We are Farmers!

We are... more than just your favorite commercials. We are a passionate, award winning, equal opportunity employer, committed to the strength of a diverse workforce. We are dedicated to supporting the well-being of our people through our extensive suite of benefits, as well as the well-being of the communities we serve through employee volunteer programs and nonprofit partnerships. Helping others in their time of need isn't just our business - it's our culture! We are Farmers!

Do you thrive in a high-volume, fast-paced environment? Do you enjoy the challenge of a position where no two days are alike? We are looking for positive, high-energy professionals who are not just looking for a job, but a meaningful career!

At Farmers, our ambition is to be the leader in delivering peace of mind, innovating for customers whenever and wherever they need us. That means having people like you who can help us evolve to meet changing customer and business needs. Continuous development is critical to our success at Farmers; that means being curious, continually innovating, being open to new opportunities and embracing change. As the needs of our business and customers change, and you acquire needed experience, you may have opportunities to use your knowledge and skills in a different role. As you take on these new challenges, Farmers is committed to providing you with the necessary training and support along your career journey.

Workplace: Remote ( #LI-Remote )

Farmers believes in a culture of collaboration, creativity, and innovation, which thrives when we have the ability to work flexibly in a virtual setting as well as the opportunity to be together in person. Our hybrid work environment combines the best of both worlds with at least three (3) days in office and up to two (2) days virtual for employees who live within fifty (50) miles of a Farmers corporate office. Applicants beyond fifty (50) miles may still be considered.

Job Summary

Leads team of pricing and product actuaries. Coordinates development and implementation of new products, including enhancements/refinements. Oversees rate setting and product technical support activities within the product function.

Essential Job Functions

• Initiates, analyzes, recommends and implements appropriate revisions in actuarial methods and assumptions in areas with significant financial impact.
• Works independently to develop and implement appropriate solutions to actuarial issues.
• Acts as project lead, assigning project work, managing workflow and providing feedback to leadership to enable appropriate modifications to and timely completion of projects.
• Represents the business unit through participation in inter-departmental meetings and committees.
• Prepares and interprets data and related formulae for leadership.
• Analyzes operations to recommend improvement for control and/or efficiency.
• Designs and conducts training and development of professional actuarial personnel to maintain efficient and accurate completion of projects.
• May lead FLI participation in external examinations by the I.R.S., State Insurance Departments, external auditor, and internal audit teams.
• Coordinates with appropriate departments on requests for information and relevant reporting issues.
• Integrates with the business to assemble action/remediation plans to address actuarial methodology issues or gaps.
• Collaborates with other teams (various departments and/or external experts) to develop and execute actuarial methodologies including remediation of operational issues that arise as part of methodology development, configuration and testing.

Additional Essential Job Functions

• Analyzes proposed and existing products, develops appropriate formulas, and directs the calculation of nonforfeiture values, premiums, commission rates, reserves, and proposal and disclosure values for new and existing products.
• Develops, extends, and maintains the profit study, reserve, and nonforfeiture value calculation programs.
• Directs the implementation of new products on administration, proposal and valuation systems.
• Directs audits of the plan description file, and coordinates changes Financial Reporting and Actuarial Systems Responsible for the timely and accurate delivery of actuarial portions of financial statements.
• Maintains actuarial valuation systems to be consistent with End-User computer standards, including required changes as necessary due to IT system changes, product changes, and regulation changes.
• Supports project delivery for UAT and parallel run testing for model runs.
• Collaborates with IT to ensure new Company processes and procedures are correctly reflected in the actuarial valuation systems.
• Provides system programming/data generation support to other actuaries and departments to generate policy data information used in analysis and decision-making.
• Researches, analyzes and recommends necessary changes and additions to mainframe and PC software, as well as End-User computer standards as a result of capacity constraints and procedural or technological changes.
• Directs and analyzes actuarial research and experience studies and prepares reports to leadership.
• Directs the development of actuarial assumptions used in models for projecting future experience.
• Analyzes agent compensation systems and recommends changes where appropriate to maintain profitability and competitiveness.
• Directs the preparation of reports and financial projections to provide leadership with information needed to monitor and evaluate the impact of business decisions on profits.
• Performs other duties as assigned.

Physical Actions

• This role, whether performed virtually or in an office setting, will include normal and customary distractions, noise, and interruptions.
• Sits or stands for extended periods of time, up to a full work shift.
• Occasionally reaches overhead and below the knees, including bending, twisting, pulling, and stooping.
• Occasionally moves, lifts, carries, and places objects and supplies weighing 0-10 pounds without assistance.
• Listens to, interprets, and differentiates auditory information (example others speaking) at normal speaking levels with or without correction.
• Visually verifies and reads information.
• Visually locates material, resources and other objects.
• Ability to continuously operate a computer for extended periods of time, up to a full work shift.
• Physical dexterity sufficient to use hands, arms, and shoulders repetitively to operate keyboard and other office equipment up to a full work shift.

Physical Environment

This position operates in an open office working environment which will include normal and customary distractions, noise, and interruptions.

Education Requirements

Bachelor's degree required. Fellow of the Society of Actuaries and Member of the American Academy of Actuaries. Maintains continuing education requirements in order to sign public statements of actuarial opinion.

Experience Requirements

Five years of actuarial experience including two years as a Managing Actuary, FSA or Staff Actuary or the equivalent.

Benefits

• Farmers offers a competitive salary commensurate with experience, qualifications and location.
  o CA Only: $145,440 - $210,700
  o CO Only: $136,400 - $181,800
  o NY Only: $136,400 - $210,700
  o Albany County: $145,440 - $181,800
  o WA Only: $145,440 - $243,125
• Bonus Opportunity (based on Company and Individual Performance)
• 401(k)
• Medical
• Dental
• Vision
• Health Savings and Flexible Spending Accounts
• Life Insurance
• Paid Time Off
• Paid Parental Leave
• Tuition Assistance
• For more information, review "What we offer" on https://www.farmers.com/careers/corporate/#offer

Job Location(s): Virtual- USA

Want to learn more about our culture & opportunities? Check out www.Farmers.com/careers/corporate and be sure to follow us on Instagram, LinkedIn, and TikTok.