Actuary - Group Life & Health Assumptions

Together we fight for everyone’s opportunity for a better financial future.

We will do this together — with customers, partners and colleagues. We will fight for others, not against: We will stand up for and champion everyone’s access to opportunities. The status quo is not good enough … we believe every individual and every community deserves access to financial opportunities. We are determined to support both individuals and communities in reaching a better financial future.  We know that reaching this future depends on our actions today.

Like our Purpose Statement, Voya believes in being bold and committed to action.  We are committed to a work environment where the differences that we are born with — and those we acquire throughout our lives — are understood, valued and intentionally pursued. We believe that our employees own our culture and have a responsibility to foster an environment where we all feel comfortable bringing our whole selves to work. Purposefully bringing our differences together to positively influence our culture, serve our clients and enrich our communities is essential to our vision.

Are you ready to join a company with a strong purpose and a winning culture? Start your Voyage – Apply Now

Get to Know the Opportunity:

This position is within the assumptions and cash flow team. This role is expected to have 2 direct reports. This person will be responsible for performing experience studies for Employee Benefits products. It involves overseeing the calculation, analysis, and setting of assumptions for all Group Life & Disability, Voluntary Life, Stop Loss  and Supplemental benefit products. The role will also perform Cash Flow Testing Analysis and support actuarial memorandums. The role will participate in special initiatives from an assumptions perspective and make improvements to processes and controls. 

The Contributions You'll Make:

With respect to Voya’s blocks of Employee Benefits Products (Group Life & Disability, Voluntary Life, Stop Loss  and Supplemental benefit products)

• Experience studies of all assumptions
• Oversee Cash Flow Testing Analysis
• Support year end actuarial memorandums for all business units
• Design and execute actuarial controls
• Collaborate with IT teams to improve data sources
• Implement emerging techniques such as predictive analysis and machine learning into experience studies  
• Manage and/or provide technical guidance to staff
• Direct special projects as assigned

Minimum Knowledge & Experience:  

• Bachelors’ degree in Actuarial Science, Mathematics, Finance or business related discipline
• Fellow of Society of Actuaries
• 7+ years of actuarial experience with focus on group life & health products
• Experience in assumption setting, experience studies, predictive analytics, AI tools is preferred
• Highly analytical, strong oral and written communication skills, detail oriented with an ability to solve complex business problems; capable of effectively communicating with all audiences; good presentation skills
• Experience working with large data sets and data analysis
• Ability to work independently or as part of a team
• Ability to manage and negotiate competing priorities and deadlines
• Capable of effectively participating in cross functional / cross business unit teams
• Positive leadership qualities

Minimum Technical Skills:

• Strong knowledge of Excel, VBA is required
• Knowledge in Tableau, Python, MS Access, SAS is a plus

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Compensation Pay Disclosure:

Voya is committed to pay that’s fair and equitable, which means comparable pay for comparable roles and responsibilities.

The below annual base salary range reflects the expected hiring range(s) for this position in the location(s) listed. In addition to base salary, Voya offers incentive opportunities (i.e., annual cash incentives, sales incentives, and/or long-term incentives) based on the role to reward the achievement of annual performance objectives. Please note that this salary information is solely for candidates hired to perform work within one of these locations, and refers to the amount Voya Financial is willing to pay at the time of this posting.

Actual compensation offered may vary from the posted salary range based upon the candidate’s geographic location, work experience, education, licensure requirements and/or skill level and will be finalized at the time of offer. Salaries for part-time roles will be prorated based upon the agreed upon number of hours to be regularly worked.

Be Well. Stay Well.

Voya provides the resources that can make a difference in your lives. To us, this means thriving physically, financially, socially and emotionally. Voya benefits are designed to help you do just that. That’s why we offer an array of plans, programs, tools and resources with one goal in mind: To help you and your family be well and stay well.

What We Offer

• Health, dental, vision and life insurance plans
• 401(k) Savings plan – with generous company matching contributions (up to 6%)
• Voya Retirement Plan – employer paid cash balance retirement plan (4%)
• Tuition reimbursement up to $5,250/year
• Paid time off – including 20 days paid time off, nine paid company holidays and a flexible Diversity Celebration Day.
• Paid volunteer time — 40 hours per calendar year

Learn more about Voya benefits (download PDF)

Critical Skills

At Voya, we have identified the following critical skills which are key to success in our culture:

• Customer Focused: Passionate drive to delight our customers and offer unique solutions that deliver on their expectations.
• Critical Thinking: Thoughtful process of analyzing data and problem solving data to reach a well-reasoned solution.
• Team Mentality: Partnering effectively to drive our culture and execute on our common goals.
• Business Acumen: Appreciation and understanding of the financial services industry in order to make sound business decisions.
• Learning Agility: Openness to new ways of thinking and acquiring new skills to retain a competitive advantage.

Learn more about Critical Skills

Equal Employment Opportunity

Voya Financial is an equal-opportunity employer. Voya Financial provides equal opportunity to qualified individuals regardless of race, color, sex, national origin, citizenship status, religion, age, disability, veteran status, creed, marital status, sexual orientation, gender identity, genetic information, or any other status protected by state or local law.