Director, Actuary - Retirement Services

Who We Are

At Corebridge Financial, we believe action is everything. That’s why every day we partner with financial professionals and institutions to make it possible for more people to take action in their financial lives, for today and tomorrow.

We align to a set of Values that are the core pillars that define our culture and help bring our brand purpose to life:

• We are stronger as one: We collaborate across the enterprise, scale what works and act   decisively for our customers and partners.
• We deliver on commitments: We are accountable, empower each other and go above and beyond for our stakeholders.
• We learn, improve and innovate: We get better each day by challenging the status quo and equipping ourselves for the future.
• We are inclusive: We embrace different perspectives, enabling our colleagues to make an impact and bring their whole selves to work.

Who You’ll Work With

This role is part of our Retirement Services Group and will report to the Chief Transformation Officer.

About The Role

This role is focused on the pricing of innovative annuity products in the advisor and 401k space primarily focused on the growth of the 401k In-Plan Income Initiative. The Retirement Services product suite also includes clones of our retail annuities sold through our VALIC financial advisors, including Fixed, Indexed, Variable, and RILA products.  This role will require significant collaboration and feedback loops with business partners both inside and outside of the broader actuarial department as products go through the development and management life cycles.

Responsibilities

• Collaborate with business partners in Product Development, Product Management, Hedging, Risk, Finance, and Assumption Setting to optimize pricing design.

• Price annuity products, while balancing profitability, marketability, and risk.

• Work to achieve buy-in from finance and risk business partners on pricing outcomes.

• Support the development of assumptions appropriate for the marketplace.

• Monitor industry trends especially regulatory changes impacting annuity products and pricing.

• Establish procedures for monitoring experience for newly developed products in order to adjust assumptions and pricing as necessary.

• Perform various duties delegated by Model Owners to support R&D pricing (i.e. specification development, collaboration with model developers, testing, etc.)

• Leverage pricing and product expertise to support other areas as needed. 

• Mentor and develop staff and serve as a leader within the broader department / company.

Preferred Skills and Qualifications

• Prior experience in annuity pricing and product development to include Guaranteed Lifetime Withdrawal Benefits

• Prior experience with hedging and/or reinsurance

• High proficiency in at least one actuarial pricing projection software, ideally Risk Agility FM or Prophet

Required Skills and Qualifications

• FSA designation in the Society of Actuaries

• Leadership and managerial experience

• Experience with pricing, hedging, or risk managing embedded options within annuities

• Experience with actuarial models

• Working knowledge of the annuity industry and all relevant product lines

• A proven track record of performance in prior roles within the insurance industry

• Ability to lead a small team

• Ability to navigate and obtain buy-in from multiple stakeholders in a complex matrix organization

• Ability to handle multiple projects and meet deadlines

• Ability to proactively surfaces new ideas, issues, and recommendations

• Excellent oral and written communication skills

• Customer oriented individual providing strong customer service to stakeholders

• Strong problem-solving skills

Compensation

The anticipated salary range for this position is $170,000 - $190,000 at the commencement of employment.  Not all candidates will be eligible for the upper end of the salary range. The actual compensation offered will ultimately be dependent on multiple factors, which may include the candidate’s geographic location, skills, experience and other qualifications.

Work Location

This position is based in Corebridge Financial’s Houston TX or Jersey City, NJ office and is subject to our hybrid working policy, which gives colleagues the benefits of working both in an office and remotely.

Estimated Travel

May include up to 25%

Why Corebridge?

At Corebridge Financial, we prioritize the health, well-being, and work-life balance of our employees. Our comprehensive benefits and wellness program is designed to support employees both personally and professionally, ensuring that they have the resources and flexibility needed to thrive.

Benefit Offerings Include:

• Health and Wellness: We offer a range of medical, dental and vision insurance plans, as well as mental health support and wellness initiatives to promote overall well-being.
• Retirement Savings: We offer retirement benefits options, which vary by location.  In the U.S., our competitive 401(k) Plan offers a generous dollar-for-dollar Company matching contribution of up to 6% of eligible pay and a Company contribution equal to 3% of eligible pay (subject to annual IRS limits and Plan terms). These Company contributions vest immediately.
• Employee Assistance Program: Confidential counseling services and resources are available to all employees.
• Matching charitable donations: Corebridge matches donations to tax-exempt organizations 1:1, up to $5,000.
• Volunteer Time Off: Employees may use up to 16 volunteer hours annually to support activities that enhance and serve communities where employees live and work.
• Paid Time Off: Eligible employees start off with at least 24 Paid Time Off (PTO) days so they can take time off for themselves and their families when they need it.

Eligibility for and participation in employer-sponsored benefit plans and Company programs will be subject to applicable law, governing Plan document(s) and Company policy.

We are an Equal Opportunity Employer

Corebridge Financial, is committed to being an equal opportunity employer and we comply with all applicable federal, state, and local fair employment laws. All applicants will be considered for employment based on job-related qualifications and without regard to race, color, religion, sex, gender, gender identity or expression, sexual orientation, national origin, disability, neurodivergence, age, veteran status, or any other protected characteristic. The Company is also committed to compliance with all fair employment practices regarding citizenship and immigration status. At Corebridge Financial, we believe that diversity and inclusion are critical to building a creative workplace that leads to innovation, growth, and profitability. Through a wide variety of programs and initiatives, we invest in each employee, seeking to ensure that our colleagues are respected as individuals and valued for their unique perspectives.

Corebridge Financial is committed to working with and providing reasonable accommodations to job applicants and employees, including any accommodations needed on the basis of physical or mental disabilities or sincerely held religious beliefs.  If you believe you need a reasonable accommodation in order to search for a job opening or to complete any part of the application or hiring process, please send an email to TalentandInclusion@corebridgefinancial.com.  Reasonable accommodations will be determined on a case-by-case basis, in accordance with applicable federal, state, and local law.

We will consider for employment qualified applicants with criminal histories, consistent with applicable law.

To learn more please visit: www.corebridgefinancial.com

Functional Area:

AC - Actuarial

Estimated Travel Percentage (%): No Travel

Relocation Provided: No

American General Life Insurance Company