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Actuarial Business Analyst I/ II

Actuarial Business Analyst I/ II

location1 National Life Dr Unit 9000, Montpelier, VT 05602, USA
PublishedPublished: 12/18/2023
Project Management / Professional Services
Full Time

Actuarial Business Analyst I/ II

 *This role is not an actuarial rotational position and does not require any exams. No actuarial exam support will be provided in this role. 

Summary

The Actuarial Business  Analyst II position reports to the Actuary, Life and Annuity Product Implementation and Management and is responsible for the setup of Life and Annuity products.  Working under minimal supervision, this role will define products and load rates on administration systems, illustration systems and ancillary systems by performing tasks as assigned.   The Product Systems Analyst II will independently perform systems analysis and modify product testing tools to ensure all life and annuity product calculations are complete and accurate.  This role will interact with other business units and teams, including Agile scrum teams, product development actuaries, and the policy forms team to provide input on systems processing and calculations in support of defining new products and benefits and the creation of policy forms.

Key Responsibilities

  • Assist in identifying areas of the systems requiring modification to support new product designs and functionality
  • Coordinate tasks associated with creating and modifying life and annuity product plans on administration, new business, illustrations, and other systems
  • With oversight, read/review product pricing requirements, elicit necessary information by seeking answers from appropriate business partners. Write business requirements for needed modifications to systems, if applicable.
  • Modify and create test tools to validate product rates and values on impacted systems, following established protocols and standards
  • Create and execute validation test plans for new products, following established protocols and standards
  • Help guide the efforts of Product Systems Analyst I in support of product implementation and management support
  • Continue learning Life and Annuity products, their benefit structures and calculations, and the systems on which they are illustrated and administered
  • Consult with the policy forms team as required to assist in the development of new forms and review materials in support of state filings
  • Produce values for marketing materials and review such materials for accuracy
  • Create and maintain tools and applications such as an ABR calculator required for the accurate implementation, administration, and support of life and annuity products.  Deploy such tools for use by other business units as appropriate.
  • Work to build and/or strengthen cross-functional partnerships with other business units and teams throughout the organization such as PMO, IT and QA, Customer Experience Center, New Business, and Policy Services.
  • Liaise with other L&A solutions team members regarding policy calculations and values.
  • Responsible for Vantage table creation and maintenance

Job Requirements

  • Bachelor’s degree – mathematics, finance, computer science or related degree preferred
  • Experience – 1- 5 years in systems or systems support role in financial services industry.
  • Experience with a wide range of life insurance and annuity products with a demonstrated understanding of product mechanics and calculations, including development of UL, indexed UL, and/or whole life cash value and death benefit calculations, definition of life insurance and modified endowment calculations, interest theory, and other related actuarial product benefit calculations.
  • Ability to work both independently and as part of a team, accurately and in a timely manner
  • Leadership and Problem-solving abilities
  • Strong math, analysis and communications skills.
  • Understanding of MS Office suite of applications including very strong Excel skills.
National Life is accepting applications for this role on an ongoing basis and the role remains open until filled.   
The base compensation range represents the low and high end of the range for this position. Actual compensation will vary and may be above or below the range based on various factors including but not limited to qualifications, skills, competencies, location, and experience. The range listed is just one component of our total compensation package for employees.
Other rewards may include an annual bonus, quarterly bonuses, commissions, and other long-term incentive compensation, depending on the position.  National Life offers a competitive total rewards package which includes: a 401(k) retirement plan match; medical, dental, and vision insurance; a company funded wellness account for director and below employees; 10 paid holidays; a generous paid time off plan (22 days of combined time-off for non-exempt employees and exempt employees have discretion in managing their time, including scheduling time off in the normal course of business, but in no event will exempt employees receive less sick time than required by state or local law); 6 weeks of paid parental leave; and 6 weeks of paid family leave after a year of full-time employment
National Life Group® is a trade name of National Life Insurance Company, Montpelier, VT – founded in 1848, Life Insurance Company of the Southwest, Addison, TX – chartered in 1955, and their affiliates. Each company of National Life Group is solely responsible for its own financial condition and contractual obligations. Life Insurance Company of the Southwest is not an authorized insurer in New York and does not conduct insurance business in New York. Equity Services, Inc., Member FINRA/SIPC, is a Broker/Dealer and Registered Investment Adviser affiliate of National Life Insurance Company. All other entities are independent of the companies of National Life Group.
Fortune 1000 status is based on the consolidated financial results of all National Life Group companies. 
National Life Group
1 National Life Dr
Montpelier, VT 05604
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