Actuarial Associate

Business Unit: USFSJob Family: ActuarialDepartment Name: Economic Capital & Asset StrategyNo. of Openings: 1Full-Time or Part-Time: Full-TimeRelocation Assistance Offered? NoSalary: Salary Commensurate with ExperienceWhat is ING?
ING Insurance Americas is a vital part of worldwide ING Group, one of the largest diversified financial services organizations in the world with operations in more that 50 countries and 112,000 employees. We're a leading provider of financial products and services for individuals and businesses, including life insurance, annuities, mutual funds, retirement plans and employee benefits. ING recognizes the critical role our employees play in our success as a company...we understand the link between customer satisfaction and employee satisfaction. As a result, we're building a different work experience for our employees, an experience that appeals to what they value most in a work relationship.What are the job responsibilities?
Create efficient, integrated, robust and consistent projection models to support Economic capital, Market consistent evaluation, Economic value, pricing, cashflow testing, risk analysis, and ALM.Responsibilities Include:
Create stochastic Asset/Liability models for all of Retirement Services products including variable annuities with fixed and variable funds, new money rate fixed annuities, variable annuities with living benefits, and SPIA.
Ensure product features and dynamic behaviors are accurately modeled.
Analyze results of models for reasonableness, key drivers, interaction of assets and liabilities and understand effects of liability optionality.
Improve efficiency and accuracy of models.
Understand pricing models and how to apply assumptions and methodology to ALM models.
Ensure timely completion of quarterly and annual model runs to support economic capital, economic value, cashflow testing and GAAP adequacy.
Work with investment analyst to model assets and hedging strategies i.e. minimum guarantee hedging, understanding effects of the MBS derivative portfolio.
Customize actuarial projection system for business specific needs using C++ or applicable underlying programming languageWhat else can we tell you?
Our facility in Hartford, CT is conveniently located. There is easy access to public transportation and main highways with free general parking, full-service cafeterias, an on-site fitness facility, a company store, and much more. The site is a smoke-free environment and business casual attire is currently the standard.In addition to a competitive salary and bonus plan, we offer: Medical and dental coverage for employees, their spouses, children and domestic partners
Incentive Savings Plan (401K), with a dollar for dollar match for the first 6% of eligible pay, multiple investment options, and immediate eligibility. Paid Time Off (PTO) bank of days for employees to use for any reason; 20 days in first full year of employment, 23 days beginning in the fifth year of employment.
Pension Plan based on length of service and eligible pay; fully funded by ING, fully vested after 5 years. Health and dependent care spending accounts available. Company provided life insurance for employees; may purchase additional for self, spouses and children.
, Company holidays based on the NYSE calendar, jury duty, military leave, bereavement and community service time.
REQUIREMENTS
Who is our ideal candidate?
Associate of Society of Actuaries
Strong Programming skills e.g. C++, Visual Basic
Strong stochastic Asset/Liability modeling skills
Knowledgeable in an actuarial software package such as Tas9.5, Moses, ALFA, Prophet
Strong self starter that takes initiative
Intellectual curiosity
Detail oriented and strong analytical skills
Annuity or other relevant product background
Effective communication skills, presents ideas and data completely and clearly.
Creativity and problem solving