Financial and Insurance Risk Actuarial Assistant

Overview At Banner Life Insurance Company, we lead with heart and ambition. Every day, we transform purpose into progress, guided by our unwavering commitment to be better for our customers, clients, and communities, not just today but long‑term as well. Our people are the driving force behind everything we achieve. Their passion, purpose, and pursuit of innovation empower us to deliver cutting‑edge solutions that support those we serve, ensuring we are here for you, here for good and striving for better. The Financial and Insurance Risk Actuarial Specialist functions as a business partner to provide control expertise and engagement supervision to ensure adherence to the Company’s risk and control framework. The FAIR Actuarial Specialist will have primary responsibility for required reviews and validation of Financial Reporting and Models as part of the Second Line of Defense and Actuarial Inspection Office. Specifically, this position is focused on validating the Life Insurance Risk for required capital and insurance liabilities on the Economic Value Balance Sheet for JICS. The FAIR Actuarial Specialist is expected to identify, analyze, and interpret Financial and Insurance risk trends or patterns and present findings in an understandable manner. Responsibilities Validate the Life Insurance risk for required capital and insurance liabilities on the Economic Value Balance Sheet for JICS (Actuarial Inspection Office). Produce verification reports for JICS regulatory reporting. Provide second line review of routine Finance and Actuarial reporting and assist with reviews on key initiatives and developments. Perform Quality Assurance reviews as part of the Model governance process including financial and actuarial models and End User Computing (EUC) tools. Identify and partner with key stakeholders in Finance and Actuarial to support the identification, assessment, aggregation and overall management of risks and controls. Assist in the regular reporting of key risks, risk trends and risk management activities, particularly around JICS. Produce risk reports to help ensure financial and insurance risks are properly identified, assessed, monitored, controlled and reported. Promote sound risk management practices across the company by facilitating communications on risk identification, assessment, mitigation and controls. Provide assurance over first line financial and insurance risk attestations in the GRC tool (Workiva). Identify areas within financial and insurance risk that would benefit from formalized or improved business processes or controls, and provide recommendations, support, and guidance in the development and implementation of such processes or controls. Work with management to address any identified gaps and monitor the status of agreed‑upon action items through completion. Participate in cross‑functional business projects and provide control expertise / advice to ensure Financial Risk, Insurance Risk, and the Internal Control Framework are not compromised. Provide support for other risk projects as needed. Work independently on smaller scope projects or as a team member supporting larger projects that meet business needs and desired deliverables. Other duties as assigned. Qualifications Education – BS/BA in Math, Statistics, Accounting or related field; completion of 3 SOA exams. Experience / Knowledge – 2+ years of life insurance / actuarial experience; actuarial modeling / programming experience; experience with Term Life and Universal Life business preferred but not required; experience with Solvency II and/or Economic Capital frameworks preferred but not required; strong knowledge of risk management best practices, financial accounting standards and emerging industry practices. Skills – strong actuarial analytical skills and problem‑solving capabilities; strong actuarial software skills (e.g., GGY‑Axis, MG‑ALFA); programming software skills (e.g., VBA, R or similar); strong Microsoft Office (Word, Excel, PowerPoint, SharePoint) skills. Competencies – strong verbal and written communications; strong collaboration and teamwork skills; ability to think critically and independently, devote significant attention to details, and remain highly organized; ability to build trust with colleagues and teams across the organization, challenging positively. What’s in it for you? The expected hiring compensation range for this position is $68,900 – $94,800 annually. This is a hybrid opportunity working out of our Frederick, MD office. The total compensation package may include other elements such as a sign‑on bonus, long‑term incentives, and annual bonuses. The role is eligible to participate in the Annual Incentive Plan; the current target payment for the position is 8% of base salary, modified for corporate and individual performance. Bonuses are pro‑rated based on start date. The role has 15 vacation days and 10 sick days accrued on a bi‑weekly basis, and 9 paid holidays throughout the calendar year. Benefits include health, life, and dental insurance; 401(k) with company match up to 6%; pension package; generous time off; and wellbeing initiatives. Professional development and mentorship opportunities are available, along with support for volunteer initiatives. If hired, you will be in an “at‑will” position and the Company reserves the right to modify base salary and any other discretionary payment or compensation program at any time, including for reasons related to individual performance, company or individual department/team performance, and market factors. The Company also reserves the right to change benefits plans at any time. Equal Opportunity Employer We are an equal opportunity employer and value diversity. We do not discriminate based on race, religion, color, national origin, sex, gender, gender expression, sexual orientation, age, marital status, veteran status, or disability status. We will provide reasonable accommodation for individuals with disabilities during the application or interview process, essential job functions, and other employment benefits. Please contact us to request accommodation. #J-18808-Ljbffr Banner Life family of companies | life insurance