Role Value Proposition:
As part of Global Risk Management, the Modeling Actuary will be responsible for supporting the Director within the Model Validation Team to develop benchmarking models and perform other validation activities. Models are used throughout the Global Enterprise and include those used in Financial Reporting, Cash Flow Testing, Pricing, Asset/Liability Management, Economic Capital, and Risk Based Capital. Other models include derivatives, structured, alternatives, credit risk and other complex investment related models.
- Build independent challenger models for various products in different platforms to benchmark existing models.
- Evaluate appropriateness of assumptions, data sources, and reliability of inputs.
- Assess the actuarial, mathematical, statistical, theoretical, and conceptual soundness of each model.
- Assist in writing and reviewing validation reports illustrating the relevant results of theoretical review and testing, calling attention to areas of concern and/or uncertainty.
- Monitor findings, recommendations, and managements action plan resulting from validation reports ensuring actions taken appropriately address the concerns.
- Prepare metrics for reporting as necessary.
Essential Business Experience and Technical Skills:
- ASA/FSA, FSA preferred.
- Bachelor's Degree in Mathematics, Statistics, Actuarial science, Physics, or Financial Engineering.
- Competency in actuarial models (e.g. Prophet, MoSes, etc.).
- High level programming languages such as C++ is a requirement.
- 5+ years’ experience working in the insurance industry.
- Broad knowledge of insurance products.
- Master’s Degree in Mathematics, Physics, or Financial Engineering is highly desired.
- Experience with high level programming languages such as C++, MatLab, and VBA.
- Knowledge of asset modeling including derivatives.
- Excellent verbal and written communication skills.
- Ability to work on multiple projects.
- Experience working in a matrix structure.
- Good interpersonal skills.
- Strong analytical skills of complex models and products.