Variable Annuity Product - Senior Actuarial Director

Protective Life Corporation

Job Overview

Location

Work From Home

Job Type

Full-time

Full Job Description

📋 Description

• The Variable Annuity Product Senior Actuarial Director is a strategic leadership role responsible for shaping the future of retirement income solutions at Protective Life Corporation, directly impacting the financial security of millions of policyholders by modernizing product offerings and ensuring actuarial excellence in pricing and risk management.
• This role leads a team of actuaries and analysts in the Product Development Department, driving innovation in variable annuity design, overseeing end-to-end product lifecycle management, and ensuring alignment with corporate strategy, regulatory standards, and market competitiveness.
• Day-to-day responsibilities include leading the development and refinement of variable annuity product features, including guaranteed living benefits and death benefits, ensuring they meet customer needs while maintaining profitability and risk-adjusted returns.
• The Senior Director will apply advanced actuarial modeling techniques to price complex variable annuity products, incorporating stochastic scenarios, interest rate volatility, equity market exposure, and policyholder behavior assumptions using industry-standard software such as Prophet, MoSes, or similar platforms.
• Collaborating closely with investment, compliance, legal, and marketing teams, the role ensures that product designs are operationally feasible, compliant with state and federal regulations (including NAIC and SEC guidelines), and effectively communicated to distributors and customers.
• The incumbent will prepare and present detailed business cases, pricing analyses, and risk assessments to senior leadership and governance committees (e.g., Product Approval Committee, ALCO) to secure approvals for new product launches or modifications.
• Monitoring market trends, competitor activity, and regulatory changes (such as NAIC Principle-Based Reserving and Regulation Best Interest) to proactively adapt product strategies and maintain Protective Life’s competitive edge in the retirement market.
• Mentoring and developing a high-performing team of actuaries and analysts, fostering a culture of technical excellence, innovation, and accountability while ensuring knowledge transfer and succession planning.
• Partnering with the Investment Management team to align product guarantees with underlying investment options and asset allocation strategies, ensuring that product design supports both policyholder outcomes and corporate risk appetite.
• The Retirement Division at Protective Life is a mission-driven unit focused on helping Americans achieve financial security in retirement through innovative, reliable, and transparent insurance and investment products.
• Protective Life Corporation, a Fortune 500 company with over $100 billion in assets under management, is committed to long-term value creation through disciplined risk management, customer-centric innovation, and a culture of integrity and inclusion.
• In this role, the Senior Director will gain deep expertise in the evolving landscape of retirement income products, including the integration of ESG considerations, digital distribution channels, and hybrid product designs that combine insurance and investment elements.
• The position offers the opportunity to influence enterprise-wide product strategy, build cross-functional leadership skills, and establish a legacy of innovation that enhances the financial well-being of retirees across the United States.

🎯 Requirements

• Minimum 10+ years of progressive actuarial experience in life insurance, with at least 5 years focused specifically on variable annuity product development, pricing, or valuation.
• Fellow of the Society of Actuaries (FSA) or equivalent actuarial credential (e.g., FIA) with demonstrated expertise in stochastic modeling, risk management, and regulatory capital frameworks (e.g., C3 Phase II, AG43, VM-21).
• Proven leadership experience managing a team of actuaries and analysts, including performance coaching, talent development, and cross-functional project leadership.
• Advanced proficiency in actuarial software (Prophet, MoSes, AXIS, or similar) and strong programming skills in VBA, Python, or R for model development and automation.
• In-depth knowledge of variable annuity product structures, including guaranteed minimum withdrawal benefits (GMWB), guaranteed minimum accumulation benefits (GMAB), and guaranteed minimum death benefits (GMDB), as well as familiarity with separate account management and mutual fund underlying options.
• Excellent communication and presentation skills, with the ability to translate complex actuarial concepts into clear business recommendations for non-technical stakeholders, including executives, regulators, and distribution partners.

🏖️ Benefits

• Comprehensive health, dental, and vision insurance plans with flexible spending accounts and wellness incentives.
• Generous 401(k) retirement plan with company matching contributions and immediate vesting.
• Paid time off including vacation, holidays, and parental leave, plus additional time off for volunteer work and personal development.
• Tuition reimbursement and professional development support for continuing education, actuarial exams, and leadership training.
• Employee assistance program (EAP) offering confidential counseling, financial planning, and legal resources.
• Flexible work-from-home arrangement with technology stipend and ergonomic home office support.

Skills & Technologies

Design

Senior

Onsite

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Protective Life Corporation

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About Protective Life Corporation

Protective Life Corporation, headquartered in Birmingham, Alabama, is a financial services holding company providing life insurance, annuities, asset protection, and retirement and investment products to individuals and institutions through subsidiaries such as Protective Life Insurance Company. Founded in 1907, the company operates nationwide and manages assets exceeding $100 billion, serving policyholders, plan participants, and institutional clients with risk management and wealth accumulation solutions. The firm distributes products via independent agents, brokers, financial institutions, and strategic partnerships, focusing on long-term financial security and stable cash flow generation for its customers and shareholders.

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