Assistant Director & Actuary - Retirement Benefits

About the Job: Provides professional actuarial advice, analysis, and services in support of the company’s retirement benefit programs offered to its employees and financial advisors, including defined benefit pension plans and other postretirement benefit programs. Perform actuarial work required to advise on matters related to assumption development, committee materials, actuarial valuations, forecasting, plan design, nondiscrimination testing and ongoing oversight of retirement benefit obligations. The role will also support at least one other area in the broader actuarial department based on business needs. The Actuarial Department develops appropriate premiums, dividends, reserves, and surplus requirements by analyzing mortality, morbidity, persistency, investment and expense experience, striving to maintain equity and consistency among all policy owner underwriting classes, while safeguarding the Company's long term financial strength. Additional responsibilities may include work related to product pricing, dividend setting, reserve levels, mortality/morbidity issues, and field compensation. Strive to keep current on actuarial techniques, and on laws and regulations pertinent to your area of expertise; provide guidance to others within your assigned field of expertise.Primary Duties and ResponsibilitiesThis position offers the opportunity to leverage expertise in employer-sponsored retirement programs while also gaining exposure to broader actuarial disciplines within a large mutual insurance company.Retirement Benefits Actuarial SupportSupport the current Senior Director and signing Enrolled Actuary in providing actuarial advice and services related to the Company’s retirement benefit programs for employees and financial advisors.Prepare, review, and explain actuarial valuation results, funded status information, expense projections, sensitivity testing, and other retirement program metrics.Assist in preparing and presenting materials for senior management, finance leadership, pension committees, auditors, and other internal stakeholders.Assist with recurring and ad hoc retirement benefit projects, including plan design analysis, risk management, funded status monitoring, cash flow projections, and experience analysis.Potential Other Actuarial SupportThe following areas are examples of other actuarial teams and work with which this candidate may immediately get involved. While each role has its own various duties and responsibilities, each would provide opportunities for candidates to stretch into new areas and fields of expertise based on interests and long-term development objectives.Product Pricing: This role includes new product design, pricing/dividend scale determination, and implementation of our life insurance, long term care, disability income, or annuity products. This role also entails analyzing and implementing changes for in force policies in response to emerging experience and evolving regulations, all while ensuring equity across all policyowners.Valuation: Perform Principle Based Reserve (PBR) calculations, analysis, and reporting. Investigate assumptions used; work with model development team to implement regulatory changes in modeled reserves; present results to senior management. As new products fall under a principle-based framework, work with team to develop new process and calculations.Modeling: Design enhancements or new features for Northwestern Mutual’s in-house models used for pricing, cashflow testing, reserving, and corporate projections while working closely with model users. This role offers candidates a variety of experiences with our product suite and company financials and a high degree of flexibility to direct which projects best suit their interests.What You'll Bring to the Role: Attainment of Enrolled Actuary designation (preferred), or active pursuit of the Enrolled Actuary credentialAttainment of Fellow of the Society of Actuaries (FSA) designation, or Associate of the Society of Actuaries (ASA) designation and active pursuit of FSA designation.A minimum of five years proven actuarial experience, with substantial actuarial experience in single employer defined benefit pension plansExperience with retiree medical benefit plansStrong communication skillsCompensation Range:Pay Range - Start:$130,800.00Pay Range - End:$196,200.00Geographic Specific Pay Structure:Structure 110:Structure 115:We believe in fairness and transparency. It’s why we share the salary range for most of our roles. However, final salaries are based on a number of factors, including the skills and experience of the candidate; the current market; location of the candidate; and other factors uncovered in the hiring process. The standard pay structure is listed but if you’re living in California, New York City or other eligible location, geographic specific pay structures, compensation and benefits could be applicable, click here to learn more.Grow your career with a best-in-class company that puts our clients' interests at the center of all we do. Get started now!Northwestern Mutual is an equal opportunity employer that welcomes talented individuals of all backgrounds. We are committed to creating and maintaining an environment in which each employee can contribute creative ideas, seek challenges, assume leadership and continue to focus on meeting and exceeding business and personal objectives.SummaryLocation: Milwaukee, WI CorporateType: