Associate Actuary

Job Description:

Associate Actuary

Fidelity Investments Life Insurance Company (FILI) is looking for an Associate Actuary to help drive our future state of reserve modeling and valuation for our life and annuity products. Be part of a team with wide-ranging strengths that builds, promotes, and supports Fidelity’s outstanding future state experience!

The Role

As Associate Actuary, you support reserve valuation for all products focusing on the development, enhancement, and governance of actuarial models used for determining reserves, Risk Based Capital and assessment of reserve adequacy for this business. You also provide in-depth analysis to support annual certifications of reserves and reserve adequacy. 

• Model actuarial values including principle-based reserves (PBR), and ensure compliance of reserves with applicable regulations and Actuarial Standards of Practice

• Research, understand, implement statutory and GAAP reserving requirements for newly developed products.

• Monitor regulatory developments affecting reserves and other actuarial items.

• Develop analysis and documentation needed to complete annual regulatory filings, including Statements of Actuarial Opinion, Asset Adequacy analysis memos, PBR reports and related documents

• Respond to company auditor and state examiner questions based on periodic audits

• Assist with the design, implementation, and documentation of Prophet models, identifying opportunities to enhance model efficiency

The Expertise and Skills You Bring

• Fellow of the Society of Actuaries (SOA) or experienced Associate of the Society of Actuaries

• 10+ years of actuarial experience, with demonstrated competency in the specific responsibilities for this position

• Solid knowledge of individual annuity and life insurance products

• Prior experience working in Prophet is preferred, prior experience with another modeling software package such as AXIS or MG-ALFA may be considered

• Conforms to SOA Continuing Professional Development requirements – general qualifications

• Strong interpersonal skills, including the ability to help key constituents understand valuation issues and explain sophisticated topics to non-technical people at all organizational levels

Note: Fidelity is not providing immigration sponsorship for this position.

The Team

Fidelity Investments Life Insurance Company provides financial products that help Fidelity’s investors achieve lifetime financial goals. Having our annuity and life insurance solutions as options is a strategic advantage for Personal Investing. Our products help ensure our clients do not outlive their assets in retirement, safeguard one’s portfolio from market volatility and protect against premature death and unforeseen long-term care costs.

Placement in the range will vary based on job responsibilities and scope, geographic location, candidate’s relevant experience, and other factors.

Base salary is only part of the total compensation package. Depending on the position and eligibility requirements, the offer package may also include bonus or other variable compensation.   

We offer a wide range of benefits to meet your evolving needs and help you live your best life at work and at home.  These benefits include comprehensive health care coverage and emotional well-being support, market-leading retirement, generous paid time off and parental leave, charitable giving employee match program, and educational assistance including student loan repayment, tuition reimbursement, and learning resources to develop your career.  Note, the application window closes when the position is filled or unposted.

Please be advised that Fidelity’s business is governed by the provisions of the Securities Exchange Act of 1934, the Investment Advisers Act of 1940, the Investment Company Act of 1940, ERISA, numerous state laws governing securities, investment and retirement-related financial activities and the rules and regulations of numerous self-regulatory organizations, including FINRA, among others. Those laws and regulations may restrict Fidelity from hiring and/or associating with individuals with certain Criminal Histories.

Most roles at Fidelity are Hybrid, requiring associates to work onsite every other week (all business days, M-F) in a Fidelity office. This does not apply to Remote or fully Onsite roles.

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