Job Information
American Equity Actuarial Intern in West Des Moines, Iowa
Description
At American Equity Investment Life Holding Company, we think of ourselves as The Financial Dignity Company. Our policyholders work with independent agents, banks and broker-dealers through our wholly-owned operating subsidiaries, to choose one of our leading annuity products best suited for their personal needs to create financial dignity in retirement. We remain steadfast in our commitment to quality products, excellent customer service, integrity, safety and delivering on our promises to our policyholders. Our success comes from hiring people who embody the beliefs that drive our unique, energetic, fast-paced and caring culture of collaboration, ownership and innovation.
We currently fund over half a million retirements nationwide, and have been headquartered in West Des Moines, Iowa, for over twenty-five years, with satellite offices opened in early 2023 in Charlotte, NC, and New York, NY. We are a NYSE-listed company and maintain an “excellent” rating from AM Best. Our company has over $57 billion in assets, 26,000 active agents and over 800 employees.
GENERAL PURPOSE OF THE JOB:
The Actuarial Intern will work on a team with responsibility for one of the primary actuarial functions including modeling, pricing, valuation and reporting of fixed indexed annuities.
*This is a 10-12 week on-site summer internship position located in West Des Moines, Iowa.
ESSENTIAL DUTIES AND RESPONSIBILITIES:
Model development in MG-ALFA for fixed indexed annuities including identifying, addressing and resolving model changes in a controlled framework.
MG-ALFA model input review to ensure the accuracy.
Ensuring the accuracy of the calculations in MG-ALFA model using Excel-based independent calculators.
Model production in MG-ALFA using Microsoft Azure to produce timely results.
Generating and reviewing reserve calculations across both Statutory and GAAP reporting requirements on fixed indexed annuities.
Timely and accurate reporting, validation and analysis of assets and liabilities, as well as delivery of required quarterly reporting items.
Building reports in MG-ALFA for fixed indexed annuities or similar products for additional management analysis.
Assisting in product design and develop actuarial models to price the cost of new liabilities using an internal rate of return or present value of distributable earnings.
Assisting in rate setting and pricing of new annuity products.
Answering policyholder services questions such as verifying contract account values or surrender values.
Modifying and enhancing the independent calculators.
Researching policyholder data using various tools such as SQL, R, and/or Python.
Other related work as assigned.
SUPERVISORY RESPONSIBILITIES:
None.
EDUCATION AND/OR EXPERIENCE:
Actively pursuing a bachelor’s degree in actuarial science, or related field of study.
Passing score on at least 1 preliminary actuarial examination is preferred.
CERTIFICATES, LICENSES, PROFESSIONAL DESIGNATIONS:
- Actively pursuing completion of actuarial examinations.
KNOWLEDGE, SKILLS AND ABILITIES:
Understanding of actuarial science and the ability to apply this knowledge is critical.
Exceptional attention to numeric and other detail.
Strong statistical and advanced math skills, including excellent Excel skills.
Ability to comprehend and apply principles of advanced mathematical concepts and theories.
Ability to apply principles of logical thinking to a wide range of intellectual and practical problems.
Ability to define problems, collect data, establish facts and draw valid conclusions.
Ability to deal with a variety of abstract and concrete variables.
Ability to work cooperatively and successfully with employees, customers, reinsurers, vendors and other outside third parties.
Ability to successfully handle pressure and meet deadlines in a fast-paced work environment.