producing and analyzing protection business Cash Flow Testing (CFT) and Value of New Business (VNB) metrics for Banner Life, William Penn, and all associated captive reinsurance entities and affiliates.  As a subject matter expert in these areas on the Valuation department, you will work collaboratively with business partners across the organization to ensure these results are accurate and understood by all key stakeholders. 

    Responsibilities

    • Support the VP, Valuation and Appointed Actuary in the timely production of reporting for Value of New Business and Cash Flow Testing. This includes producing memos and other supporting documentation to explain results to a wide range of stakeholders.
    • Liaise directly with the model development and investment accounting team members to review actuarial models built to ensure they are fit for purpose. Proactively anticipate and propose necessary model changes to incorporate regulatory requirements or other business needs.
    • Ensure appropriate controls and validations have been performed for CFT and VNB results. Be able to understand the movements in these metrics, and be able to relate movements back to underlying changes.
    • Produce the necessary projections in a timely fashion for the Appointed Actuary to sign the Actuarial Opinion and Actuarial Memorandum and that all necessary back up and support for these sign offs is documented in a suitable manner. This includes drafting the Actuarial Memorandums.
    • Perform appropriate sensitivities on models as requested. 
    • Address questions and requests received from auditors and regulators regarding cash flow testing results and the analysis supporting results included within the Actuarial Memorandums.
    • Help to automate our reporting procedures and processes outside of the actuarial modeling software for optimal efficiency. Build and / or maintain adjustments or outside of model processes, as needed, until more robust solutions are developed by the model development team. 
    • Provide thought leadership on statutory analysis and projections, representing the Appointed Actuary views on cross-functional projects.
    • Maintain compliance with industry professional development guidelines. Participate in industry committees where necessary.
    • Promote company culture by demonstrating our core behavioral competencies: Collaborative, Purposeful, and Straightforward.
    • Other duties as required.

    Qualifications

    Education

    • BS/BA in Actuarial Science, Mathematics, Statistics, Economics, or related field
    • Fellow of the Society of Actuaries

    Experience/Knowledge

    • 8 years of life insurance / actuarial experience
    • Significant actuarial modeling / programming experience
    • Advanced knowledge of statutory reporting, cash flow testing / ALM, or similar
    • Experience with Term Life and Universal Life business
    • Experience with reinsurance modeling and analysis

    Skills

    • Excellent written and oral communication skills, including presentation skills
    • Actuarial software skills – Moody’s AXIS preferred
    • Proven ability to articulate complex solutions to nontechnical audiences
    • Proven ability to proactively identify and implement solutions to unique and complex problems
    • Ability to balance multiple projects in a deadline-oriented environment
    • Ability to adapt to shifting priorities
    • Strong actuarial analytical skills, attention to detail, and problem solving ability
    • Self-motivated

    What’s in it for you?

    The expected hiring compensation range for this position is $132,800 - $182,600 annually.

    This role will be working in a hybrid environment with up to 3 days in office per week.

     

    The total compensation package for this position may include other elements, such as a sign-on bonus, long term incentives, and annual bonuses.  This role is eligible to participate in the Legal & General America Annual Incentive Plan. The current target payment for the position is 20% of base salary, modified for corporate and individual performance. Bonuses are pro-rated based on start date.  This role has 20 vacation days and 10 sick days that are accrued on a bi-weekly basis. Employees also have 9 paid holidays throughout the calendar year.

     

    We have a competitive compensation and benefits package focused on your overall wellbeing.  Employee benefits include health, life, and dental insurance; 401K with company match up to 6% as well as a pension package; generous time off; and wellbeing initiatives throughout the year (we like doing fun stuff).  We’re big on professional development and we’ll support and mentor you in your career progression and expect you to help us pay it forward by helping us develop tomorrow's leaders and growth-focused professionals. We value our teams and our communities and believe in giving back. Enjoy time off to volunteer for those causes that matter most to you!

     

    If hired, employee will be in an “at-will position” and the Company reserves the right to modify base salary (as well as any other discretionary payment or compensation program) at any time, including for reasons related to individual performance, Company or individual department/team performance, and market factors. The Company reserves the right to change benefits plans at any time.

     

    We are an equal opportunity employer and value diversity at our company. We do not discriminate based on race, religion, color, national origin, sex, gender, gender expression, sexual orientation, age, marital status, veteran status, or disability status. We will ensure that individuals with disabilities are provided reasonable accommodation to participate in the job application or interview process, perform essential job functions, and receive other benefits and privileges of employment. Please contact us to request accommodation.

  • 22 Days Ago

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Associate Actuary
  • Highmark Health
  • MD, MD FULL_TIME
  • Description JOB SUMMARY This job is a senior level actuarial analyst position that initiates and leads the development of actuarial studies and analyses, making appropriate recommendations to actuaria...
  • 3 Days Ago

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US E-GPS Consulting - Health Actuary Consultant Profile Hire - HC/OT
  • Deloitte US
  • Bethesda, MD FULL_TIME
  • Are you interested in working in a dynamic environment that offers opportunities for professional growth and new responsibilities? Are you interested in helping clients drive alignment with their busi...
  • 1 Day Ago

D
US E-GPS Consulting - Health Actuary Consultant Profile Hire - HC/OT
  • Deloitte US
  • Baltimore, MD FULL_TIME
  • Are you interested in working in a dynamic environment that offers opportunities for professional growth and new responsibilities? Are you interested in helping clients drive alignment with their busi...
  • 2 Days Ago

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Actuary
  • Amtex Systems Inc.
  • Atlanta, GA
  • Role – Actuary – 3 Roles Location – ON site preferred, open to remote. Length 9 months Scope: Coordinates, prepares, and...
  • 3/28/2024 12:00:00 AM

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Actuarial Manager
  • Genworth
  • Raleigh, NC
  • At Enact Mortgage Insurance (Nasdaq: ACT), we understand that there’s no place like home. That’s why we bring our deep e...
  • 3/28/2024 12:00:00 AM

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Actuary
  • USAA
  • Colorado Springs, CO
  • Why USAA? Why USAA? Lets do something that really matters. At USAA, we have an important mission: facilitating the finan...
  • 3/28/2024 12:00:00 AM

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Actuary
  • Vaco
  • San Antonio, TX
  • Vaco has an invaluable opportunity for individuals with a passion for data science and interest in the insurance industr...
  • 3/27/2024 12:00:00 AM

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Actuary
  • USAA
  • Phoenix, AZ
  • Why USAA? Why USAA? Lets do something that really matters. At USAA, we have an important mission: facilitating the finan...
  • 3/26/2024 12:00:00 AM

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ACTUARY
  • PRI Technology
  • Whitehouse Station, NJ
  • Job Description Job Description ACTUARY My name is Bill Stevens and I have a new twelve month plus Actuary opportunity a...
  • 3/26/2024 12:00:00 AM

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Actuary
  • USAA
  • Tampa, FL
  • Why USAA? Why USAA? Lets do something that really matters. At USAA, we have an important mission: facilitating the finan...
  • 3/25/2024 12:00:00 AM

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Actuary
  • USAA
  • San Antonio, TX
  • Why USAA? Why USAA? Lets do something that really matters. At USAA, we have an important mission: facilitating the finan...
  • 3/25/2024 12:00:00 AM

Maryland (US: /ˈmɛrələnd/ (listen) MERR-əl-ənd) is a state in the Mid-Atlantic region of the United States, bordering Virginia, West Virginia, and the District of Columbia to its south and west; Pennsylvania to its north; and Delaware to its east. The state's largest city is Baltimore, and its capital is Annapolis. Among its occasional nicknames are Old Line State, the Free State, and the Chesapeake Bay State. It is named after the English queen Henrietta Maria, known in England as Queen Mary. Sixteen of Maryland's twenty-three counties border the tidal waters of the Chesapeake Bay estuary and...
Source: Wikipedia (as of 04/11/2019). Read more from Wikipedia
Income Estimation for Actuary jobs
$73,809 to $94,161

Actuary in Philadelphia, PA
An actuary can study the market, the risk it exposes their clients/firms to and try to strategize accordingly.
October 07, 2019
Actuary in Raleigh, NC
Reserving actuary does this by studying patterns from the past or expert opinion.
December 05, 2019
Actuary in Vincennes, IN
It provides a useful starting point for those considering a career as an actuary.
December 12, 2019