Associate Actuary - Risk Management
This position will assist the Actuarial Independent Review team with the following responsibilities:
Review claims and premium data quality for property and casualty insurance lines. Build benchmark reserving models and design statistical tests to review and challenge reserving model assumptions (risk segmentation, trends, loss development factors etc.) and the conceptual soundness of selected model specifications.
Keep up with industry trends and research on the latest development on reserving methodologies and acquire various external data to complement the Reserve Analysis.
Support the documentation of this view to local Boards/Committees, the AIG Audit Committee, the AIG Risk Committee and the Reserve Committee.
Work closely with pricing actuaries to understand model development inventory and work closely with modelers during review process.
Identify high risk pricing and underwriting models which require ERM review under the AIG Model Risk Management Policy.
Acquire documentation, controls, data, validation and technical specification to assess. Help guide first line to best practices if these do not exist.
Opining on methodology, trends and parameters for selected models.
Prepare reports on results of independent review to support robust governance function.
Work with various functions including actuarial, claims, underwriting, and the economics teams to build models or evaluate scenarios to quantify emerging risks and potential market shocks to enhance the company’s overall risk framework, providing insights that drive business success.
Support technical review of other non-actuarial models when requested.
AIG is ideally looking for a candidate with:
University undergraduate degree and working towards a Associate or Fellow of Casualty Actuary Society or equivalent.
A minimum of 5 years specializing in actuarial and/or risk management ideally with experience from a property and casualty (re)insurer or a consulting background if the requisite management and industry experience are evident.
Strong analytical skills, knowledge of drivers of risk and knowledge of the insurance market.
Ability to build proactive working relationships with stakeholders across various departments and effect change through use of influencing skills.
Ability to communicate complex matters in a simple and clear manner.
Opportunity can be located either in NYC, NY, Jersey City, NJ, Parsippany, NJ, or Boston, MA
For positions based in New York, the base salary range is $115,000-$145,000, for the positions based in New Jersey, the base range is $110,000-$142,000, and for positions based in Boston, the base range is $115,000-145,000. In addition, the position is eligible for a bonus in accordance with the terms of the applicable incentive plan. In addition, we’re proud to offer a range of competitive benefits, a summary of which can be viewed here:
#LI-AIG #Actuary #actuarialcareers
At AIG, we value in-person collaboration as a vital part of our culture, which is why we ask our team members to be primarily in the office. This approach helps us work together effectively and create a supportive, connected environment for our team and clients alike.
Enjoy benefits that take care of what matters
At AIG, our people are our greatest asset. We know how important it is to protect and invest in what’s most important to you. That is why we created our Total Rewards Program, a comprehensive benefits package that extends beyond time spent at work to offer benefits focused on your health, wellbeing and financial security—as well as your professional development—to bring peace of mind to you and your family.
Functional Area:
AC - Actuarial
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