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What You'll Do

Are you looking for an opportunity to expand your technical skills, communication skills, and industry knowledge? If so, consider joining the Principal internship program and provide actuarial services and support to the many different lines of business we have here!

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.

• Updating experience studies – looking through our data to identify the frequency and severity of our claims across demographic groups. Findings directly affect the pricing of our products by setting assumptions based on both our internal experience and industry-wide experience.

• 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.

• 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 to improve its strategy around how we handle the complex risks of the global marketplace.

• Other responsibilities could include: identifying model elements most likely to be impacted by the economic environment, designing and running test scenarios, analyzing results, and summarizing findings.

Benefits you’ll receive through this internship:

• Learn from and work with credentialed actuaries, including an assigned mentor.

• Meaningful and challenging work at a company that values authenticity and encourages curiosity.

• Small group meetings with Senior Actuarial Leadership.

Make sure to navigate over to our Actuarial Careers Page (https://www.principal.com/actuarial-careers-principal) for videos and testimonies from our previous interns.

Who You Are

• Current enrollment at a college/university or completed degree with focused studies in actuarial science, statistics, mathematics or related majors.

• Ability to pass actuarial exams and a dedication to pursue an FSA with the Society of Actuaries.

• Knowledge of actuarial mathematics, including probability, statistics, numerical analysis and compound interest.

• Collaborative communication skills and an eagerness for continuous learning.

Skills That Will Help You Stand Out:

• At least one actuarial exam completed and passed.

• Knowledge of Excel, database, or actuarial modeling tools.

• Informal or formal leadership experience.

Salary Range Information

Salary ranges below reflect targeted base salaries. Non-sales positions have the opportunity to participate in a bonus program. Sales positions are eligible for sales incentives, and in some instances a bonus plan, whereby total compensation may far exceed base salary depending on individual performance. Actual compensation for all roles will be based upon geographic location, work experience, education, licensure requirements and/or skill level and will be finalized at the time of offer.

Salary Range (Non-Exempt expressed as hourly; Exempt expressed as yearly)

$23 - $27 / hour

Time Off Program

Paid company holidays and any time off required in your state.

Pension Eligible

No

Additional Information

Our Internship Culture

Join an established program that provides hands-on experiences for 200+ interns each year. You'll learn new skills with dedicated teams and mentors, build your professional network and collaborate across a global Fortune 500 company. We care about offering you diverse experiences and exciting challenges that push you to reach for bigger life goals, all while enjoying our flexibility and work life balance. Join us for events such as our Executive Speaker Series, gain career direction, and much more! Internships at Principal (https://www.principal.com/about-us/careers/internships)

Internship Stipend and Housing

Principal will be providing furnished housing for you during your internship. You may be paired with a roommate during this time. You will also receive a one-time $500 (net) travel stipend. The Company will provide a tax gross-up on this stipend as a financial benefit, but is not intended to compensate for all tax liabilities.

Work Environments

This role is located at our world headquarters in Des Moines, IA. We offer the ability for in-office, and hybrid (blending at least three office days in a typical workweek) work arrangements. You’ll work with your leader to figure out which option may align best based on several factors.

Work Authorization/Sponsorship

At this time, we're not considering applicants that need any type of immigration sponsorship (additional work authorization or permanent work authorization) now or in the future to work in the United States. This includes, but IS NOT LIMITED TO: F1-OPT, F1-CPT, H-1B, TN, L-1, J-1, etc. For additional information around work authorization needs please use the following links.

Nonimmigrant Workers (https://www.uscis.gov/working-in-the-united-states/temporary-nonimmigrant-workers) and Green Card for Employment-Based Immigrants (https://www.uscis.gov/green-card/green-card-eligibility/green-card-for-employment-based-immigrants)

Investment Code of Ethics

For Principal Asset Management 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

At Principal, we value connecting on both a personal and professional level. Together, we’re imagining a more purpose-led future for financial services – and that starts with you. Our success depends on the unique experiences, backgrounds, and talents of our interns.

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.

Posting Window

We will accept applications for 3 full days following the Original Posting Date, after which the posting may remain open or be removed based upon applications received. If we choose to post the job again, we will accept additional applications for at least 1 full day following the Most Recently Posted Date. Please submit applications in a timely manner as there is no guarantee the posting will be available beyond the applicable deadline.

Original Posting Date

7/29/2024

Most Recently Posted Date

7/29/2024