Actuarial Fellow jobs in Madison, WI

Life is about to get better!

BetterLife is dedicated to living our mission to help our members protect their families’ financial futures, build better lives, and better their communities. It drives the decisions we make, including the people we choose to join our team.

BetterLife is now hiring a Senior Director of Pricing and Product Design. The ideal candidate will have a proven track record of collaborating on future life insurance product designs, pricing, budget/forecast projections, risk capture, and analyzing cost savings opportunities. This thought leader will play a key role in BetterLife’s growth and long-term success by leading all pricing and product design activities.

Company Overview:

BetterLife was formed in January 2021 after a merger of two companies with histories going back more than 125 years. We are a member-owned life insurance company with a large focus on supporting the member communities that we serve. Our home office is in Madison, Wisconsin and we are authorized to do business in 18 different states.

Position Overview:

Reporting to the CFO, the Senior Director of Actuarial Pricing and Product will be responsible for the generation, pricing, and management of BetterLife’s insurance products to ensure the financial stability and competitiveness of the product portfolio. The role will also be responsible for developing the organization’s reinsurance strategy and will assist in developing and maintaining reinsurer relationships and reporting. To be successful in this role you’ll be able to monitor emerging experience, provide actuarial analytics and effective communication to key stakeholders and Senior Management

What you’ll do:

• Product strategy design and execution
  • Analyze experience data, mortality trends, and market dynamics to inform product design and pricing decisions in alignment with the organization’s objectives
  • Stay current on industry trends, actuarial methodologies, emerging technologies, and regulatory changes to inform product decisions
• Product development and pricing
  • Develop and maintain actuarial models and tools to support product development, pricing, and profitability analysis
  • Conduct actuarial analysis to evaluate the financial impact of proposed product changes and pricing strategies
  • Collaborate with cross-functional teams including underwriting, marketing, finance, and technology to develop new products or modify existing features
  • Ensure compliance with regulatory, financial reporting, and industry requirements and standards
• Reinsurance program
  • Participate in the development and implementation of risk and capital management initiatives, including reinsurance
  • Help negotiate reinsurance pricing and treaty terms
  • Ensure accurate and on-time reporting and payments to reinsurance partners
• Miscellaneous duties and projects assigned

This job description describes the general nature and scope of responsibilities for this position. Please note other duties may be assigned at any time.

What you should bring to the table:

• Bachelor’s degree in Actuarial Science, Mathematics, Statistics, or related field; Fellowship in the Society of Actuaries (FSA) designation preferred
• Minimum of 10 years of actuarial experience in the life insurance industry, with a focus on product development and pricing. Strong technical proficiency in actuarial modeling systems and practices
• Excellent analytical, problem-solving, and decision-making abilities
• Deep understanding of life insurance products, underwriting principles, mortality risk, and regulatory and financial reporting requirements
• Exceptional communication and interpersonal skills, with the ability to collaborate effectively across departments and influence stakeholders at all levels
• Results-oriented with a proven track record of successfully developing and pricing life insurance products

Why you should be excited:

You’ll make a difference. At BetterLife, we are proud of our mission; to help our members protect their families’ financial futures, build better lives, and better their communities. As a member-owned organization, we are passionate about engaging our members to make a difference in their communities. We make the world a better place!

• Diversity. We are committed to building a diverse team and encourage applicants to apply regardless of race, sex, gender identity, religion, age, disability, or any other status protected by law.
• You’ll love the people you work with. We believe in helping people, making a difference, working hard, embracing change, doing the right thing, respecting each other, and having fun.
• Competitive compensation and benefits package. We offer a competitive total rewards package with guaranteed base pay with the ability to earn more through bonuses plus an 8% contribution to your 401K along with health, dental, vision, life, & disability insurance. In addition, you will receive paid vacation, sick leave, and holidays. We also support employees through tuition reimbursement.

Submit your resume today to be a part of a growing team of people passionate about bettering lives!

Job Type: Full-time

Benefits:

• 401(k)
• 401(k) matching
• Dental insurance
• Health insurance
• Life insurance
• Paid time off
• Vision insurance

Schedule: Monday to Friday

Work Location: Onsite or remote opportunity is available for the qualified candidate.

Travel: This position requires minimal to no travel. On occasion, may be asked to attend seminars or conferences.

Physical requirements: This position is performed in an office environment (could be done remotely) and requires prolonged periods of sitting at a desk and working on a computer. Individuals must be able to lift 15 pounds at a time.

Accommodations: Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions of the position.