Actuarial Associate I/II

At The Standard, you’ll join a team focused on putting our customers first.

Our continued success is driven by a high-performance culture. We’re looking for people who are collaborative, accountable, creative, agile and are driven by a passion for doing what’s right – across the company and in our local communities.

We offer a caring culture where you can make a real difference, every day.
 
Ready to reach your highest potential? Let’s work together.

The Standard seeks a talented Student Actuary to join our rotational program. You will be joining a team in Corporate Actuarial and Risk Management which will give you exposure to a wide variety of business units and processes. As part of the rotation program, you will have the opportunity to learn many new skills and to work with multiple teams as you take your exams and continue your journey to being a credentialed Actuary.

Job Summary: 

Acceptance to a position in this job family constitutes participation in the Actuarial Student Program at The Standard.  The mission of the Actuarial Student Program is to grow actuarial knowledge, business acumen and leadership skills in our Actuaries to enable the achievement of organizational goals.

Actuarial students are expected to progress through the levels of the job family based on academic/exam achievements and by developing their analytical skills, independent decision making, and effective communication and leadership skills.

Below are typical functions of the actuarial job family.  Actual responsibilities may vary based on the business line the position resides in, and the level of the position.  

• Valuation:  Calculate reserves and liabilities in accordance with regulatory requirements and applicable actuarial and accounting standards.  Review and maintain actuarial assumptions relevant to area of practice (e.g. mortality, morbidity, valuation interest rates), adhering to actuarial and industry standards. Test the adequacy of reserves and formulate recommendations on reserve adequacy/methodology or liability funding requirements to management.

• Actuarial/Experience Studies; Financial Modeling/Asset Liability Management (ALM)/Risk Management:  Gather, analyze and develop strong understanding of profitability, growth, ALM requirements, risk, customer retention, and expense trends, utilizing company, industry and capital market data as necessary.  Create and maintain models used in the analysis of ALM, risk management, income projection and regulatory requirements.  Communicate findings to management and provide quantitative knowledge for business/investment/financial strategies.  

• Financial Reporting/Regulatory:  Prepare the actuarial portion of financial statements following GAAP, statutory or tax reporting principles.  Analyze financial results of the corporation/division and identify drivers of earnings trends.  Communicate financial information to management to assist and influence corporate/division financial strategies.  Research complex regulatory issues, determine applicability to situation, and design effective methods to implement required procedures and communicate with affected parties.

• Data Analysis/Information Systems:  Extract, analyze and prepare data for use in actuarial modeling. Analyze, interpret and present numerical data related to pricing, reserves and other actuarial analysis.   Run, maintain and understand actuarial software and applications.  Design, implement and maintain open-source code applications for use in the analysis of financial risks. 

• Cross Collaboration:  Communicate and collaborate with various departments across the organization to meet business needs.  Using data and analysis, provide strategic guidance in influencing management decision making. 

• Actuarial Exams:  Prepare for and pass actuarial exams and maintain continuing education requirements. 

Skills and Background You’ll Need:

** This role may be filled as an Actuarial Associate I or Actuarial Associate II depending on experience level.**

Education: 

• Bachelor’s degree (or equivalent combination of education and experience) in mathematics, actuarial science, business or a related field preferred.
• Demonstrated experience in an actuarial capacity required (0-1 yr.)
• Successful completion of one (or more) actuarial exams/online courses.

Skills:

• Analytical Skills:    This position leverages its more advanced actuarial expertise to contribute to more complex calculations and analyses. Able to apply relevant actuarial and economic theories and standards to deliver high quality work. Continues to build knowledge of business context develops expertise in one or more lines of business or product areas.

• Independence:  Takes ownership of routine work, and applies learnings from actuarial exams/experience to improve process/analysis.  Contributes to the development of methods and procedures on new assignments.  The position may also team lead one or more advanced actuarial projects or studies. May also directly manage smaller or more routine actuarial projects.
• Influence:  Effective team player and able to build collaborative working relationships within own team and with external departments.  May provide direction and insight on the work of more junior level actuarial candidates and also coordinate/contribute to a number of different projects of some complexity/scale simultaneously. Develops effective communications and recommendations to management with supporting documentation.

Key Behaviors of a Successful Candidate:

• Winning together: Effective team player and able to build collaborative working relationships within own team and with external departments.

• Driving success: Takes ownership of routine work and applies learnings from actuarial exams/experience to improve process/analysis.

• Improvement Mindset: May provide direction and insight on the work of more junior level actuarial candidates and also coordinate/contribute to a number of different projects of some complexity/scale simultaneously.

Why join The Standard?

We have built an enduring legacy of stability, innovation and financial strength thanks to the contributions of the talented, creative and compassionate people who choose to work at The Standard. To ensure we can attract and retain the best talent, when you join The Standard you can expect:

• A rich benefits package including a 401(k) plan with matching company contributions
• An annual incentive bonus plan
• Generous paid time off
• A supportive and responsive management approach
• Opportunities for career growth and advancement 
• Paid time off to volunteer
• An employee giving program that double matches your donations to eligible nonprofits and schools
• Much more!

#LI-Remote

Please note - the salary range for this role is listed below. In addition to salary, our package includes incentive plan participation and comprehensive benefits including medical, dental, vision and retirement benefits, as well as an initial PTO accrual of 164 hours per year. Employees also receive 11 paid holidays and 2 wellness days per year.

• Eligibility to participate in an incentive program is subject to the rules governing the program and plan. Any award depends on various factors, including individual and organizational performance.

Salary Range:

Positions will be posted for at least 5 days from original posting date.

Standard Insurance Company, The Standard Life Insurance Company of New York, Standard Retirement Services, Inc., StanCorp Equities, Inc. and StanCorp Investment Advisers, Inc., marketed as The Standard, are Affirmative Action/Equal Opportunity employers. All qualified applicants will receive consideration for employment without regard to race, religion, color, sex, national origin, gender identity, sexual orientation, age, disability, or veteran status or any other condition protected by federal, state or local law. The Standard offers a drug and alcohol free work environment where possession, manufacture, transfer, offer, use of or being impaired by an illegal substance while on Standard property, or in other cases which the company believes might affect operations, safety or reputation of the company is prohibited. The Standard requires a criminal background investigation, employment, education and licensing verification as a condition of employment. All employees of The Standard must be bondable.