Minor Hotels Europe and Americas

Product Development Associate, Actuary – IUL

Minor Hotels Europe and Americas

full-time

Posted on:

Location Type: Office

Location: Minneapolis • Minnesota • United States

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Salary

💰 $100,000 - $200,000 per year

About the role

  • 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

  • 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
  • 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.
Applicant Tracking System Keywords

Tip: use these terms in your resume and cover letter to boost ATS matches.

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)