Assistant Director & Actuary
Company: Northwestern Mutual
Location: Saint Francis
Posted on: February 15, 2026
|
|
|
Job Description:
Provide professional actuarial advice/services critical to
development, implementation and maintenance of the Companys
insurance, disability, annuity, and long-term care products. The
Actuarial Department develops appropriate premiums, dividends,
reserves, and surplus requirements by analyzing mortality,
morbidity, persistency, investment and expense experience, striving
to maintain equity and consistency among all policy owner
underwriting classes, while safeguarding the Companys long term
financial strength. Perform/supervise actuarial work required to
advise on matters related to product pricing, dividend setting,
reserve levels, mortality/morbidity issues, and field compensation.
Additionally, strive to keep current on actuarial techniques, and
on laws and regulations pertinent to your area of expertise;
provide guidance to others within your assigned field of expertise.
Primary Duties and Responsibilities The following areas are
examples of teams that could have roles available for the right
candidate. While each role has its own various duties and
responsibilities, each would provide opportunities for candidates
to stretch into new areas and fields of expertise based on
interests and long-term development objectives. Life Insurance
Pricing: Uphold Northwestern Mutual’s industry-leading life
insurance product line. This role includes new product design and
pricing, implementation of evolving regulations, and management of
inforce policies, all while ensuring equity across all life
insurance policyowners. Long-Term Care Insurance Pricing: Implement
and maintain products that offer a long-term care insurance
benefit. This role works with innovations in the long-term care
product suite, including death benefit acceleration riders and our
new life/long-term care hybrid insurance product, Long-Term
Advantage. Valuation: Perform Principle Based Reserve (PBR)
calculations, analysis, and reporting. Investigate assumptions
used; work with model development team to implement regulatory
changes in modeled reserves; present results to senior management.
As new products fall under a principle based framework, work with
team to develop new process and calculations. Modeling: Design
enhancements or new features for Northwestern Mutual’s in-house
models used for pricing, cashflow testing, reserving, and corporate
projections while working closely with model users. This role
offers candidates a variety of experiences with our product suite
and company financials and a high degree of flexibility to direct
which projects best suit their interests. Qualifications Attainment
of Fellow of the Society of Actuaries (FSA) designation. A minimum
of five years proven actuarial experience. Strong communication
skills. A high degree of expertise in one or more areas of
Department activities. Compensation Range: Pay Range - Start:
$114,450.00 Pay Range - End: $212,550.00 Geographic Specific Pay
Structure: Structure 110: Structure 115: We believe in fairness and
transparency. It’s why we share the salary range for most of our
roles. However, final salaries are based on a number of factors,
including the skills and experience of the candidate; the current
market; location of the candidate; and other factors uncovered in
the hiring process Northwestern Mutual is an equal opportunity
employer who welcomes and encourages diversity in the workforce. We
are committed to creating and maintaining an environment in which
each employee can contribute creative ideas, seek challenges,
assume leadership and continue to focus on meeting and exceeding
business and personal objectives. Skills Analytical Thinking (NM) -
Advanced, Customer Centricity (NM) - Advanced, Risk Management (NM)
- Advanced, Data Analytics (NM) - Expert, Cross Functional
Partnering & Planning (NM) - Advanced, Risk Evaluation (NM) -
Advanced, Scenario Planning (NM) - Advanced, Organizational &
Political Savvy (NM) - Intermediate, Strategic Thinking (NM) -
Intermediate, Negotiation & Managing Objection (NM) - Intermediate,
Adaptive Communication (NM) - Advanced, Insurance Finance &
Actuarial Acumen (NM) - Advanced, Storytelling through Data (NM) -
Advanced, Insurance Products (NM) - Advanced, Process Improvement
(NM) - Advanced, Attention to Detail (NM) - Expert, Statutes &
Regulation (NM) - Advanced, Learning Agility & Critical Thinking
(NM) - Advanced, Actuarial Modeling (NM) - Expert
Keywords: Northwestern Mutual, Waukegan , Assistant Director & Actuary, Accounting, Auditing , Saint Francis, Illinois
