Life Actuary Associate - Life Actuarial Modeling Team (PHOENIX)

Why USAA?

At USAA, our mission is to empower our members to achieve financial security through highly competitive products, exceptional service and trusted advice. We seek to be the #1 choice for the military community and their families.

Embrace a fulfilling career at USAA, where our core values – honesty, integrity, loyalty and service – define how we treat each other and our members. Be part of what truly makes us special and impactful.

The Opportunity

Dedicated Life Actuary Associate to join the Life Company’s Actuarial Modeling Team. This role coordinates, prepares, and performs actuarial analyses required to develop new products, project future results, reprice existing products, and/or determine financial strength.

This role is remote eligible in the continental U.S. with occasional business travel. However, individuals residing within a 60-mile radius of a USAA office will be expected to work on-site four days per week. Relocation assistance is not available for this position.

What you'll do:

• Performs moderately complex to complex work assignments utilizing actuarial modeling software driven models for pricing, valuation, and/or risk management.

• Responsible for data compilation, analytical support, and data integrity to include entering data and tables, running models, and generating reports.

• Participates in developing recommendations for model adjustments and improvements, when appropriate.

• Identifies and resolves issues pertaining to model projections and data analysis. Navigates obstacles that arise to deliver the work product.

• Serves as a resource to team members on escalated issues of a routine to moderately complex nature.

• Serves as a key resource on projects involving cross functional actuarial areas.

• Leads smaller projects through concept, planning, execution, and implementation phases with minimal guidance (i.e. leading annual assumption/ model updates.)

• Produces charts, tables, and reports to explain calculations and proposals. 

• Maintains and develops procedures supporting key processes, including but not limited to: actuarial models, tools leveraged in complying with laws and regulations, reports, etc.

• Maintains proper price level, price structure, data availability and other requirements to achieve profitability and competitive goals.

• Identifies critical assumptions to monitor and suggest timely remedies to correct or prevent unfavorable trends.

• Identifies sources of gain and loss by product and assumption with presentations to direct supervisor.

• Tests impact of assumptions and the appropriate premiums, interest margins, reserves, and cash values for profitability and viability of new and existing products.

• Ensures risks associated with business activities are effectively identified, measured, monitored, and controlled in accordance with risk and compliance policies and procedures.

What you have:

• Bachelor’s degree OR 4 years of related experience (in addition to the minimum years of experience required) may be substituted in lieu of degree. (Total of 6 years of experience without bachelor’s degree)

• 2 years relevant actuarial, business or analytical experience.

• Attainment of Society of Actuaries Associateship OR completed all requirements for attainment of their ASA except for attending the Associateship Professionalism Course (APC).

• Experience in developing and delivering Innovative Actuarial Analyses/Processes leveraging programs such as Microsoft Excel, SAS, or other data analysis applications.

• Experience leveraging actuarial projections to gain insights and recommendations to address business challenges.

What sets you apart:

• US military experience through military service or a military spouse/domestic partner

• ASA (Fellow of the Society of Actuaries) designation

• Experience using Moody’s AXIS software

• Prior Actuarial experience with Life Insurance Annuity Products

• Fixed Index Annuity Experience

• Reinsurance Experience

• Understanding of LDTI and Statutory Reserving

Compensation range: The salary range for this position is: $93,770 - $179,240

USAA does not provide visa sponsorship for this role. Please do not apply for this role if at any time (now or in the future) you will need immigration support (i.e., H-1B, TN, STEM OPT Training Plans, etc.).

Compensation: USAA has an effective process for assessing market data and establishing ranges to ensure we remain competitive. You are paid within the salary range based on your experience and market data of the position. The actual salary for this role may vary by location.

Employees may be eligible for pay incentives based on overall corporate and individual performance and at the discretion of the USAA Board of Directors.

The above description reflects the details considered necessary to describe the principal functions of the job and should not be construed as a detailed description of all the work requirements that may be performed in the job.

Benefits: At USAA our employees enjoy best-in-class benefits to support their physical, financial, and emotional wellness. These benefits include comprehensive medical, dental and vision plans, 401(k), pension, life insurance, parental benefits, adoption assistance, paid time off program with paid holidays plus 16 paid volunteer hours, and various wellness programs. Additionally, our career path planning and continuing education assists employees with their professional goals.

For more details on our outstanding benefits, visit our benefits page on USAAjobs.com.

Applications for this position are accepted on an ongoing basis, this posting will remain open until the position is filled. Thus, interested candidates are encouraged to apply the same day they view this posting.

USAA is an Equal Opportunity Employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or status as a protected veteran.