Actuarial Internship
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Job Description
About Transamerica
Transamerica is a leading provider of life insurance, retirement, and investment solutions, serving millions of customers throughout the United States. They have been in business for over 100 years and are committed to helping people live their best lives through saving, investing, and protecting their loved ones.
Transamerica’s Core Values:
• Hard work
• Innovative thinking
• Personal accountability
• Diversity and inclusion
• Employee well-being
Organization:
Transamerica is organized by lines of business (Life Insurance, Annuities, Mutual Funds, Retirement Plans, and Employee Benefits), which are supported by Transamerica Corporate (Corporate Development; Finance; Internal Audit; Legislative, Regulatory & Policy; Office of the CEO; People and Places; Brand; Corporate Affairs; Risk; and Technology).
Parent Company:
Transamerica is a part of Aegon, an integrated, diversified, international financial services group. Aegon companies employ over 21,500 people and have approximately 31.7 million customers.
Actuarial Internship
This internship provides college students with an opportunity to observe and participate in the professional work environment of Transamerica’s Actuarial function. The internship will allow them to explore their interests related to possible careers in the field and gain practical experience.
Typical Assignments:
• Introduction to the business
• Product development
• Financial reporting
• Risk management
Specific Projects May Include:
• Compiling data for experience analyses and preparing related reports.
• Assessing current and new product designs for feasibility in the marketplace.
• Translating product specifications into valuation assumptions for new products.
• Pricing of new and existing product designs to ensure that Division profit goals are met.
• Assisting in statutory, GAAP, and tax valuation and other miscellaneous reserving requirements.
• Assisting with quarterly ALM risk profiles, investment income budget, regulatory reserve adequacy testing and determination, and other actuarial valuation.
• Building and running computer asset/liability models using actuarial modeling software.
• Converting existing actuarial systems to new platforms.
• Automating processes by writing programs or macros.
Qualifications:
• Freshmen, Sophomores, and Juniors enrolled as full-time students, ideally majoring in Actuarial Science, Mathematics, or Statistics.
• Passed at least one SOA exam by the time of the internship.
• Strong mathematical skills, analytical skills, initiative, and attention to detail.
• Strong written and oral communication skills.
• Desire to work in a team environment.
• Knowledge of MS Excel or other spreadsheet applications.
• Knowledge of at least one computer programming language and/or Visual Basic.
• Knowledge of R, Python, or similar database applications.
• Familiarity with MS Access or other database applications is preferred.
• Previous or current leadership experience is preferred.
Working Conditions:
• Hybrid and/or remote environment
Compensation:
• The hourly wage for this position generally ranges between $23 – $28 per hour.
• Salary may vary above and below the stated amounts, as permitted by applicable law.
