What are the responsibilities and job description for the Senior Actuarial Analyst I position at Citizens, Inc.?
Committed to providing life insurance solutions since 1969 in the United States and globally since 1975, Citizens, Inc. is a publicly traded company (NYSE: CIA) that has maintained a listing on the New York Stock Exchange since 2002. Operating through our insurance subsidiaries, we strategically offer traditional insurance products in niche markets to capitalize on competitive advantages. With a dedicated team of employees located in Austin, Louisiana and a global network of agents, our reach extends to Latin America, Central America, and Asia.
THE OPPORTUNITY
Title: Senior Actuarial Analyst I
Job Type: Full-time Exempt
Location: Austin, TX (Corporate Headquarters located in the Domain)
At Citizens, Inc., we've curated an exceptional work environment that goes beyond the ordinary. Our open-plan workspace offers panoramic views of the Domain with multiple conference rooms readily available. Start your day with complimentary coffee in our large break area, enjoy walks on the scenic trails nearby, or hit our onsite gym. Our Lunch Drop service provides the luxury of delivering delicious meals directly to our suite for a stress-free lunch break. For financial needs, the onsite bank is at your service. Furthermore, enjoy the convenience of free covered parking in our garage, featuring charging stations for electric vehicles. Participate in our various monthly employee events designed to enhance our cultural engagement. At Citizens Inc., we prioritize strong employee involvement to foster a dynamic workplace culture. Elevate your career with us, where your workplace is more than just an office; it's a destination for growth, innovation, and a flourishing community.
Summary: The Senior Actuarial Analyst I works under moderate supervision and applies actuarial knowledge and developing experience to support key actuarial initiatives. This role contributes to projects of moderate technical complexity, assisting with modeling, analysis, reporting, and actuarial studies across product development, financial reporting, and regulatory compliance. The position requires strong analytical skills and proficiency in data manipulation, spreadsheet tools and actuarial modeling platforms. To support continued career progression, maintaining eligibility in the Actuarial Student Program and ongoing work toward attaining Fellowship is expected.
WHAT YOU WILL GET TO DO
Core Responsibilities
- Contributes to department projects, including product development, modeling, regulatory compliance, and modernization initiatives.
- Supports actuarial analyses used in the development and maintenance of actuarial models and assists in forming recommendations on reserving, pricing strategies or risk assessment.
- Assists with actuarial studies, experience analysis and product development initiatives.
- Performs other duties as assigned.
Product Development & Modeling
- Assists in identifying opportunities to improve efficiency through automation and expanded modeling capabilities.
- Supports periodic experience studies and annual assumption updates, including implementation and audit of changes within actuarial models.
- Assists with maintaining actuarial model documentation and complying with model risk management standards, including testing and validation activities.
- Follows internal control procedures and documentation standards to support audit and review processes.
Financial Reporting & Compliance
- Compiles, consolidates, and analyzes actuarial data to produce financial reports in compliance with Generally Accepted Accounting Principles (GAAP) and Statutory Accounting Principles (SAP).
- Assists in analyzing emerging policy and claim experience, identifying the key drivers of variances, escalating insights to senior team members.
- Supports reviews of reserves and non-forfeiture values for new and existing products.
Collaboration & Development
- Collaborates with actuarial and cross-functional teams to support accurate application of actuarial methodologies.
- Participates in knowledge sharing, peer review, and ongoing technical development within the actuarial team.
- Communicates actuarial results and assumptions clearly to both technical and non-technical audiences with guidance.
WHAT YOU NEED TO SUCCEED [Qualifications; see examples below]
- Bachelor's degree or equivalent in Actuarial Science, Mathematics, Statistics, or a related discipline
- Minimum of 2 years of relevant Actuarial experience; preferably in life insurance
- Background in modeling, programming, or quantitative analysis; experience with GGY AXIS is a plus.
- Strong written and verbal communication skills.
- Ability to prioritize and execute tasks effectively in a fast-paced environment.
- Minimum of 3 actuarial exams on the path towards an Associate of the Society of Actuaries (ASA) designation (may have completed Associateship)
- Ability to work Monday-Friday, 8AM – 5PM with occasional flexible and longer hours.
BENEFITS (the fun stuff)
As an employee of Citizens, we promise you the opportunity to make a meaningful difference in the lives of our customers, communities, and one another. We believe in fostering a culture of camaraderie, where your ideas are valued, and collaborative efforts drive innovation. Our commitment to rewarding work extends beyond professional growth to recognize your individual contributions and achievements.
We take a complete approach to our employees' well-being. Our benefits package includes medical, dental, vision, short-term and long-term disability, AD&D, group term life insurance, and a matching 401k to secure your financial future. Our benefits plan allows for Virtual Visits and access to our Employee Assistance Program, showcasing our commitment to your health and work-life balance. Enjoy the added perks of generous Paid Time Off and holidays, ensuring you have the time to recharge and savor life outside of work. Join us and embrace a workplace that values not only your professional growth but also your personal fulfillment.
At Citizens, our employees and customers are at the heart of everything we do. Our success as a company begins with our team of employees and departments to service our customers. That's why we strive to create an environment where employees are equipped and challenged to reach their full potential.
Citizens is an equal opportunity employer. We do not discriminate on the basis of race, color, religion, sex, gender identity, national origin, age, disability, or veteran status. We are committed to fostering a diverse and inclusive workplace where every individual is valued, and all qualified applicants are encouraged to apply.