Cedar Rapids, IA, United States
Job Title :
Cedar Rapids, IA US
Posted On :
Job Type :
Job Description Summary
The people of Transamerica bring expertise, creativity, heart and diverse thought to everything that we do-and to the communities where we live and work Are you interested in asset liability management and developing hedge models? Are you interested in working with financials within the insurance space? If your answer is yes, we are looking for you!
What You Will Do:
You will be responsible for supporting the overall model management and modernization activities for ALM hedge programs ensuring model changes to the production hedge models are accurate, determining and communicating the downstream financial impacts model changes.
Model Development Team: Provide business requirements, and provide sign-off on model changes
Pricing teams: To understand and develop new product features
Valuation Reporting Team: Provide downstream financial impacts
What You Will Learn:
Working with Transamerica and their Variable Annuity book with approx. $70bn in account value and covers GMDB, GMIB, GMWB and GMAB riders. Learn to manage the market risks associated with this business a number of hedge programs are in place to protect IFRS earnings (Dynamic hedge programs) and Capital Generation (macro hedge programs) from adverse market impacts. Also gain exposure to Transamerica’s other blocks of business such as IUL, FIA and SVS which also have their own hedge programs.
What Success Looks Like:
Work with Actuarial Integrity and Change Management teams as part of improving and modernizing the current testing process with the aim of streamlining life cycle
Represents the hedge models on project teams with regard to researching and solving modeling and data issues, implementing new products/product features or enhancements, review and implementation of proposed assumption and methodologies with a thorough understanding of these products and the code and architecture of their supporting models.
Manages model databases, including planning quarterly implementations, reviewing/updating estimated financial impacts (EFIs), ensuring completed items are closed and working with Model Governance on review of completed items and that appropriate EFI Maintenance activities are followed; collaborates with other teams as needed (i.e., model developers, owners, data/inforce, experience studies)
Coordinates the overall model management and planning of future model improvements, including building management reporting of model status (including current Model Validation score, notable model shortcomings, etc), planned future changes and remediation of model gaps
Partners with Model Integrity team to plan future Model Validation activities, supports training and education of Model Owners/Supervisors to embed documentation/testing requirements into the Valuation team
What You Need:
Requires an advanced degree in math, actuarial science, statistics, related science field, finance, or related business field OR Bachelor’s Degree plus FSA/CFA/Equivalent Designation OR Bachelor’s Degree plus 3 years experience. Candidates without a designation should be making progress towards an FSA, ASA, FRM, CFA or similar designation.
Must possess good understanding of investment and finance concepts, and be able to creatively apply them in solving analytical problems in the business setting. Must possess excellent communication skills.
Knowledge of VA, IUL and FIA product lines is preferred
What You Receive:
A Comprehensive Wealth Health
It’s our passion to empower people, and especially our employees, to add years to their lives and more life to their years. That means a healthy account balance and a healthy body to match. As you’ll come to discover, Wealth Health is a central part of everything we do!
; Competitive Pay, Bonus, and Benefits Package; Pension Plan, 401k Match, Employee Stock Purchase Plan, Tuition Reimbursement, Disability Insurance, Stock Purchase Plan, Employee Discounts, Career Training & Development Opportunities, Certification Sponsorship
Health and Work/Life Balance Benefits
; Be Well
Company sponsored holistic wellness program which includes Wellness Coaching and reward dollars, Parental Leave, Adoption Assistance, Employee Assistance Program, College Coach Program, Back-up Care Program, Paid Time Off to Volunteer, Employee Matching Gifts Program, Employee Resource Groups, Inclusion and Diversity Programs, Employee Recognition Program.
Website : http://www.transamerica.com/
The way we see it, we don't just crunch numbers and manage investments. We make things. 14.2 million customers(1) count on us to help them make the things that matter. Things like peace of mind, steady incomes and fulfilling retirements. We've always stood behind a simple idea: we do what we say we're going to do. We've done so for over 100 years, and we'll keep delivering on our promises – so we can keep making the things that make Tomorrow better…