Actuarial Product Analyst

Actuarial Product Analyst

Bring your analytical talent to life as an Actuarial Product Analyst! In this fast‑paced role, you will jump right into updating certificate values, creating tailored quotes and illustrations, and helping review the formulas that underpin our products and systems. You will provide administrative support and demonstrate a commitment to continuous learning and professional growth. If you love solving problems and diving into detail, this is the place to shine.

Modern Woodmen of America is one of the nation’s largest fraternal benefit societies, with over $18 billion in assets. Fraternals are unique membership organizations that pair the “member-owned” characteristic of a mutual insurance company with the “social mission” characteristic of a service organization. They unite individuals with common bonds, provide a variety of life insurance and investment products, and form one of the nation’s most effective volunteer networks.

Responsibilities:

• Become knowledgeable and stay current with Modern Woodmen of America offerings.
• Audit and correct certificate rates and values for administrative and sales support systems.
• Review error lists, diagnose issues, and update certificate values for select product lines.
• Respond to inquiries concerning basic certificate values from members, Home Office employees, and Field representatives.
• Prepare certificate value quotes and illustrations for Home Office departments and Field representatives for limited product lines.
• Test values, procedures and forms for new products and systems and changes to existing products and systems.
• Document product calculations and factors for reference and disaster recovery.
• Create and distribute reports as needed.

What we need:

• Bachelor’s degree required; Mathematics or Finance preferred.
• Experience in insurance industry or other financial operations preferred.
• LOMA Level 1 designation completed or willing to obtain.
• Strong analytical, mathematical, and problem-solving abilities.
• Attention to detail and accuracy.
• Effective communication skills.
• Proficiency in Microsoft Office, especially Excel (competency may be verified).

What we offer:

• Pay: The hourly pay for this position is $22.00. The specific rate will depend on the successful candidate’s qualifications and prior experience.
• Work Arrangements: This is a full-time hybrid, non-exempt position: 37.5 hours per week (7.5 hours per day), Monday- Friday, with flexible start time between 7 a.m.-9 a.m. Hybrid positions work at least four days in office each week. New employees beginning to work in a hybrid role will be expected to work on-site for the first year. Hybrid work arrangements are subject to change at any time based on business needs.
• Stability: Modern Woodmen has been Modern Since 1883® and exists for our members. We make long-term decisions that provide stability for our employees, financial representatives, and members.
• Respect for personal time: We offer vacation, sick leave and 11 paid holidays. We value your time outside of work and offer careers that blend work and life well.
• Professional growth: Benefit from our commitment to employee development which includes educational offerings to enhance your knowledge of our industry.
• Great culture: We build strong working relationships across our organization through collaborative work and volunteer opportunities.
• A beautiful office: Enjoy a beautiful view! Our home office, located in downtown Rock Island, IL, has a lovely plaza overlooking the Mississippi River.
• On-site Café: Our employees can purchase a variety of breakfast, lunch, and beverage options at Café 1883.
• A thriving local community: Not from the Quad Cities and hesitant to consider relocation? Give it some thought. The Quad Cities offers an idyllic Midwestern lifestyle along the mighty Mississippi and consistently ranks at the top of the list for quality of life and cost of living. It is home to more than our fair share of artists, festivals, and fun in every season.
• Exceptional benefits: Our comprehensive benefits package is designed to support your health and financial well-being. Benefits include:
  • Company-paid retirement plan
  • Matching 401(k) plan
  • Employee Impact Bonus
  • Medical, Dental and Prescription Drug Insurance. We pay 100% of employees’ health insurance premiums and 50% of employee dependents’ premiums.
  • Group term life insurance.
  • Long-term and short-term disability.
  • Voluntary benefits: vision, flexible savings accounts (FSA), accident insurance

Modern Woodmen is an equal opportunity employer. Modern Woodmen is committed to providing a respectful environment where each person’s diverse opinions, attitudes, attributes, and feelings are respected.