Actuarial Fellow jobs in Rock Island, IL

Modern Woodmen’s Actuarial Services team is looking for a detail oriented and customer focused individual to provide administrative support as an Actuarial Services Analyst. Responsibilities include assisting with changes and corrections to the values of Modern Woodmen products, including analyzing and testing values and formulas for new and existing programs and systems. This position will also prepare quotes and illustrations of existing products upon request from financial representatives across the United States and internal home office departments.

Modern Woodmen of America is the nation’s third largest fraternal benefit society with assets over $17B. Fraternal benefit societies are unique membership organizations with peculiar names that pair the “member owned” characteristic of a mutual insurance company with the “social mission” characteristic of a service organization. They unite individuals with common bonds, provide a variety of life insurance and investment products, and form one of the nation’s most effective volunteer networks.

Responsibilities:

• Analyze the accuracy of certificate rates and values for administrative and sales support systems and make necessary corrections.
• Investigate periodic error lists and make corrections to certificate values as appropriate.
• Respond to inquiries concerning product values and assess requests for database changes from other Home Office employees
• Provide requested quotes and illustrations of values for members, Home Office employees and field representatives for all MWA product lines.
• Collaborate with actuarial staff for testing values, procedures and forms for new and existing products and systems.
• Aid Home Office departments in researching, evaluating, suggesting alternatives and implementing responses to member complaints or legal adjustments to product rates and values.
• Contribute to documentation of product calculations and factors for reference and disaster recovery.
• Support the administration of Modern Woodmen’s reinsurance programs including maintaining accurate reinsurance records, calculating and paying reinsurance premiums, assisting with reinsurance claims, balancing in force, reconciling and resolving error reports.

What we need:

• Bachelor’s degree.
• Two years of related actuarial or insurance industry experience preferred.
• Strong math skills.
• Be willing to take initiative and solve problems.
• Strong attention to detail and accuracy.
• Excellent communication and customer service skills.
• Ability to multi-task and practice good time management skills, both individually and as part of a team.
• Basic understanding of products sold within the life insurance/financial services industry preferred.

What we offer:

• Pay: The hourly pay for this position is a minimum of $24.00. The specific rate will depend on the successful candidate’s qualifications and prior experience.
• Work Arrangements: This is a full-time hybrid position: 37.5 hours per week (7.5 hours per day), Monday- Friday, with flexible start time between 7:00AM-9:00AM. Hybrid positions work at least 3 days in office and the remaining days each week working from home.  Employees beginning to work in a new hybrid role will be asked to work on-site (5 days a week) during the initial training period which may be up to 1 year.
• Stability: Modern Woodmen has been Modern Since 1883_SM and exists for our members. We make long-term decisions that provide stability to our employees, financial representatives, and members.
• Respect for Personal Time: We offer vacation, sick leave and 11 paid holidays. We value your time outside of work and offer careers that blend work and life well.
• Professional Growth: Benefit from our commitment to employee development which includes educational offerings to enhance your knowledge of our industry.
• Great Culture: We build strong working relationships across our organization through collaborative work and volunteer opportunities.
• A Beautiful Office: Enjoy a beautiful view! Our home office, located in downtown Rock Island, IL, has a lovely plaza overlooking the Mississippi River.
• On-site café: Our employees can purchase a variety of breakfast, lunch, and beverage options at Café 1883.
• Exceptional Benefits: Our comprehensive benefits package is designed to support your health and financial well-being. Benefits include:

• Company-paid retirement plan
• Matching 401(k) Plan
• Medical, Dental, Prescription drug Insurance. We pay 100% of employee health insurance premium and 50% of employee dependents’ premiums.
• Group Term Life Insurance
• Long-term and short-term disability.
• Voluntary benefits: Vision, Flexible Savings Accounts, Accident Insurance

Modern Woodmen is an equal opportunity employer. Modern Woodmen is committed to providing a respectful environment where each person’s diverse opinions, attitudes, attributes, and feelings are respected.