Assistant Actuary

Step into a role where analytical curiosity meets meaningful impact. As an Assistant Actuary, you’ll shape the future of our products—building actuarial models in Excel and Integrate (MG-ALFA), validating the accuracy of administrative and illustration systems, and partnering with other departments on product design and implementation. You’ll bring product designs to life and support the determination of crediting rates and dividends. You’ll be a go‑to expert for actuarial insight and ensuring product calculations are accurate.

Modern Woodmen of America is one of the nation’s largest fraternal benefit societies, with over $18 billion in 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:

• Develop actuarial models for pricing new products.
• Research industry best practices to support product design.
• Research legislation and regulatory requirements impacting product development and enforce management.
• Actively participate in the development of contract language and material related product filing.
• Model actuarial processes in Excel, including large applications like testing tools and calculation engines.
• Perform modeling and analysis for illustration actuary certifications.
• Maintain processes for crediting rate and dividend recommendations.
• Support processes to ensure accuracy of illustration software.
• Provide support to IT and vendor(s) for actuarial related questions and computations.

What we need:

• Bachelor’s degree in Actuarial Science, Mathematics or related field.
• Associate of the Society of Actuaries (ASA) designation required.
• Minimum of three years of relevant actuarial experience.
• Strong analytical, problem-solving, and organizational skills.
• Proficiency with Microsoft Excel and experience using Integrate (MG-ALFA) modeling software.
• Clear and effective written and verbal communication skills.

What we offer:

• Pay: The annual pay range for this position is $82,000 - $100,000. The specific rate will depend on the successful candidate’s qualifications and prior experience.
• 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.  New employees beginning to work in a hybrid role will be expected to work on-site for the first 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.