Job Description

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 12 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 actuarial associate. The Actuarial Intern works on a team with responsibility for one of the primary actuarial functions including modeling, pricing, valuation and reporting of deferred annuities including but not limited to fixed indexed annuities. Each intern is assigned an impactful project to support company initiatives.

Position is based in Des Moines, IA with an on-site working schedule

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.
• Ensuring the accuracy of the calculations and inputs in Integrate model using Excel-based independent calculators.
• Generating and reviewing reserve calculations across both Statutory and GAAP reporting requirements on fixed indexed annuities.
• Reporting, validating and analyzing current assets and liabilities, as well as delivering required quarterly reporting items.
• Building reports in Integrate for fixed indexed annuities or similar products for additional management analysis.
• Assisting in product design and developing actuarial models to competitively and profitably price new liabilities.
• Assisting in rate setting for new or existing annuity products.
• Supporting the validation of contract values for other departments.
• Modifying and enhancing independent policy calculators.
• Researching 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, vendors, and other outside third parties.
• Ability to successfully handle pressure and meet deadlines in a face-paced work environment.
• Demonstrated commitment to continuous learning and development.

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