8-10 years of actuarial modeling experience in Life Insurance and Annuities
Strong expertise in MG-ALFA (mandatory)
Hands-on experience with Asset Liability Modeling (ALM)
Experience in Cash Flow Testing (CFT)
Proficient in Asset Adequacy Testing (AAT)
Skilled in Valuation and Projection Modeling
Knowledge of Scenario and Sensitivity Testing and Model Validation
Responsibilities
Develop and enhance actuarial models in MG-ALFA
Configure model inputs, assumptions, and calculation logic
Perform model conversions and platform enhancements
Conduct deterministic and stochastic cash flow projections
Support Asset Liability Management (ALM) studies
Assist in valuation activities for STAT, GAAP, and LDTI
Perform model testing, validation, and benchmarking
Collaborate with finance, investments, and risk management teams
Benefits
Collaborative work environment
Opportunities for professional development
Engagement with senior stakeholders
Involvement in innovative product implementations
Support for offshore-onshore delivery and client interactions
Full Job Description
Job Description
Key Responsibilities
MG-ALFA Model Development & Maintenance
Develop, maintain, and enhance actuarial models in MG-ALFA.
Configure and update model inputs, assumptions, product specifications, and calculation logic.
Perform model conversions, model modernization, and platform enhancements.
Support implementation of new products and regulatory requirements within actuarial models.
Asset & Liability Cash Flow Modeling
Perform deterministic and stochastic cash flow projections for Life and Annuity products.
Model asset and liability cash flows under various economic and business scenarios.
Support Asset Liability Management (ALM) studies and business planning exercises.
Evaluate impact of interest rate movements, policyholder behaviour, and investment strategies on profitability and capital.
Regulatory & Financial Reporting Support
Support valuation and projection activities for STAT, GAAP, LDTI, and economic balance sheet applications.
Assist in Asset Adequacy Testing (AAT), Cash Flow Testing (CFT), and reserve adequacy assessments.
Analyze results and explain movements in reserves, earnings, and capital metrics.
Model Validation & Governance
Perform model testing, validation, reconciliation, and benchmarking.
Investigate and resolve model setup, assumption, and projection issues.
Participate in model governance, documentation, peer review, and audit support.
Ensure regulatory and actuarial standards compliance.
Stakeholder Collaboration
Work closely with valuation, modeling, finance, investments, and risk management teams.
Present modeling results, business insights, and recommendations to senior stakeholders.
Support offshore-onshore delivery and client interactions.
Responsibilities
Experience working with:
Bermuda Regulation (Preferred)
STAT
GAAP / LDTI
Strong understanding of:
Mortality, lapse, expense, and investment assumptions
Asset reinvestment strategies
Interest rate and economic scenario modeling
Life insurance and annuity products
Qualifications
Candidate Profile
8-10 years of actuarial modeling experience within Life Insurance and Annuities
Strong expertise in MG-ALFA (mandatory)
Hands-on experience with:
Asset Liability Modeling (ALM)
Cash Flow Testing (CFT)
Asset Adequacy Testing (AAT)
Valuation and Projection Modeling
Scenario and Sensitivity Testing
Model Validation and Governance
About EXL Service
EXL Service is a leading operations management and analytics company that helps businesses enhance growth and profitability. The company provides services in areas such as finance and accounting, customer service, and healthcare. EXL Service was founded in 1999 and is headquartered in New York, New York.
