Actuarial Products Specialist at Northwestern Mutual

Milwaukee, Wisconsin, United States

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Not SpecifiedCompensation

Entry Level & New GradExperience Level

Full TimeJob Type

UnknownVisa

Insurance, Financial ServicesIndustries

Requirements

Bachelor's degree with an emphasis in Mathematics, Actuarial Science, Computer Science, MIS, Business or related field, including upper-level mathematics coursework
Minimum of 1 year of relevant job experience
Ability to program complex actuarial formulas in Excel (knowledge of macros and/or VBA is helpful, but not required)
Strong written and verbal communication skills to explain and document complex, technical calculations for multiple business and systems personnel
Ability to work independently and as part of a team
Ability to develop and maintain strong working relationships with team members, other teams in the Actuarial Department, and teams throughout the company at various job levels

Responsibilities

Develop policy/contract value calculation specifications for various systems throughout the company
Identify and resolve policy/contract value calculation defects in various systems throughout the company
Provide input during the requirements gathering/documentation process for the company’s risk products and supporting systems
Provide information related to specific risk product features and calculations to various business and system areas throughout the company
Support ad-hoc requests for policy/contract value calculations from various business areas throughout the company
Perform ongoing maintenance activities to ensure policies/contracts continue to produce correct values over time
Support efforts of the Actuarial Department to ensure actuarial design and pricing of risk products is accurately reflected in policy/contract values produced by company systems
Serve as a resource on risk product features and calculations for various business and system areas throughout the company

Skills

Excel

VBA

Actuarial Science

Mathematics

Policy Calculation

Technical Documentation

Communication

Northwestern Mutual

Provides financial security services, and wealth management

About Northwestern Mutual

Northwestern Mutual offers personalized financial planning, life insurance, and investment services, leveraging leading-edge technology to manage over $125 billion in client assets for more than 4.5 million clients.

Milwaukee, WisconsinHeadquarters

1856Year Founded

N/ACompany Stage

Consulting, Fintech, Financial ServicesIndustries

10,001+Employees

Benefits

Growing your Career

Compensation & Time Off

Insurance plans

Health Savings Account

Wellness programs & resources

401(k) plan and cash balance contributions

Risks

Fintech platforms like Carefull challenge traditional financial advisory services.

Internal competition may arise from Wellthi's focus on the Black community.

Customer dissatisfaction may grow due to increased retirement age expectations.

Differentiation

Northwestern Mutual maintains the highest financial strength ratings in the industry.

The company launched 'The Great Realization' campaign to refocus customer priorities.

Northwestern Mutual offers a unique Long-Term Advantage product with life insurance benefits.

Upsides

The aging population increases demand for retirement planning and long-term care solutions.

Partnerships with tech firms enhance Northwestern Mutual's data analytics capabilities.

Digital transformation in insurance leads to more personalized customer experiences.

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