Actuarial Associate

About Our Company

We’re a diversified financial services leader with more than $1.5 trillion in assets under management, administration and advisement as of year-end 2024. Our team of 22,000 people across 19 countries, serves more than 3.5 million individual, small business and institutional clients. We are a longstanding leader in financial planning and advice, a global asset manager and an insurer. Our unwavering focus on our clients and strong financial foundation connects each of our unique businesses – Ameriprise Financial, Columbia Threadneedle Investments and RiverSource Insurance and Annuities. Here, we foster meaningful careers, invest in the future, and make a difference for clients, institutions and communities around the world.

Job Description

This role will provide critical support to the Annuity Product Development function of RiverSource. Primary responsibilities of this role include fixed renewal rate setting, supporting Structured annuity renewal rate setting, renewal rate implementation, maintaining & documenting SOX controls and providing various inforce crediting rate summaries for downstream usage.

Key Responsibilities

• This position will support the Annuity Product Development team with a focus on renewal rate setting and implementation for annuities. Serve as subject matter expert on renewal rate setting & summarizing and communicating results to middle management.

• Lead the implementation of renewal rates while maintaining proper controls and documentation for SOX purposes.

• Provide technical analysis and support by operating, improving and documenting tools used in renewal rate setting. Utilize strong problem solving skills to investigate current client crediting rates, historical crediting rates, product design, and historical rate actions.

• Identify and take active role in process improvements related to rate setting; cleaning up Access databases, converting process to Python, and converting processes to utilize Data Lake to support the decommissioning of FAM.

• Support ongoing reporting; summarize & communicate results of renewal rate setting to peers and middle management, tracking renewal demographics for Structured annuities, and communicating various summaries of inforce crediting rates for downstream usage.

Required Qualifications

• Bachelors degree or equivalent experience

• All introductory ASA exams plus 1 Actuarial/Advanced ASA Exam or Requirement

• Validation by Education Experience (VEE) coursework completion.

• 3 years of actuarial experience

• Ability to work independently; self starter

• Strong written and verbal communication skills

• Ability to build strong relationships

Preferred Qualifications

• Bachelors degree with focus on Actuarial Science, Mathematics, Statistics, Data Science or related disciplines

• Experience with MS Excel, VBA, MS Access, and other database applications

• Previous experience with annuities

• Strong analytical, quantitative and problem-solving skills

• Strong technical skill set (Excel, VBA, Python, actuarial modeling software)

Visa Sponsorship

Applicants must have a valid work authorization that does not now, or in the future, require visa sponsorship for employment in the United States (e.g., H-1B, F-1 CPT, F-1 OPT, TN).

In-Office Collaboration

We are a client-centric, relationship-based business. Working together, in-person, is foundational to how we achieve results. By fostering a culture of face-to-face collaboration, idea sharing, productivity and personal connection, we deliver for our stakeholders — clients, advisors, employees and shareholders. Our employees work in the office at least four (4) days per week, with flexibility to work from home one (1) day per week. Some roles may require additional in-office time or different in-office expectations, and specific requirements will be discussed during the hiring process.

Base Pay Salary

The estimated base salary for this role is $93,400 - $128,400 / year. We have a pay-for-performance compensation philosophy. Your initial total compensation may vary based on job-related knowledge, skills, experience, and geographical work location. In addition, most of our roles are eligible for variable pay in the form of bonus, commissions, and/or long-term incentives depending on the role. We also have a competitive and comprehensive benefits program that supports all aspects of your health and well-being, including but not limited to vacation time, sick time, 401(k), and health, dental and life insurances.Full timeExemptFinanceRSA Annuities

Ameriprise Financial is an equal opportunity employer. We consider all qualified applicants without regard to race, color, religion, sex, sexual orientation, gender identity, gender expression, national origin, ancestry, age, physical or mental disability, medical condition, pregnancy, military status, veteran status, genetic information, citizenship, disability status, marital status, family status or any other basis prohibited by law.

We are committed to fostering an inclusive and accessible recruitment process for individuals with disabilities. If you require a reasonable accommodation to participate in the application or interview process, speak to your recruiter to discuss how we can support you.