Student Actuary

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Company: Beneficial Life Insurance Company

Job Title: Student Actuary

Job Type: Full Time

Location: Salt Lake City, UT

Pay Range: $75,000-$85,000 annually, commensurate with exam progress, education, and relevant experience

Note: Applications will be accepted throughout June, and interviews will begin in July.

About Beneficial Life

Founded in 1905, Beneficial Life Insurance Company is the oldest life insurance company based in the Intermountain West. A subsidiary of Deseret Management Corporation, Beneficial Life has spent over a century helping individuals and families achieve financial security through life insurance and annuity products. We are committed to integrity, stability, and service in everything we do.

Position Summary

Beneficial Life is seeking a motivated and detail-oriented Student Actuary to join our Actuarial Services team in Salt Lake City. In this full-time role, you will support the valuation and financial reporting functions of our life insurance and annuity lines of business. You will work alongside credentialed actuaries who are invested in your professional growth and will gain meaningful exposure to the full breadth of life company actuarial work while progressing through the Society of Actuaries (SOA) examination process.

Key Responsibilities

• Valuation & Reserving: Assist in the calculation and analysis of statutory and GAAP reserves for life insurance and annuity products, including support for PBR (Principle-Based Reserving) processes.
• Experience Studies: Collect, validate, and analyze policyholder data to support mortality, lapse, and expense experience studies.
• Financial Reporting: Prepare actuarial exhibits and supporting documentation for quarterly and annual financial statements.
• Data & Analytics: Build and maintain spreadsheets, databases, and actuarial models using Excel, SQL, and actuarial software.
• Regulatory & Compliance: Assist with regulatory filings, cash-flow testing, and asset adequacy analysis as directed by the Appointed actuary.
• Special Projects: Participate in ad hoc analyses and process improvement ef
• forts across the department.

Required Qualifications

• Bachelor’s degree in Actuarial Science, Mathematics, Statistics, Finance, Economics, or a related quantitative discipline.
• Minimum of two (2) SOA exams passed (e.g., Exam P and Exam FM, or equivalent).
• Strong proficiency in Microsoft Excel; experience with VBA, SQL, Python, or R is a plus.
• Solid analytical and problem-solving skills with attention to detail.
• Effective written and verbal communication skills, including the ability to translate technical results for non-technical audiences.
• Ability to manage multiple priorities and meet deadlines in a collaborative team environment.

Preferred Qualification

• Internship or prior work experience in a life insurance or annuity actuarial setting.
• Familiarity with the actuarial modeling software Polysystems.
• Exposure to US statutory accounting and GAAP reporting frameworks.
• Progress toward or interest in the SOA’s FSA track in Individual Life & Annuities or Financial/ERM.

Actuarial Exam Study Program

Beneficial Life offers a competitive actuarial study program designed to support your path to full credentialing with the SOA, including:

• Paid study time- up to 120 hours of on-the-clock study time per exam sitting, with flexible scheduling in coordination with your manager.
• Exam fee reimbursement- 100% coverage of registration fees, including study materials and approved preparatory courses (e.g., Coaching Actuaries, The Infinite Actuary, ACTEX/ASM).
• Exam pass raises- competitive salary increases upon successful completion of each exam.
• Study materials- reimbursement for study manuals, online courses, and practice exam subscriptions
• Support culture- mentorship from credentialed actuaries (FSA) and a team that understands the demands of the exam process.

Benefits

• Comprehensive benefits package including medical, dental, and vision coverage
• 401(k) with company match
• Employer-funded retirement account
• Paid time off in addition to paid company holidays
• Employee Assistance Program (EAP) services
• Possibility of a hybrid-work schedule

Physical Requirements

• Prolonged periods of sitting at a desk and working on a computer.
• Must be able to lift up to 15 pounds at times.