Actuary - Experience Studies

The work we do has an impact on millions of lives, and you can be a part of it.
We help protect our customers against life’s uncertainties. Regardless of where you work within the company, you’ll be helping provide protection and peace of mind when our customers need it most.

Protective Insurance Company is seeking an experienced Actuary to join our Experience Studies Team, with primary responsibility for Variable Annuities (VA). This highly visible role is critical to the company’s financial reporting, assumption governance, and regulatory processes.

The individual in this role will lead assumption analysis, development, and governance for Variable Annuities, including ownership of the annual VA assumption unlocking process. This position works closely with actuarial and non‑actuarial stakeholders across valuation, pricing, risk, and finance to ensure assumptions are appropriate, well‑governed, and consistently applied across the organization. The role reports to the director of the actuarial assumptions team, and offers meaningful exposure to senior leadership and governance committees.

Key Responsibilities:
•
Analyze experience and develop actuarial assumptions, including lapses, mortality, withdrawal benefit utilization, partial withdrawals, and premium persistency.

•
Own and manage the annual annuity assumption unlocking process, including documentation, controls, and governance requirements.

•
Analyze quarterly annuity experience studies, monitoring actual‑to‑expected results and validating experience data used for assumption updates.

•
Develop assumption proposals and clearly communicate findings, recommendations, and impacts to senior leadership and assumption governance committees.

•
Assist with the implementation and coding of updated assumptions in actuarial models using GGY AXIS and/or PolySystems.

•
Support assumption reporting and analysis for statutory and Generally Accepted Accounting Principles (GAAP) financial reporting.

•
Contribute to assumption support for Principle‑Based Reserving (PBR), including Valuation Manual 21 (VM‑21), cash flow testing, audits, and management reporting.

•
Partner with valuation, pricing, risk management, and other teams to promote consistency and alignment of assumptions across product lines.

•
Support additional product lines or experience studies as assigned.

Core Competencies (Skills, Abilities & Knowledge):
• Strong expertise in actuarial assumption setting, experience analysis, and governance processes.

• Deep understanding of life and annuity products and policyholder behavior.

• Advanced analytical and predictive modeling skills, with strong attention to detail.

• Proficiency in spreadsheet tools and actuarial modeling systems.

• Ability to interpret complex data and translate technical results to support the assumption review committee and approval process.

• Strong written and verbal communication skills, including the ability to present technical results to senior leaders and governance committees.

• Ability to manage multiple priorities, meet deadlines, and work effectively both independently and collaboratively.

• High level of professionalism, ownership, and accountability in a controlled financial reporting environment.

Minimum Requirements:
• Bachelor’s degree in Actuarial Science, Mathematics, Statistics, or a related field

• Fellow of the Society of Actuaries (FSA) with current Continuing Professional Development (CPD) compliance

• Minimum of 5 years of actuarial experience, including life or annuity experience in pricing, valuation, experience studies, risk, or related function.

• Strong communication skills with the ability to explain technical concepts to diverse stakeholders

Preferred Qualifications:
• Experience with annuity products.

• Experience working in assumption governance or experience studies functions.

• Experience supporting statutory and GAAP financial reporting, including Principle Based Reserving (PBR).

#LI-AP1

Employee Benefits:
We aim to protect the wellbeing of our employees and their families with a broad benefits offering. In addition to offering comprehensive health, dental and vision insurance, we support emotional wellbeing through mental health benefits and an employee assistance program. Work/life balance is important and Protective offers a variety of paid time away benefits (e.g., paid time off, paid parental leave, short-term disability, and a cultural observance day). The financial health of our employees is just as important as physical and emotional health. Some of the financial wellbeing benefits include contributions to healthcare accounts, a pension plan, and a 401(k) plan with Company matching. All employees are encouraged to protect their overall wellbeing by engaging in ProHealth Rewards, Protective’s platform to improve wellbeing while earning cash rewards.

Eligibility for certain benefits may vary by position in accordance with the terms of the Company’s benefit plans.

Accommodations for Applicants with a Disability:
If you require an accommodation to complete the application and recruitment process due to a disability, please email [email protected]. This information will be held in confidence and used only to determine an appropriate accommodation for the application and recruitment process.

Please note that the above email is solely for individuals with disabilities requesting an accommodation. General employment questions should not be sent through this process.

We are proud to be an equal opportunity employer committed to being inclusive and attracting, retaining, and growing an inclusive workforce.