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Aegon Asset Management Actuarial Internship (Summer 2023) in Cedar Rapids, Iowa

Job FamilyAdministrative Services

Who We Are

Transamerica has been helping people feel better about the future for more than 100 years. We provide investment, retirement, and life insurance solutions to more than 11 million customers throughout the U.S. But the way we see it, our responsibility goes beyond our clients’ accounts. We’re in the business of helping people live well and empowering them to create a better tomorrow through the financial and health-related habits they form today. We help people prepare by providing solutions that consider the whole picture.

What We Do

Transamerica is organized by lines of business (Life Insurance, Annuities, Mutual Funds, Retirement Plans, Employee Benefits, and Financial Assets), which are supported by Transamerica Corporate (Corporate Development; Finance; Internal Audit; Legislative, Regulatory & Policy; Office of the CEO; People, Places & Brand; Risk; and Technology).

Job Description SummaryTransamerica's actuarial internship program is a growing and evolving program that provides college students the opportunity to gain true business experience in a hands-on working environment. Annually, actuary teams employ around 35 interns. This is a temporary position of approximately 12 weeks duration, typically starting in late May.Job Description

Typical assignments in the Actuarial function include an introduction to the business, product development, financial reporting, and risk management. Projects may include:

  • Compile data for experience analyses and prepare related reports

  • Assessing current and new product designs for feasibility in the marketplace

  • Translating product specifications into valuation assumptions for new products

  • Pricing of new and existing product designs to ensure that Division profit goals are met

  • Assisting in statutory, GAAP, and tax valuation and other miscellaneous reserving requirements

  • Assist with quarterly ALM risk profiles, investment income budget, regulatory reserve adequacy testing and determination, and other actuarial valuation

  • Building and running computer asset/liability models using actuarial modeling software

  • Conversion of existing actuarial systems to new platforms

  • Automate processes by writing programs or macros

Qualifications:

We are looking for Freshmen, Sophomores, and Juniors enrolled as full-time students, ideally majoring in Actuarial Science, Mathematics, or Statistics. Most interns will have already passed at least one SOA exam by the time of their internship. Candidates must not require sponsorship for employment now or in the future. Desired skills include:

  • Strong mathematical skills, analytical skills, initiative, and attention to detail.

  • Strong written and oral communication skills.

  • Desire to work in a team environment.

  • Knowledge of MS Excel or other spreadsheet applications.

  • Knowledge of at least one computer programming language and/or Visual Basic.

  • Knowledge of R, Python, or similar database applications.

  • Familiarity with MS Access or other database applications is preferred.

  • Previous or current leadership experience is preferred.

  • Must be eligible to work in the US & not require sponsorship for Visa Employment Status.

Working Conditions

  • Office Environment

This job description is not a contract of employment nor for any specific job responsibilities. The Company may change, add to, remove, or revoke the terms of this job description at its discretion. Managers may assign other duties and responsibilities as needed. In the event an employee or applicant requests or requires an accommodation in order to perform job functions, the applicable HR Business Partner should be contacted to evaluate the accommodation request.

What We Offer

For eligible employees, we offer a comprehensive benefits package designed to support both the personal and financial well-being of our employees .

Compensation Benefits

  • Competitive Pay

  • Bonus for Eligible Em ployees

    Benefits Package

  • Pension Plan

  • 401k Match

  • Employee Stock Purchase Plan

  • Tuition Reimbursement

  • Disability Insurance

  • Stock Purchase Plan

  • Employee Discounts

  • Career Training & Development Opportunities

    Health and Work/Life Balance Benefits

  • Paid Time Off

  • Paid Holidays

  • Be Well Company holistic wellness program, which includes Wellness Coaching and Reward Dollars

  • Parental Leave

  • Adoption Assistance

  • Employee Assistance Program

  • College Coach Program

  • Back-Up Care Program

  • PTO for Volunteer Hours

  • Employee Matching Gifts Program

  • Employee Resource Groups

  • Inclusion and Diversity Programs

  • Employee Recognition Program

  • Referral Bonus Programs

  • Peer Recognition Program (BRAVO)

    Inclusion & Diversity

    Transamerica has made a strong commitment to inclusion and diversity, and we are proud to be an organization where all perspectives are valued. Transamerica has earned recognition for its strong efforts year-over-year, including from the Human Rights Campaign’s Foundation Corporate Equality Index, the Diversity Best Practices Inclusion Index, and Seramount’s “100 Best Companies” list.

    In addition, as part of Transamerica’s commitment to maintaining an inclusive workplace, the company sponsors employee-driven Employee Resource Groups (ERGs), which are formed around a shared interest or a common characteristic of diversity. ERGs are open to all employees and provide a supportive environment for raising diversity awareness and promoting inclusive behavior.

    Giving Back

    Transamerica believes our responsibilities extend beyond our corporate walls. That's why we created the Aegon Transamerica Foundation in 1994. Through a combination of financial grants and the volunteer commitment of our employees, this foundation supports nonprofit organizations focused on the education, health, and well-being of the communities where we live and work.

    https://www.transamerica.com/why-transamerica/aegon-transamerica-foundation

    Transamerica’s Parent Company

    Aegon (http://www.aegon.com/) acquired the Transamerica business in 1999. Aegon’s roots go back more than 175 years to the first half of the nineteenth century. Since then, Aegon has grown into an international company, with businesses in the Americas, Europe, and Asia. Today, Aegon is one of the world’s leading financial services organizations, providing life insurance, pensions, and asset management. As a leading global investor and employer, the company seeks to have a positive impact by addressing critical environmental and societal issues, with a focus on climate change and inclusion and diversity.

    Websites

    Transamerica | Protecting Your Wealth and Health since 1906 (https://www.transamerica.com/)

    Aegon Group Corporate Website | Aegon

    Management Team

    Transamerica Leadership - Standing For Financial Innovation Since 1906 | Transamerica (https://www.transamerica.com/why-transamerica/leadership)

At Transamerica, hard work, innovative thinking and personal accountability are qualities that we honor and reward. We understand the potential that is unleashed by leveraging the talents of a diverse workforce. We embrace an environment where employees enjoy a balance between their careers, families, communities and personal interests. Ultimately, we appreciate the uniqueness of a company where talented professionals work collaboratively in a positive environment focused on helping customers secure their long-term financial futures.

Transamerica is a part of AEGON, an international life insurance, pension, and asset management company. The AEGON companies employ approximately 28,000 people and have a strong presence in more than 20 countries across the globe. For more information, visit www.transamerica.com.

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