Actuarial Associate

The Knights of Columbus is a tax-exempt Catholic fraternal benefit society that provides financial security to members and their families through our life insurance, long-term care insurance, disability income insurance, investment and annuity products. Charity is at the core of our missions: our profits are donated to help those in need and to support our faith - $1.73B over the past ten years.

While we have many employees who are not Catholic, we follow the Church’s teachings in our investment strategies and our employee benefits. As part of our religious mission, we support the pro-life cause by contributing to the March for Life and pregnancy resource centers, we oppose assisted suicide and euthanasia, we are evangelists for the Catholic faith, and we help Christians who are facing religious persecution in the Middle East. We all work together to support our two million members as they volunteer to help others in their parishes and communities around the world.

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Overview

NOTE: THIS DESCRIPTION APPLIES TO BOTH EXAM-TRACK AND NON-EXAM TRACK. Assists with a variety of actuarial tasks including financial reporting (quarterly and annual statements), experience studies (i.e., mortality, lapse, etc.), product development, policy illustrations and various policy values calculations (i.e., cash values, reserves, dividends and premiums). This position is subject to the provisions outlined in the “Actuarial Student Program Manual” for employees in an Exam-Track position. This position is expected to take a more proactive leadership role in projects than the Actuarial Assistant position.

Core Responsibilities

• Annuity and AandH/ Long Term Care statutory and IFRS valuation (including formula reserves, first principles reserving and cash flow testing. Long Term Care or Annuity statutory valuation experience is a plus.
• Assists with Life insurance quarterly and annual valuation.
• Uses modeling software to assess risk and provide management information in support of product development, valuation, and ALM efforts.
• Performs actuarial research, audits, experience studies, statistical analysis and calculations. Provides support to policyholders, including answering questions and relaying information. Directs or provides manual calculation support to the administrative system.
• IF ON EXAM TRACK: prepares and sits for actuarial exams. Passes exams to meet minimum Program requirements for exam progress.

• Actuarial software experience, especially AXIS Actuarial modeling system preferred Knowledge of insurance industry
• Good math skills
• Ability to quickly learn new concepts and apply that knowledge to solve problems
• Strong communication skills and business judgment

Required:

• BA or BS degree in Mathematics, Statistics, Economics or Actuarial Science
• At least one actuarial exam Preferred:
• 2+ years of related responsible actuarial and insurance industry experience or equivalent combination of training and experience preferred. LTC experience is helpful but not required
• ASA preferred

The wage range for this role takes into account a broad array of factors that are considered in making compensation decisions, including but not limited to: skill sets; experience and training; licensure and certifications; and other business and organizational needs. The range below applies as long as the work is performed in Connecticut; the Knights of Columbus reserves the right to adjust the wage range if the position is performed in another location. At the Knights of Columbus, it is not typical for an individual to be hired at or near the top of the range for their role, and compensation decisions are dependent on the facts and circumstances of each case. A reasonable estimate of the current range is $106,000-$180,000.

Physical Demands

Must be able to remain in a stationary position for a majority of the workday.

Authorization To Work In The United States Is Required

This position is not eligible for visa sponsorship.

KofC Cares

Our mission is focused on family and faith, and we support our employees in seeking a balanced life.

Employee benefits include:

Time Away: 13 paid holidays per year in addition to vacation and paid sick leave, and flexible workweek schedules.

Professional Development: Certifications, designation, and tuition reimbursement.

Retirement Benefits: 401(k) retirement savings plan with matching company contributions, and cash balance retirement plans fully funded by the company.

Health and Wellness:

• Short-term disability and term life insurance fully paid for by the company;
• Up to 12 weeks of childbirth leave under STD policy.
• One week of fully paid parental leave for all new parents, including adoptive and foster parents.
• A variety of health insurance options, including premium-level family coverage and a pre-tax Health Savings Account with employer contributions. The Order's health plans do not cover abortion, sterilization, or contraception, and the Order has helped advocate for other employers who do not want to provide coverage.
• Long-term disability insurance;
• Dental insurance;
• Vision insurance;
• Health club membership reimbursement;
• Employee Assistance Program