Product Development Associate, Actuary – IUL

Minor Hotels Europe and Americas

Actuarial role in product development, pricing, and strategic direction for IUL products at Allianz Life. Requires extensive experience and collaboration across functions for compliance and competitiveness.

Posted 4/20/2026full-timeMinneapolis • Minnesota • 🇺🇸 United StatesJuniorMid-Level💰 $100,000 - $200,000 per yearWebsite

About the role

Key responsibilities & impact

Design and refine IUL products, including index crediting strategies, cap/participation structures, multipliers, fixed account design, riders, and survivorship variations
Build, enhance, and validate pricing models using advanced actuarial techniques, ensuring accurate representation of product behavior
Set and maintain assumptions for mortality, persistency, expenses, funding patterns, rider use, and index crediting performance
Develop pricing strategies that balance regulatory expectations, risk management considerations, and competitive market needs
Incorporate requirements related to Standard Nonforfeiture Law (SNFL), Sections 7702 and AG 49 into product and pricing models, ensuring compliant and sustainable design parameters
Conduct sensitivity testing, scenario modeling, and profitability analysis to evaluate product levers and support product positioning
Collaborate with Investments to assess the feasibility and sustainability of index strategies, including option‑budget and hedging considerations
Collaborate with Underwriting and Reinsurers to assess effectiveness and impacts of our underwriting practices
Monitor IUL market trends to guide product mix strategy, identify innovation opportunities, and ensure products stay competitive
Partner with Product, Distribution, and Marketing to align product designs with customer needs and sales strategies
Mentor actuarial staff on modeling, pricing frameworks, and IUL concepts.
Utilization of artificial intelligence tools and resources (e.g. generative AI)

Requirements

What you’ll need

8+ years actuarial experience with background in life product development, including IUL
Four-year degree required in Actuarial Science, Mathematics, Physics, Economics, Engineering, or related field
Fellowship in the Society of Actuaries (FSA)
Expertise with actuarial modeling platforms and pricing methodologies
Experience applying SNFL, 7702, and AG 49 requirements within product design, modeling, and pricing frameworks
Experience with underwriting program analysis and assessing impacts to mortality trends
Ability to work both independently and collaboratively, ensuring long‑term project success across cross‑functional teams
You must be legally authorized to work in the U.S. without requiring immigration sponsorship now or in the future.

Benefits

Comp & perks

a choice of comprehensive medical, dental and vision plan options
flexible spending and health savings accounts
tuition reimbursement
student loan retirement program
generous annual paid leave
an outstanding 401(k) company match
life insurance
an award-winning campus with an array of discounted amenities, including an onsite health center, child development center, fitness facility, convenience store and two cafeterias.

ATS Keywords

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Applicant Tracking System Keywords

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Hard Skills & Tools

actuarial techniquespricing modelsmortality assumptionspersistency assumptionssensitivity testingscenario modelingprofitability analysisindex crediting strategiesrisk managementproduct development

Soft Skills

collaborationmentoringindependent workcross-functional teamworkcommunication

Certifications

Fellowship in the Society of Actuaries (FSA)