Actuarial Analyst - Product Development
Pan-American Life Insurance Group
Oak Brook, IL$58,700 - $80,000 a yearFull Time
Job Description
Pan-American Life Insurance Group (PALIG) is seeking an entry-level Actuarial Analyst who will be involved with a wide variety of actuarial aspects related to product development and management for US individual life products.
This role will be based out of our Oak Brook, IL. office and expected to be onsite for initial training.
ESSENTIAL FUNCTIONS:
Pricing & Product Development:
Learn actuarial pricing software (AXIS)
Assist pricing efforts for US Life products
Aid in developing actuarial memorandums and rate manuals as necessary
Assist in developing rates for new and Inforce products
Product Implementation Testing: Test calculated values in administration and illustration systems to determine accuracy
Experience Analysis: Assist in developing experience studies as needed for individual life products
Dividend Scale Development & Maintenance:
Support annual Dividend Scale Development for MTL products.
Aid in database management, maintenance, and usage (ACCESS)
Aid in building and running dividend payout projections and reports (ACCESS & Excel)
Support/Assist annual Dividend Scale implementation and testing.
Support PALIC dividend scale testing and calculations, as needed.
Support PALIC-OH annual dividend scale process.
Support the streamlining & efficiency efforts within the dividend processes and communications throughout PALIC.
Other Special Projects as Assigned:
Assist with Capital Projects, as needed.
Assist in Illustration Regulation testing of new dividend scales, as needed and assigned.
Support other Projects as they arise.
Expand actuarial knowledge via work assignments and SOA exams.
Create and maintain documentation, particularly procedures and instructions.
KEY REQUIREMENTS:
Bachelor's degree in analytic/quantitative discipline
1-2 years' work experience in a financial job preferred
1 Society of Actuaries exam passed or equivalent, but prefer 2 Society of Actuaries exam passed or equivalent
Knowledge of Microsoft Office (Excel/Access)
Excellent analytical and organizational skills, and a results-oriented perspective
Excellent verbal and written communication skills
What We Offer:
Competitive compensation package (base salary & bonus) Base salary could range from $58,700 to $80,000, depending on experience and passed exams. This role comes with an annual 4% bonus opportunity.
Comprehensive benefits including medical, dental, 401(k), paid time off, and tuition reimbursement
Medical and dental coverage available starting the first of the month following 30 days of service
Hybrid work opportunities
About Us:
Pan-American Life Insurance Group (PALIG) serves the life, accident, and health insurance needs of individuals and businesses across 49 U.S. states, the District of Columbia, Puerto Rico, and the U.S. Virgin Islands through its U.S.-based member companies—Pan-American Life Insurance Company and Pan-American Assurance Company.
At PALIG, our employees are our greatest asset. We value collaboration, trust, and the confidence of our policyholders. Our long-standing commitment to excellence continues to drive our success.
Pan-American Life is an Equal Opportunity Employer and a Drug-Free Workplace.
This role will be based out of our Oak Brook, IL. office and expected to be onsite for initial training.
ESSENTIAL FUNCTIONS:
Pricing & Product Development:
Learn actuarial pricing software (AXIS)
Assist pricing efforts for US Life products
Aid in developing actuarial memorandums and rate manuals as necessary
Assist in developing rates for new and Inforce products
Product Implementation Testing: Test calculated values in administration and illustration systems to determine accuracy
Experience Analysis: Assist in developing experience studies as needed for individual life products
Dividend Scale Development & Maintenance:
Support annual Dividend Scale Development for MTL products.
Aid in database management, maintenance, and usage (ACCESS)
Aid in building and running dividend payout projections and reports (ACCESS & Excel)
Support/Assist annual Dividend Scale implementation and testing.
Support PALIC dividend scale testing and calculations, as needed.
Support PALIC-OH annual dividend scale process.
Support the streamlining & efficiency efforts within the dividend processes and communications throughout PALIC.
Other Special Projects as Assigned:
Assist with Capital Projects, as needed.
Assist in Illustration Regulation testing of new dividend scales, as needed and assigned.
Support other Projects as they arise.
Expand actuarial knowledge via work assignments and SOA exams.
Create and maintain documentation, particularly procedures and instructions.
KEY REQUIREMENTS:
Bachelor's degree in analytic/quantitative discipline
1-2 years' work experience in a financial job preferred
1 Society of Actuaries exam passed or equivalent, but prefer 2 Society of Actuaries exam passed or equivalent
Knowledge of Microsoft Office (Excel/Access)
Excellent analytical and organizational skills, and a results-oriented perspective
Excellent verbal and written communication skills
What We Offer:
Competitive compensation package (base salary & bonus) Base salary could range from $58,700 to $80,000, depending on experience and passed exams. This role comes with an annual 4% bonus opportunity.
Comprehensive benefits including medical, dental, 401(k), paid time off, and tuition reimbursement
Medical and dental coverage available starting the first of the month following 30 days of service
Hybrid work opportunities
About Us:
Pan-American Life Insurance Group (PALIG) serves the life, accident, and health insurance needs of individuals and businesses across 49 U.S. states, the District of Columbia, Puerto Rico, and the U.S. Virgin Islands through its U.S.-based member companies—Pan-American Life Insurance Company and Pan-American Assurance Company.
At PALIG, our employees are our greatest asset. We value collaboration, trust, and the confidence of our policyholders. Our long-standing commitment to excellence continues to drive our success.
Pan-American Life is an Equal Opportunity Employer and a Drug-Free Workplace.