Assistant Actuary at Northwestern Mutual

Milwaukee, Wisconsin, United States

Northwestern Mutual Logo
$92,750 – $172,250Compensation
Mid-level (3 to 4 years), Senior (5 to 8 years)Experience Level
Full TimeJob Type
UnknownVisa
Insurance, Financial ServicesIndustries

Requirements

  • Undergraduate degree in Actuarial Science, Mathematics, Finance, or related field
  • Attainment of Associate of the Society of Actuaries (ASA) designation at a minimum
  • Most candidates will have made progress toward attaining the Fellowship (FSA) designation
  • A minimum of three years of actuarial experience
  • Skilled in using software tools that are used for mathematical and/or financial modeling and analysis
  • Strong communication skills
  • A strong understanding of the actuarial aspects of NM product lines
  • A good grasp of risk management issues tied to our products and finances
  • Experience in multiple actuarial disciplines (e.g. pricing, modeling, valuation), typically attained through rotational assignments is preferred

Responsibilities

  • Investigate and analyze technical issues of an actuarial nature
  • Assess risk by determining the impact and the financial benefit of varied options
  • Provide actuarial consultation to internal clients
  • Carry out in-depth analysis of a wide variety of business issues, including development of complex actuarial models, pricing insurance product lines, forecasting future financial circumstances, analyzing product experience, assessing regulatory issues, consulting on product or other risk management issues, or providing significant assistance on corporate projects

Skills

Key technologies and capabilities for this role

Actuarial ModelingInsurance PricingFinancial ForecastingRisk AssessmentProduct ValuationRegulatory AnalysisMathematical ModelingFinancial AnalysisSOA ASAFSA ProgressRisk Management

Questions & Answers

Common questions about this position

What is the salary range for the Assistant Actuary position?

The pay range starts at $92,750 and ends at $172,250, with geographic specific structures such as $102,060 - $189,540 for Structure 110 and $106,680 - $198,120 for Structure 115. Final salaries depend on factors like skills, experience, market, and location.

Is this a remote role or does it require office work?

This is a hybrid role based in Milwaukee.

What qualifications and skills are required for this position?

Candidates need an undergraduate degree in Actuarial Science, Mathematics, Finance, or related field, ASA designation minimum (progress toward FSA preferred), at least three years of actuarial experience, skills in mathematical/financial modeling software, strong communication skills, understanding of NM product lines, and risk management knowledge. Experience in multiple actuarial disciplines like pricing, modeling, and valuation is preferred.

What is the company culture like at Northwestern Mutual?

Northwestern Mutual is committed to creating an environment where employees can contribute creative ideas, seek challenges, assume leadership, and focus on meeting business and personal objectives, while putting clients' interests at the center.

What makes a strong candidate for this Assistant Actuary role?

Strong candidates will have the ASA designation with progress toward FSA, at least three years of actuarial experience preferably in multiple disciplines via rotations, proficiency in modeling software, strong communication skills, and deep knowledge of NM products and risk management.

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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