Sept. 16 Act Sci Event: Actuarial Internship Program (Summer 2022)
Responsibilities
You will be part of a community of over 100 actuaries at the company. You will have the chance to develop and use technical skills to do actuarial research and calculations, and provide actuarial services and support to departments throughout the company. You will also learn about Principal, and about the key roles that actuaries play here. We’ll provide you with guidance on how to apply professional standards that relate to actuaries at all levels.
Projects and responsibilities vary based on business need, but here are a few examples of what previous interns have accomplished:
- Cluster Modeling Project – efficient method of compressing a model with the goal of improving the runtime. Retirement and Income Solutions Financial Modeling Team
- Updating experience studies – this project involves looking through our data to determine the frequency and severity of our claims across demographic groups. What we find directly affects the pricing of our products by setting assumptions based on both our internal experience and industry-wide experience. Specialty Benefits Division Individual Disability (IDI) Team
- SAS Asset Reporting Tool - help us understand why things are changing from projection to projection, allowing us to better analyze future performance from block to block. Retirement and Income Solutions Financial Modeling Team
- Analysis of Foreign Exchange Rates – explore the impact of fluctuations in foreign currencies on Principal’s international insurance and retirement businesses. This work helps our international business enhance its strategy around how we manage the complex risks of the global marketplace. Specific responsibilities included: identifying model elements most likely to be impacted by the economic environment, designing and running test scenarios, analyzing results, summarizing findings in a memo. Principal International Actuarial Team
What’s a CodeJam?
Have you heard of an Actuarial Intern CodeJam? We didn’t think so - consider it a hackathon for actuaries. You’ll work with an all-intern team to identify and implement a solution to a business problem. Check out what Mitch (Maryville University) had to say about it: “I had a very helpful and talented team, as well as very fun and encouraging project leaders. CodeJam was an excellent way to stir up the talents among the actuarial interns to not only take on difficult tasks, but also to increase our understanding of the company as a whole. I think the experience strongly reflected the core values of Principal and should definitely be made into a tradition.”
Want to hear more?!
Make sure to navigate over to our Actuarial Careers Page! This page has videos, testimonies from our previous interns and much more.
What to expect from your internship?
We’re committed to providing you a great experience. This past summer, we held our first ever virtual based internship program – and had great success. We’re continuing to create plans to provide you the best experience and will share updates regarding the location throughout the interview process.
Qualifications
Required Skills
- Current enrollment at a college/university or completed degree with focused studies in actuarial science, statistics, mathematics or related majors
- Desire to be successful in the education system of the Society of Actuaries. 1-3 passed exams is preferred.
- Strong analytical, problem-solving and effective communication skills are required.
- Candidates must be able to balance collaborative and independent work. We also want candidates who are up for a challenge and are ready to meet and exceed high expectations.
- Candidates should demonstrate the desire and ability to develop into business leaders so be sure you include examples of informal and/or formal leadership on your resume.
Preferences
- Knowledge of Excel, database or actuarial modeling tools or the ability to learn.
- Strong preference will be given to students who are fluent in English and any of the following languages: Mandarin, Spanish, and/or Portuguese
Additional Information
See your future. And make it real.
Starting your career on the right track is important. That’s why we offer you a hands-on internship program full of focused activities and opportunities to gain experience, make connections, and learn the business from the inside out.
Whether your internship is virtual or onsite, here’s what you can expect:
- Meet with senior executives and work alongside with experienced professionals
- Gain career direction to help you achieve your professional and personal goals
- Contribute to work that helps more people and businesses around the world save enough, have enough and protect enough
- Explore new perspectives in an inclusive, welcoming culture.
Work Authorization/Sponsorship
At this time, we're not considering candidates that need any type of immigration sponsorship now or in the future or those needing work authorization for this role. (This includes, but is not limited to students on F1-OPT, F1-CPT, J-1, etc.)
Investment Code of Ethics
For Principal Global Investors positions, you’ll need to follow an Investment Code of Ethics related to personal and business conduct as well as personal trading activities for you and members of your household. These same requirements may also apply to other positions across the organization.
Experience Principal
While our expertise spans the globe, we're bound by one common purpose: to foster a world where financial security is accessible to all. And our success depends on the unique experiences, backgrounds, and talents of our employees – individually and all of us together. Explore our core values, benefits and why we’re an exceptional place to grow your career.
Principal is an Equal Opportunity Employer
All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or veteran status.