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 throughout the United States. They are dedicated to building America’s leading middle market life insurance and retirement company, providing a broad range of quality individual life insurance policies, workplace supplemental insurance benefits, workplace retirement plans, individual retirement accounts, and investment products, including mutual funds, annuities, stable value solutions, as well as investment management services.
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).
Actuarial Internship Description
This internship provides college students with an opportunity to observe and participate in the professional work environment of Transamerica’s Actuarial function. The internship allows students to explore how their interests relate to possible careers in the actuarial field and gain practical experience.
Typical assignments in the Actuarial function include:
• Introduction to the business
• Product development
• Financial reporting
• Risk management
Potential projects for interns 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 for Actuarial Internship
Transamerica is looking for Freshmen, Sophomores, and Juniors enrolled as full-time students, ideally majoring in Actuarial Science, Mathematics, or Statistics.
Desired skills include:
• 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:
This internship may be a hybrid or remote environment.
