Actuarial Intern

At American Equity we offer leading annuity products that help empower our clients to fulfill their needs and wants in retirement. Our success comes from hiring high-energy individuals who embody the beliefs that drive our unique culture. We currently fund over half a million retirements nationwide, and have been headquartered in West Des Moines, Iowa, for over twenty-five years with satellite offices in Charlotte, NC and New York, NY.

The American Equity Summer Internship Program offers an immersive real-world experience, closely replicating the career journey of an American Equity professional. Each intern will contribute to meaningful, hands-on projects that drive measurable business outcomes, gaining valuable experience along the way.

Interns will also have the opportunity to present their project work to company leaders, network with executives, and participate in educational programs designed to support their personal and professional growth. Additionally, interns will engage in community service projects and social events, building connections with fellow interns and the broader American Equity team.

The internship will be a 10 week program located at our downtown Des Moines office.

GENERAL PURPOSE OF THE JOB:   

American Equity’s Summer Internship Program is designed to provide Actuarial students with an immersive, challenging and meaningful real-world work experience that replicates as closely as possible the career journey of an American Equity Actuary. The Actuarial Intern works on a team with responsibility for one of the primary actuarial functions including modeling, pricing, valuation and reporting of fixed indexed annuities.  Each intern is assigned a meaningful project to support company initiatives.

ESSENTIAL DUTIES AND RESPONSIBILITIES:  

Each intern project may include any of these listed duties and responsibilities:

• Model development in Milliman’s Integrate modeling software for fixed indexed annuities including identifying, addressing and resolving model changes in a controlled framework.
• Ensures the accuracy of the calculations and inputs in Integrate model using Excel-based independent calculators.
• Model production in Integrate using the Microsoft Azure grid to produce timely results.
• Generating and reviewing reserve calculations across both Statutory and GAAP reporting requirements on fixed indexed annuities.
• Timely and accurate reporting, validation and analysis of current assets and liabilities, as well as delivery of required quarterly reporting items. 
• Builds reports in Integrate for fixed indexed annuities or similar products for additional management analysis.
• Assists in product design and development of actuarial models to competitively and profitably price the cost of new liabilities.
• Assists in rate setting of new or existing annuity products.
• Support policyholder services inquiries to validate contract values.
• Modifies and enhances the independent policy calculators.
• Research policyholder data using various tools such as SQL, R, Python, and Tableau.

SUPERVISORY RESPONSIBILITIES:

None.

EDUCATION AND/OR EXPERIENCE:  

• Actively pursuing a bachelor’s or master’s degree in actuarial science, data science, or related field of study.

CERTIFICATES, LICENSES, PROFESSIONAL DESIGNATIONS:

• Passing score on at least 1 preliminary actuarial examination is required.

KNOWLEDGE, SKILLS AND ABILITIES:

• Strong analytical and problem-solving skills, including ability to research and analyze data with little instruction.
• Strong preference of being self-motivated and results oriented.
• Exceptional attention to numeric and other details.
• Effective organization skills.
• Effective verbal and written communication skills.
• Ability to work collaboratively and successfully with coworkers, customers, reinsurers, vendors, and other outside third parties.
• Ability to successfully handle pressure and meet deadlines in a face-paced work environment.
• Ability to successfully prioritize an unpredictable workflow to meet deadlines.
• Demonstrated commitment to continuous learning and development.