Job Description

Actuarial Modeling Associate

Company Overview

Midwest Holding LLC, a modern financial services organization, seeks a skilled Actuarial Modeling Associate.

Summary/Objective

This role focuses on actuarial model development, testing, and governance to support valuation, pricing, reinsurance and financial projections. The Actuarial Modeling Associate will work closely with the Lead Actuarial Modeler and the broader actuarial team to ensure a high-quality, well-documented, and efficient modeling framework.

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Essential Functions

Model Development & Transition:

• Assist in transforming actuarial models (MYGA, FIA, MYGIA) for all actuarial use cases (STAT, GAAP, CFT, Projections, Plan, Capital) from ALFA to GGY Axis.
• Support unit testing, aggregate testing, and back-testing to validate accuracy.
• Help refine model structure and clean up existing model logic for efficiency.
• Collaborate with IT and actuarial teams to integrate the model into a production environment.

Testing & Governance:

• Execute production environment testing in partnership with IT.
• Document model assumptions, methodology, and governance processes.
• Support model validation efforts, ensuring compliance with internal controls and regulatory standards.

Ongoing Model Maintenance:

• Assist in maintaining and updating actuarial models as new products, assumptions and methodologies evolve.
• Support automation and efficiency improvements in modeling and reporting.
• Work with valuation, pricing, reinsurance and financial reporting teams to ensure model outputs align with business needs.

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Qualifications

• Bachelor’s Degree in Actuarial Science, Mathematics, Statistics, or a related STEM field.
• Associate of the Society of Actuaries (ASA) designation or significant progress toward ASA.
• 4+ years of actuarial experience, preferably in annuities or life insurance.
• Familiarity with actuarial modeling software (e.g., GGY AXIS preferred).
• Strong technical, analytical, and problem-solving skills.
• Ability to work collaboratively in a fast-paced environment

Why Join Us

• Innovative Culture:  Work in a forward-thinking, adaptable environment.
• Leadership Impact:  Drive business decisions and performance.
• Professional Growth:  Access learning and advancement opportunities.
• Collaborative Team:  Enjoy a supportive and team-oriented setting.
• Transformational Role:  Optimize processes for efficiency and scalability.

Supervisory Responsibility  

This position will grow into managing others on the actuarial team. 

Work Environment  

This job operates in a professional office environment. This role routinely uses standard office equipment such as computers, phones, photocopiers, filing cabinets and fax machines. 

Physical Demands  

The physical demands described below are representative of those that must be met by an employee to successfully perform the essential functions of this job. 

While performing the duties of this job, the employee is regularly required to talk and communicate with others. This may be over the phone, in person, or through email and messaging. The employee must be able to hear others over the phone. The employee is frequently required to sit, stand; walk, and use their hands and fingers to work with the computer, phones, filing cabinets, paperwork, etc. 

Position Type and Expected Hours of Work  

This is a full-time position. Days and hours of work are Monday through Friday, 8:00 a.m. to 5:00 p.m. Additional hours as needed to complete assigned work and meet deadlines. 

Travel  

Limited travel is expected for this position. 

Work Authorization/Security Clearance  

Must be eligible to work in the United States. 

AAP/EEO Statement  

Midwest Holding is an Equal Opportunity Employer. 

If you need assistance or an accommodation due to a disability, you may contact us at 402-489-8266. 

Other Duties  

Please note this job description is not designed to cover or contain a comprehensive listing of activities, duties or responsibilities that are required of the employee for this job. Duties, responsibilities and activities may change at any time with or without notice. 

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