Actuarial Intern (Summer 2027)

About the Role

Internships are short-term work experiences for a designated period of time that allow college students the opportunity to observe and participate in the professional work environment, to explore how his/her interests relate to possible careers, and to gain practical experience in an industry relating to their field of study.

Key Responsibilities

Typical assignments in the Actuarial function include an introduction to the business, product development, financial reporting, and risk management. Projects may include:

• Compile data for experience analyses and prepare related reports
• Assessing current and new product designs for feasibility in the marketplace
• Translating product specifications into valuation assumptions for new products
• Pricing of new and existing product designs to ensure that Division profit goals are met
• Assisting in statutory, GAAP, and tax valuation and other miscellaneous reserving requirements
• Assist with quarterly ALM risk profiles, investment income budget, regulatory reserve adequacy testing and determination, and other actuarial valuation
• Building and running computer asset/liability models using actuarial modeling software
• Conversion of existing actuarial systems to new platforms
• Automate processes by writing programs or macros

Requirements & Tech Stack

• Ideally majoring in Actuarial Science, Mathematics, or Statistics
• Most interns will have already passed at least one SOA exam by the time of their internship.
• Strong mathematical skills, analytical skills, initiative, and attention to detail
• Strong written and oral communication skills
• Desire to work in a team environment
• Knowledge of MS Excel or other spreadsheet applications
• Knowledge of at least one computer programming language and/or Visual Basic
• Knowledge of R, Python, or similar database applications
• Familiarity with MS Access or other database applications is preferred
• Previous or current leadership experience is preferred

Qualifications

• Freshmen, Sophomores, and Juniors enrolled as full-time students.

Working Conditions

• Interns will work hybrid in Baltimore, MD, Cedar Rapids, IA, or Philadelphia, PA. Specific location will be decided based on business needs.
• Tuesday, Wednesday, and Thursday will be in office; Monday and Friday will be work from home days.

Compensation

• The salary for this position generally ranges between $24.00 - $29.00 per hour.
• Full-time interns will receive an intern allowance to offset costs associated with relocation, housing, parking/transit, and/or mileage.

Sponsorship

• Applicants must possess legal authorization to work for Transamerica in the U.S. without the need for immigration sponsorship.
• This role is not eligible for immigration-related employment authorization sponsorship.

What We Offer

For eligible employees, Transamerica offers a comprehensive benefits package designed to support both the personal and financial well-being of our employees.

Compensation Benefits

• Competitive Pay
• Bonus for Eligible Employees

Benefits Package

• Pension Plan
• 401k Match
• Employee Stock Purchase Plan
• Tuition Reimbursement
• Disability Insurance
• Medical Insurance
• Dental Insurance
• Vision Insurance
• Employee Discounts
• Career Training & Development Opportunities

Health and Work/Life Balance Benefits

• Paid Time Off starting at 160 hours annually for employees in their first year of service.
• Ten (10) paid holidays per year (typically mirroring the New York Stock Exchange (NYSE) holidays).
• Be Well Company holistic wellness program, which includes Wellness Coaching and Reward Dollars
• Parental Leave – fifteen (15) days of paid parental leave per calendar year to eligible employees with at least one year of service.
• Adoption Assistance
• Employee Assistance Program
• Back-Up Care Program
• PTO for Volunteer Hours
• Employee Matching Gifts Program
• Employee Resource Groups
• Inclusion and Diversity Programs
• Employee Recognition Program
• Referral Bonus Programs