• Assistant Actuary

    Location US-OR-Portland
    Posted Date 4 months ago(6/6/2018 5:09 PM)
    # Positions
    Req #
  • Overview

    If you want to make a positive difference and stand out from the crowd, you’ll fit in at The Standard (www.standard.com). Through our retirement plans and insurance products and services, we help people achieve financial well-being and peace of mind. Come join us and share our passion for serving our customers in a positively different way.


    Acceptance to a position in this job family constitutes participation in the Actuarial Student Program at The Standard.  The mission of the Actuarial Student Program is to grow actuarial knowledge, business acumen and leadership skills in our Actuaries to enable the achievement of organizational goals.  Actuarial students are expected to progress through the levels of the job family based on academic/exam achievements and by developing their analytical skills, independent decision making, and effective communication and leadership skills. 


    Pricing/Underwriting: Develop and maintain pricing for premium rates and fees.  Analyze emerging profit as compared to pricing assumptions.  Perform specialized pricing/underwriting for large cases or unique blocks of business.  Set interest rate crediting policies and assumptions based on research and analysis. 


    Valuation:  Calculate reserves and liabilities in accordance with regulatory requirements and applicable actuarial and accounting standards.  Review and maintain actuarial assumptions relevant to area of practice (e.g. mortality, morbidity, valuation interest rates), adhering to actuarial and industry standards. Test the adequacy of reserves and formulate recommendations on reserve adequacy/methodology or liability funding requirements to management.


    Actuarial/Experience Studies; Financial Modeling/Asset Liability Management (ALM)/Risk Management:  Gather, analyze and develop strong understanding of profitability, growth, ALM requirements,  risk, customer retention, and expense trends, utilizing company,  industry and capital market data as necessary.  Create and maintain models used in the analysis of ALM, risk management, income projection and regulatory requirements.  Communicate findings to management and provide quantitative knowledge for business/investment/financial strategies.  


    Product Development:   Collaborate with sales, marketing and other functional areas on the financial soundness and feasibility of new products.  Research, design and implement new products or product enhancements.  Analyze new product profitability to achieve corporate/division income and growth goals. 


    Financial Reporting/Regulatory:  Prepare the actuarial portion of financial statements following GAAP, statutory or tax reporting principles.  Analyze financial results of the corporation/division and identify drivers of earnings trends.  Communicate financial information to management to assist and influence corporate/division financial strategies.  Research complex regulatory issues, determine applicability to situation, and design effective methods to implement required procedures and communicate with affected parties.


    Data Analysis/Information Systems:  Extract, analyze and prepare data for use in actuarial modeling. Analyze, interpret and present numerical data related to pricing, reserves and other actuarial analysis.   Run, maintain and understand actuarial software and applications.  Design, implement and maintain open-source code applications for use in the analysis of financial risks. 


    Cross Collaboration:  Communicate and collaborate with various departments across the organization to meet business needs.  Using data and analysis, provide strategic guidance in influencing management decision making. 


    Actuarial Exams:  Prepare for and pass actuarial exams and maintain continuing education requirements.


    Education/Experience:  Bachelor’s degree in mathematics, actuarial science, business or a related field preferred.  Six or more years experience in the actuarial field and  FSA designation required.   


    Analytical Skills:  Having broad actuarial, financial and industry expertise combined with unique product line knowledge, uses skills to contribute to the achievement of company goals.  Works on significant and complex issues where analysis of situations requires evaluation of quantitative, qualitative, forward looking and organizational factors.   


    Independence:  Acts independently to determine methods and procedures on new assignments.  Significant role as a resource/mentor to others in the actuarial career. Viewed as a key resource to the division and providing leadership in their key areas of responsibilities.  Strives to exceed customer needs.  Thinks innovatively, brings ideas to life, and seeks continuous improvement. 


    Influence:  Develops networks across the department/organization.  Serves as a lead on key projects and initiatives.  Exhibits effective communication and people skills in managing projects, working with stakeholders and resolving conflicts.  Subject matter expert with the ability to negotiate and influence management decision making.




    Standard Insurance Company, The Standard Life Insurance Company of New York, Standard Retirement Services, Inc., StanCorp Equities, Inc. and StanCorp Investment Advisers, Inc., marketed as The Standard, are Affirmative Action/Equal Opportunity employers. All qualified applicants will receive consideration for employment without regard to race, religion, color, sex, national origin, gender, sexual orientation, age, disability, or veteran status or any other condition protected by federal, state or local law. The Standard offers a drug and alcohol free work environment where possession, manufacture, transfer, offer, use of or being impaired by an illegal substance while on Standard property, or in other cases which the company believes might affect operations, safety or reputation of the company is prohibited. The Standard requires a criminal background investigation, drug test, employment, education and licensing verification as a condition of employment. All employees of The Standard must be bondable.


    For more information regarding your Equal Employment Opportunity applicant rights, click  here.


    Individuals with disabilities who need assistance or accommodation with the application process should contact HR Direct at 971-321-7871.  This number is only for the use of individuals with disabilities who need accommodation with the application process.  General inquiries about application status will not be addressed.


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