Actuary - MG-ALFA Modeling

Our vision for the future is based on the idea that transforming financial lives starts by giving our people the freedom to transform their own. We have a flexible work environment, and fluid career paths. We not only encourage but celebrate internal mobility. We also recognize the importance of purpose, well-being, and work-life balance. Within Empower and our communities, we work hard to create a welcoming and inclusive environment, and our associates dedicate thousands of hours to volunteering for causes that matter most to them.

Chart your own path and grow your career while helping more customers achieve financial freedom. Empower Yourself.

We are seeking an experienced Actuary to join our modeling team. This role focuses on actuarial modeling within the Modeling Centers of Excellence, with a primary emphasis on MG-ALFA. The successful candidate will be responsible for developing, maintaining, and enhancing actuarial models used for financial reporting, asset & liability projections, and reserves. This role requires strong technical expertise in MG-ALFA and a solid understanding of valuation concepts, particularly for stable value funds (General and Separate Account) and variable funds within the retirement space.

What you will do:

• Lead the development, maintenance, and enhancement of MG-ALFA actuarial models to support valuation, financial reporting, and risk projections for stable value funds (GA and SA) and variable funds
• Ensure models comply with regulatory requirements and internal governance standards (Statutory, IFRS, etc.)
• Perform in-depth model validation, debugging, and optimization to enhance accuracy and efficiency
• Support assumption setting, scenario testing, and sensitivity analysis for financial reporting and risk management
• Collaborate with valuation actuaries, finance, risk management, and IT teams to integrate models into company workflows
• Document model methodologies, changes, and assumptions to support audits and governance reviews
• Drive automation and process improvement initiatives to increase efficiency in actuarial modeling and reporting
• Stay current with industry trends, regulatory changes, and best practices in actuarial modeling, particularly for stable value and variable fund products

What you will bring:

• 6+ years actuarial experience, preferably in modeling roles
• Strong expertise in MG-ALFA, including scripting and automation; ALFA Integrate experience preferred
• Experience with asset and liability modeling
• ASA and MAAA designation required
• Qualified to sign in the US
• Bachelor's degree in actuarial science or math/statistics required

What will set you apart:

• FSA preferred
• Retirement product knowledge (particularly GA and SA Stable Value products and variable funds) preferred but not required
• Conceptual knowledge of actuarial area and transferring skills to new projects
• Can research and design solutions for complex actuarial issues
• Advanced proficiency in MS Office including Excel, Access and VBA
• Ability to present complex concepts and analysis to a variety of audiences including company leaders

***Applicants must be authorized to work for any employer in the U.S. We are unable to sponsor or take over sponsorship of an employment visa at this time, including CPT/OPT.***

What we offer you

We offer an array of diverse and inclusive benefits regardless of where you are in your career. We believe that providing our employees with the means to lead healthy balanced lives results in the best possible work performance.

• Medical, dental, vision and life insurance
• Retirement savings - 401(k) plan with generous company matching contributions (up to 6%), financial advisory services, potential company discretionary contribution, and a broad investment lineup
• Tuition reimbursement up to $5,250/year
• Business-casual environment that includes the option to wear jeans
• Generous paid time off upon hire - including a paid time off program plus ten paid company holidays and three floating holidays each calendar year
• Paid volunteer time - 16 hours per calendar year
• Leave of absence programs - including paid parental leave, paid short- and long-term disability, and Family and Medical Leave (FMLA)
• Business Resource Groups (BRGs) - internal networks that rally around common interest, experiences and identities such as race, ethnicity, gender, ability, military status and sexual orientation. BRGs play a vital role in educating and engaging our people and advancing our business priorities.

Base Salary Range

The salary range above shows the typical minimum to maximum base salary range for this position in the location listed. Non-sales positions have the opportunity to participate in a bonus program. Sales positions are eligible for sales incentives, and in some instances a bonus plan, whereby total compensation may far exceed base salary depending on individual performance. Actual compensation offered may vary from posted hiring range based upon geographic location, work experience, education, licensure requirements and/or skill level and will be finalized at the time of offer.

Equal opportunity employer * Drug-free workplace

We are an equal opportunity employer with a commitment to diversity. All individuals, regardless of personal characteristics, are encouraged to apply. All qualified applicants will receive consideration for employment without regard to age (40 and over), race, color, national origin, ancestry, sex, sexual orientation, gender, gender identity, gender expression, marital status, pregnancy, religion, physical or mental disability, military or veteran status, genetic information, or any other status protected by applicable state or local law.

***For remote and hybrid positions you will be required to provide reliable high-speed internet with a wired connection as well as a place in your home to work with limited disruption. You must have reliable connectivity from an internet service provider that is fiber, cable or DSL internet. Other necessary computer equipment, will be provided. You may be required to work in the office if you do not have an adequate home work environment and the required internet connection.***

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