Actuarial Intern
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Job Description
About Transamerica
Transamerica is a leading provider of life insurance, retirement, and investment solutions, serving millions of customers in the United States. With over 100 years of experience, they are dedicated to making financial services accessible to everyone.
Their mission is to help people live their best lives through saving, investing, and protecting their loved ones. Transamerica focuses on offering:
• Individual life insurance policies
• Workplace supplemental insurance benefits
• Workplace retirement plans
• Individual retirement accounts
• Investment products including mutual funds, annuities, stable value solutions, as well as investment management services.
Transamerica is a part of Aegon, an international financial services group with over 21,500 employees and 31.7 million customers.
Job Description – Actuarial Internship
Transamerica offers short-term internship opportunities for college students in the Actuarial function. This program allows students to gain practical experience in the field, explore career paths, and observe the professional work environment.
Typical assignments include:
• Introduction to the business
• Product development
• Financial reporting
• Risk management
Specific projects may involve:
• 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 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
• Conversion of existing actuarial systems to new platforms
• Automating processes by writing programs or macros
Qualifications:
• Freshmen, Sophomores, and Juniors enrolled as full-time students are encouraged to apply.
• Major in Actuarial Science, Mathematics, or Statistics is preferred.
• Passing at least one SOA exam by the time of the internship is desirable.
• Strong mathematical skills, analytical skills, initiative, and attention to detail are essential.
• Strong written and oral communication skills are required.
• Ability to work in a team environment is crucial.
• Knowledge of MS Excel or other spreadsheet applications is necessary.
• Knowledge of at least one computer programming language and/or Visual Basic is preferred.
• Knowledge of R, Python, or similar database applications is a plus.
• Familiarity with MS Access or other database applications is preferred.
• Previous or current leadership experience is desirable.
Working Conditions:
• Hybrid and/or remote environment may be available.
Compensation:
• hourly wage generally ranges between $23 – $28 per hour.
• This range is an estimate and may vary based on qualifications and operational needs.
Please note: This job description is not a contract of employment. The company may change, add to, remove, or revoke the terms of this job description at its discretion.
