Fidelity Investments Life Insurance (FILI) is looking for an Associate Actuary to help drive our future state annuity and life insurance experience. Be part of a diverse team that builds, promotes, and supports Fidelity’s outstanding future state experience.
The Purpose of your Role
This position supports annuity and life insurance product development, pricing, experience monitoring, systems and design integration and implementation, and reinsurance for Fidelity Investments Insurance and Annuity Group. This role also contributes to sales, marketing, and training efforts, the preparation of regulatory filings, and other areas of the organization with insurance product knowledge and technical expertise.
Product Development, Pricing and Implementation
Lead the design and pricing of annuity products. Conduct cost/benefit analysis, sensitivity analysis and industry comparisons. Play a key role in system specifications, implementing new products and systems testing. Participate with associates from other business functions, such as marketing, distribution, systems, quality assurance, learning and communications, finance and client services to build an outstanding offering.
Participate in reinsurance discussions and related risk management exercises.
Marketing, Sales and Training Support
Review product related materials and help develop the online digital experience. Develop sophisticated tools for product analysis and evaluation for use by clients. Help key constituents understand products.
State Regulatory Filings & Compliance
Work closely with the State Filing team and lead the actuarial components of new product filings or improvements with the states for review and approval. Prepare actuarial memorandums, demonstrations and respond to state requests. Implement regulatory requirements that require product calculations.
Develop models to evaluate capital considerations and initiative profitability. Model product design changes for constantly evolving market. Develop models that will allow clients to assess product value.
Investment Lineup Evaluation
Assess investment option lineup. Recommend new additions and improvements. Work with investment product management and external providers to update.
Develop and analyze product experience including lapses, withdrawals, mortality, and expenses to identify trends and benchmark against pricing assumptions. Provide information pertaining to recent initiatives and current products to senior management on a periodic basis. Use this analysis to identify risks, update pricing assumptions and product design.
Lead actuarial effort for systems conversion projects, providing life insurance expertise to project team by providing requirements, consulting, and testing.
The Expertise (We’re Looking For)
- BS in Actuarial Science, Mathematics, Finance or Physics
- 10+ years of proven insurance experience
- Fellow in the Society of Actuaries
- Member of the American Academy of Actuaries
- Broad based insurance background including exposure to distribution, marketing, systems, client services, and finance with a clear understanding of the interactions between these areas.
- Strong communication skills, including the ability to explain sophisticated topics to non-technical people at all organizational levels
How Your Work Impacts the Organization
Fidelity Investments Life Insurance Company (FILI) 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.
At Fidelity, we are passionate about making our financial expertise broadly accessible and effective in helping people live the lives they want. We are a privately held company that places a high degree of value in crafting and nurturing a work environment that attracts the best talent and reflects our dedication to our associates. For information about working at Fidelity, visit FidelityCareers.com
Fidelity Investments is an equal opportunity employer.
Fidelity will reasonably accommodate associates with disabilities who need adjustments to participate in the application or interview process, or to perform the essential functions of their job.
At Fidelity Investments, our customers are at the heart of everything we do. As a privately held company with a rich 75-year history, our mission has remained the same since our founding: to strengthen the financial well-being of our clients. We help people invest and plan for their future. We assist companies and non-profit organizations in delivering benefits to their employees. And we provide institutions and independent advisors with investment and technology solutions to help invest their own clients’ money.
At Fidelity, you’ll find endless opportunities to build a meaningful career that positively impacts peoples’ lives, including yours. You can take advantage of flexible benefits that support you through every stage of your career, empowering you to thrive at work and at home. And you don’t need a finance background to succeed at Fidelity—we offer a range of opportunities for learning and growth so you can build the career you’ve always imagined. We welcome associates from different backgrounds and with different perspectives to help us innovate and make a difference for our customers and our communities.
We invite you to Find Your Fidelity at fidelitycareers.com.
Fidelity Investments is an equal opportunity employer. We believe that the most effective way to attract, develop and retain a diverse workforce is to build an enduring culture of inclusion and belonging.
Fidelity will reasonably accommodate applicants with disabilities who need adjustments to participate in the application or interview process. To initiate a request for an accommodation, contact the HR Leave of Absence/Accommodation Team by sending an email to accommodations @fmr.com, or by calling 800-835-5099, prompt 2, option 2.