Actuarial Assistant

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POST DATE 9/15/2016
END DATE 10/8/2016

Ameritas Life Insurance Corp Lincoln, NE

Lincoln, NE
AJE Ref #
Job Classification
Full Time
Job Type
Company Ref #
Entry Level (0 - 2 years)
Bachelors Degree


Job Description

At Ameritas, Fulfilling life is what we do daily. We continuously strive to help our customers and employees enjoy life at its very best by reducing uncertainty, helping grow assets and protecting what is most cherished. We re here to help people put worry behind and the future ahead and help enable a life that s rich in family, happiness, health and financial security. When lives are Fulfilled, our mission is Fulfilled.

The objective of the Actuarial Assistant is to provide actuarial services to assist in building and maintaining actuarial models, to support the determination of statutory and GAAP reserves and other related actuarial balances, to support company experience studies and/or to support actuarial model-based risk management applications. Work is performed for all Ameritas insurance companies and includes all individual and retirement plan products.

Responsibilities include:

Provide timely and accurate work products. Document decisions made, processes put into place and other work performed.
Assist in the analysis and review of new or revised product specifications to implement product changes in the modeling and/or valuation software. Includes identification of new data requirements for new product features.
Set up, test and maintain actuarial models for the specified actuarial purpose. Learn and apply model coding standards to all model development work. Test new versions of the modeling and/or valuation software as released by the vendor.
Assist the managing actuary in responding to valuation and modeling-related questions and requests for information from internal product and risk-analysis actuaries, accountants, auditors, management and other associates, as well as external rating agencies, auditors and regulators.
Coordinate with the valuation team to appropriately model statutory reserves and GAAP requirements.
Update and document any model assumptions, including support for those assumptions, as directed.
Support actuarial risk management project runs as requested.
Assist in producing company experience studies as requested.
Provide support for the company s financial plan as well as support for reconciling actual actuarial values to the company s financial plan.
Assist in developing and implementing procedures to comply with new regulatory, control or governance requirements.
Develop new procedures to improve on existing processes.
Work on special projects as directed by the managing actuary or the department head.
Make progress toward attaining the Society of Actuaries ASA designation through passing exams and/or completing modules.

Ameritas offers a comprehensive benefit package to all associates, including:

PPO Health Insurance Plans
HSA & employer contributions
Dental coverage (including Lasik and Hearing Care benefits)
Vision coverage
Wellness program, resources and information
Fitness Subsidy Program
Dependent Care flexible spending accounts
Domestic Partner benefits

Credit for a minimum of two of the following seven Society of Actuaries requirements needed to obtain the Associate of the Society of Actuaries designation: all 3 VEE Subjects, Exam P, Exam FM, Exam MFE, Exam MLC, Exam C, or the FAP Course (including all 8 modules, the Initial Assessment and the Final Assessment).
Bachelor degree in Actuarial Science, Mathematics, Statistics or a related field.
Education or experience in modeling insurance product cash flows.
Basic knowledge of
o Statutory (including principles-based methods), GAAP, and tax reserve calculation methods
o Insurance company products and financial statements
Ability to accurately perform detailed calculations with a general understanding of how those calculations impact higher-level values and the company s financial statements.
Ability to clearly and thoroughly document assumptions, decisions, processes and other work performed.
Basic knowledge of insurance products and concepts, actuarial theory and techniques, and regulation of the insurance industry.
Understanding of advanced mathematical and statistical concepts.
Ability to work effectively both independently and as part of a team.
Strong analytical, problem solving, written and oral communication, and organizational skills.
Experience with Microsoft Office.
Ability to multi-task and switch back and forth between projects as needed.
Willingness to learn new software tools and packages.

General Profile:
Requires basic knowledge and experience in own discipline; still acquiring higher-level knowledge & skills
Builds knowledge of the company, processes and customers
Solves a range of straightforward problems
Analyzes possible solutions using standard procedures
Receives a moderate level of guidance and direction
Expertise/Business Expertise:
Understands the key business drivers; uses this knowledge in own work
Expertise/Functional Expertise:
Expands conceptual knowledge in own discipline and broadens skills
Delivering Solutions/Problem Solving:
Identifies and solves a range of problems in straightforward situations; analyzes possible solutions and assesses each using standard procedures
Delivering Solutions/Customer Focus:
Responds to nonstandard requests from internal and/or external customers; investigates with assistance from others as needed
Explains information and influences others in straightforward situations
Impact/Decision Making:
Makes decisions within guidelines and policies that impact own priorities and allocation of time to meet deadlines
Project Management:
Is accountable for technical contribution to project team or sub-team
May manage small projects with a limited scope
Financial Management:
Is aware of costs and assists in controlling costs related to own work