Actuarial Student

Actuarial Student

Put your analytical skills to work while building a rewarding actuarial career. As an Actuarial Student, you will support meaningful modeling projects, analyze data, validate results, and collaborate with experienced actuaries while continuing progress toward Society of Actuaries membership. Our student program includes on-the-job study time, raises, and bonuses based on exam progress. This role is a great opportunity for a motivated, meticulous, and analytical person to gain hands-on insurance industry experience and contribute to work that supports Modern Woodmen’s financial strength and member-focused mission.

Modern Woodmen of America is one of the nation’s largest fraternal benefit societies, with over $18 billion assets. Fraternals are unique membership organizations that pair the “member-owned” characteristic of a mutual insurance company with the “social mission” characteristic of a service organization. They unite individuals with common bonds, provide a variety of life insurance and investment products, and form one of the nation’s most effective volunteer networks.

Responsibilities:

• Become knowledgeable on actuarial modeling, valuation, and other actuarial financial reporting principles, including product and asset calculations.
• Implement new products and factor changes into modeling and valuation systems.
• Run models and valuation programs, prepare valuation summaries, and assist with static and dynamic model validation.
• Provide support for staff actuaries with asset modeling and other actuarial analysis.
• Prepare statistical, product and membership demographic reports.
• Coordinate model and valuation system changes and implement new or revised reports as needed.
• Audit and verify certificate rates, calculated values, administrative system values, and data involved in periodic statutory valuations.
• Assist staff actuaries in performing experience studies to help develop or update model assumptions and support product analysis.
• Provide analytic support for other departments as needed.
• Recommend improvements to model governance and control procedures.
• Support the functions performed by the Actuarial Services section.
• Meet exam and education progress requirements to maintain membership in the actuarial career program.

What we need:

• Bachelor’s or graduate degree with quantitative science emphasis. Actuarial science, mathematics, statistics, or other quantitative finance discipline preferred.
• Credit for two Society of Actuaries Associateship exams.
• Insurance industry internship or related experience is preferred.
• Demonstrated technical or organizational proficiency.
• Microsoft Office experience
• Demonstrated familiarity with quantitative analysis applications including database query language(s), programming language(s), actuarial modeling software, reserving systems, and other analytical tools.

What we offer:

• Pay: The annual pay for this position is $64,000.00-$70,000.00. The specific rate will depend on the successful candidate’s qualifications, prior experience and exam progress. Applicants must be legally authorized to work in the United States without the need for current or future employment-based sponsorship. We are unable to sponsor or take over sponsorship of employment visas at this time, nor can we guarantee future sponsorship.
• Work Arrangements: This is a full-time, hybrid salaried position: 37.5 hours per week (7.5 hours per day), Monday- Friday, with flexible start time between 7 a.m.-9 a.m. Hybrid positions work at least four days in office each week.  Employees beginning to work in a new hybrid role will be expected to work on-site (five days a week) during the initial training period, which may be up to one year. Hybrid work arrangements are subject to change at any time based on business needs.
• Stability: Modern Woodmen has been Modern Since 1883® and exists for our members. We make long-term decisions that provide stability for our employees, financial representatives, and members.
• Respect for personal time: We offer vacation, sick leave and 11 paid holidays. We value your time outside of work and offer careers that blend work and life well.
•  Professional growth: Benefit from our commitment to employee development which includes educational offerings to enhance your knowledge of our industry.
• Great culture: We build strong working relationships across our organization through collaborative work and volunteer opportunities.
• A beautiful office: Enjoy a beautiful view! Our home office, located in downtown Rock Island, IL, has a lovely plaza overlooking the Mississippi River.
• On-site Café: Our employees can purchase a variety of breakfast, lunch, and beverage options at Café 1883.
• A thriving local community: Not from the Quad Cities and hesitant to consider relocation? Give it some thought. The Quad Cities offers an idyllic Midwestern lifestyle along the mighty Mississippi and consistently ranks at the top of the list for quality of life and cost of living. It is home to more than our share of artists, festivals, and fun in every season.
• Exceptional benefits: Our comprehensive benefits package is designed to support your health and financial well-being. Benefits include:
  • Company-paid retirement plan
  • Matching 401(k) plan
  • Employee Impact Bonus
  • Medical, Dental and Prescription Drug Insurance. We pay 100% of employees’ health insurance premiums and 50% of employee dependents’ premiums.
  • Group term life insurance.
  • Long-term and short-term disability.
  • Voluntary benefits: vision, flexible savings accounts (FSA), accident insurance

Modern Woodmen is an equal opportunity employer. Modern Woodmen is committed to providing a respectful environment where each person’s diverse opinions, attitudes, attributes, and feelings are respected.