Product Development Associate, Actuary – IUL

Role Overview

• Design and refine IUL products, including index crediting strategies, cap/participation structures, multipliers, fixed account design, riders, and survivorship variations
• Build, enhance, and validate pricing models using advanced actuarial techniques, ensuring accurate representation of product behavior
• Set and maintain assumptions for mortality, persistency, expenses, funding patterns, rider use, and index crediting performance
• Develop pricing strategies that balance regulatory expectations, risk management considerations, and competitive market needs
• Incorporate requirements related to Standard Nonforfeiture Law (SNFL), Sections 7702 and AG 49 into product and pricing models, ensuring compliant and sustainable design parameters
• Conduct sensitivity testing, scenario modeling, and profitability analysis to evaluate product levers and support product positioning
• Collaborate with Investments to assess the feasibility and sustainability of index strategies, including option‑budget and hedging considerations
• Collaborate with Underwriting and Reinsurers to assess effectiveness and impacts of our underwriting practices
• Monitor IUL market trends to guide product mix strategy, identify innovation opportunities, and ensure products stay competitive
• Partner with Product, Distribution, and Marketing to align product designs with customer needs and sales strategies
• Mentor actuarial staff on modeling, pricing frameworks, and IUL concepts.
• Utilization of artificial intelligence tools and resources (e.g. generative AI)

Requirements

• 8+ years actuarial experience with background in life product development, including IUL
• Four-year degree required in Actuarial Science, Mathematics, Physics, Economics, Engineering, or related field
• Fellowship in the Society of Actuaries (FSA)
• Expertise with actuarial modeling platforms and pricing methodologies
• Experience applying SNFL, 7702, and AG 49 requirements within product design, modeling, and pricing frameworks
• Experience with underwriting program analysis and assessing impacts to mortality trends
• Ability to work both independently and collaboratively, ensuring long‑term project success across cross‑functional teams
• You must be legally authorized to work in the U.S. without requiring immigration sponsorship now or in the future.

Benefits

• a choice of comprehensive medical, dental and vision plan options
• flexible spending and health savings accounts
• tuition reimbursement
• student loan retirement program
• generous annual paid leave
• an outstanding 401(k) company match
• life insurance
• an award-winning campus with an array of discounted amenities, including an onsite health center, child development center, fitness facility, convenience store and two cafeterias.