Assistant Actuarial Analyst-Life Products*
Sun Life Financial - Wellesley, MA

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ACT00978

Position Summary:
The position is geared towards an actuarial student currently going through his or her exams, to serve in a pricing actuary role within the Life Product Management department of Individual Insurance. This spot will get involved in an exciting variety of actuarial activities and functions leading to the successful launch of life products.

This position offers a dynamic opportunity to use a wide range of actuarial skills and expertise through active involvement in a critical business process vital to the success of the Individual Insurance business unit. The Life Product Management department is currently responsible for the pricing, risk assessment and design of single life and survivorship universal, variable universal, linked-benefit and term life insurance product offerings, designed to support the sales and financial objectives of the U.S. Individual Insurance Div. The department is also responsible for the build of most of the M-Financial proprietary products. Overall, this department is responsible for life insurance products developed for Retail Brokerage, wire houses, broker-dealers and banks, National Financial Partners, M Financial, Private Client Group and Bermuda International distribution channels.

Position Responsibilities:
The chosen candidate will have opportunities to be involved with a wide gamut of areas throughout the organization:

Collaborate with Sales and Distribution, Marketing, Systems, Legal, Corporate Actuarial, Service Center, Compliance and others across the division to create appealing and innovative products

Interact within the department to set rates and charges that meet Individual Insurance pricing and competitive objectives and comply with regulatory requirements

Assisting to produce and disseminate profit results that reflect Canadian Reporting and NAIC financial requirements

Intersect with Valuation to reconcile pricing results to valuation results

Provide detailed product specifications to the Systems area and support product implementation by providing benchmarks and personal interface with those involved in implementation

Build Excel modeling spreadsheets to help dig into the underlying product mechanics

Support the Product Filing and Legal departments on product and SEC filing by providing descriptions of features and benefits and through actuarial certifications and demonstrations

Assist with Risk Management to assess and document all new product risks and mitigation strategies

Join with Valuation and Experience area to provide input into assumption setting, particularly for mortality and lapse, for pricing projects

Coordinate with the Reinsurance department to provide analysis and support of reinsurance activities

Work with Systems and Legal departments to assure life products comply with U.S. taxation requirements

Communicate within and without the division, concerning all aspects of product development and its impact on the organization

Document product development and pricing results in compliance with corporate pricing standards

Participate in corporate initiatives that require actuarial analysis of new business products

Respond to various Actuarial Surveys (Mortality, Lapses, etc...)

Contract and oversee External Actuarial Consultants to expand capacity and expertise in product development

Monitor, review and report on emerging profitability of new business products previously priced and currently sold

Apply judgment and analytical skills to make recommendations in sales situations that fall outside of normal guidelines

Up to three Society of Actuaries exams

CGAAP experience is desired but not mandatory

Results-oriented focus

Exposure to pricing approaches of other lines of business is desired, not mandatory

Strong communication skills (oral and written); ability to work in a team environment

Demonstrated creativity and innovation

Familiarity with AXIS/ALFA PRICING systems;

VB Visual and macro writing ability, APL, Excel, Powerpoint

Job

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Actuarial

Primary Location

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US-MA-Wellesley

Employee Status

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Regular

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Full-time

Unposting Date

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Ongoing

Sun Life Financial - 4 years ago - save job
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Sun Life is a leading international provider of protection and wealth accumulation products and services to individual and corporate...