Overview
At Banner Life Insurance Company, we lead with heart and ambition. Every day, we transform purpose into progress, guided by our unwavering commitment to be better for our customers, clients, and communities, not just today but long-term as well. Our people are the driving force behind everything we achieve. Their passion, purpose, and pursuit of innovation empower us to deliver cutting-edge solutions that support those we serve, ensuring we are here for you, here for good and striving for better.
We’re a forward-thinking company energized by our work and how we show up for one another. Our culture is built on meaningful impact and genuine enjoyment, because we believe great work and great experiences should go hand in hand.
By offering career development opportunities, comprehensive benefits, and programs that support your wellbeing, we help you thrive personally and professionally. We are here for you, here for good and here for better.
In this role, you will be a member of the actuarial valuation team responsible for assisting in maintaining technology-driven actuarial processes used to produce, analyze, and review reserves and related financial information for Banner, William Penn, and all associated captive reinsurance entities. In addition to the maintenance and development of core reporting processes, you will recommend strategic solutions that impact the business unit results with an aim towards supporting team projects and improving valuation procedures. This will often involve participating in cross-functional projects and working closely with key stakeholders across the company.
Responsibilities
Essential Responsibilities
Valuation Process Maintenance
- Maintain processes implemented in the cloud. Leverage Azure and Databricks to maintain controlled valuation processes used for monthly reporting.
- Perform data transformation. Assist in maintaining and adjusting data to ensure actuarial data pipelines remain functional to support the monthly valuation process.
- Implement process changes and optimization. Support development of program backend changes in the valuation process to ensure flexibility and automation.
- Assist in code reviews and deployment of changes to actuarial processes into production environments using tools for version control (e.g. GIT).
Research & Implementation
- Use information technology and database solution business knowledge to advise the implementation of projects that support technological and accounting changes, including adoption of new valuation systems, regulations, guidelines, accounting methods, and technological solution updates.
- Collaborate with internal and external teams to ensure smooth continued valuation operations, including discussions with modeling, finance, audit, and IT departments to incorporate new items into downstream reporting processes.
- Proactively identify areas for process improvement (e.g., automation of procedures) and recommend and implement solutions to exploit the benefits of improvement opportunities.
Valuation Process & Reporting
- Support the team in producing monthly reserves according to Statutory and Tax accounting requirements and actuarial principles. Compile information for schedules and exhibits included in the Quarterly and Annual Statement. Process year-end valuation materials for Maryland and New York DOI.
- Assist in ensuring all monthly, quarterly, and annual closing deadlines are met by proactively monitoring valuation checklists and schedules, understanding process dependencies and coordinating across the valuation team.
- Support reinsurance solutions including captive insurance companies and surplus relief, in addition to traditional forms of reinsurance. Compile reinsurance financial reports and review settlements for all reinsurance entities.
Other Duties
- Promote company culture by demonstrating our core behavioral competencies: Collaborative, Purposeful and Straightforward
- Comply with relevant professional development requirements and guidelines
- Support additional projects as required
Qualifications
Education
- BS/BA in Actuarial Science, Information Systems, Computer Science, or related field
- Associate of the Society of Actuaries
Experience/Knowledge
- 5+ years of actuarial experience, life insurance and/or valuation preferred
- Minimum three years of experience in data and technology space with database administration and writing code for querying data using SQL, NoSQL, etc.
- Minimum one year of professional experience with programming languages such as Python, R, or Spark using version control / GIT. Python experience required
- Experience with implementing and maintaining modern data solutions within cloud architecture in either AWS or Azure ecosystem
Skills
- Ability to work independently and collaboratively
- Strong actuarial analytical skills and problem-solving capabilities
- Spreadsheet and database capabilities (Excel, SQL, Python), including programming and integrating with the cloud
- Ability to communicate with technical audiences of varying actuarial backgrounds
- Strong self-motivation and attention to detail
What’s in it for you?
The expected hiring compensation range for this position is $109,900 - $137,400 annually. This is a remote opportunity, operating on EST. Candidates local to the Frederick, Maryland area preferred.
The total compensation package for this position may include other elements, such as a sign-on bonus, long term incentives, and annual bonuses. This role is eligible to participate in the Annual Incentive Plan. The current target payment for the position is 20% of base salary, modified for corporate and individual performance. Bonuses are pro-rated based on start date. This role has 20 vacation days and 10 sick days that are accrued on a bi-weekly basis. Employees also have 9 paid holidays throughout the calendar year.
We have a competitive compensation and benefits package focused on your overall wellbeing. Employee benefits include health, life, and dental insurance; 401K with company match up to 6% as well as a pension package; generous time off; and wellbeing initiatives throughout the year (we like doing fun stuff). We’re big on professional development and we’ll support and mentor you in your career progression and expect you to help us pay it forward by helping us develop tomorrow's leaders and growth-focused professionals. We value our teams and our communities and believe in giving back. Enjoy time off to volunteer for those causes that matter most to you!
If hired, employee will be in an “at-will position” and the Company reserves the right to modify base salary (as well as any other discretionary payment or compensation program) at any time, including for reasons related to individual performance, Company or individual department/team performance, and market factors. The Company reserves the right to change benefits plans at any time.
We are an equal opportunity employer and value diversity at our company. We do not discriminate based on race, religion, color, national origin, sex, gender, gender expression, sexual orientation, age, marital status, veteran status, or disability status. We will ensure that individuals with disabilities are provided reasonable accommodation to participate in the job application or interview process, perform essential job functions, and receive other benefits and privileges of employment. Please contact us to request accommodation.
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