Mainly responsible for the development and maintenance of actuarial models primarily for our Term and UL business, including GGY AXIS & MG-ALFA models used in Valuation, Corporate Planning, Solvency II, Cash Flow Testing, and Financial Reinsurance, as well as meeting all the model validation and documentation requirements defined by company model governance policy for all model development activities.
- Develop and maintain GGY AXIS & MG-ALFA models primarily for Term and UL business for a variety of purposes, including Valuation, Value of New Business, Cash Flow Testing, and Corporate Planning, Solvency II, and Financial Reinsurance, as we migrate our actuarial platform from MG-ALFA to GGY-AXIS.
- Serve as model code peer reviewer and test the models to ensure that they are appropriately built and fit for the purposes of all the modeling requirements as work demands may require across corporate actuarial.
- Involved in model development in GGY-AXIS, as we transition to the new platform. Assist in validating AXIS models against existing ALFA models during the transition period.
- Liaise with model governance, valuation, finance, asset modeling, and financial planning team members to ensure models built using MG-ALFA, GGY Axis, Excel, SQL, or other software are fit for the intended purpose and built according to the model specifications.
- Providing modeling support to internal customers as needed. Possible examples include reinsurance deal pricing, impact analysis for reinsurance treaty negotiation, etc.
- Ensure model control is maintained around production models, to prevent unauthorized changes and ensure integrity of model results. Maintain detailed documentation of all changes made to models, including impacts under key reporting bases and evidence of management approval.
- Identify and implement process improvements, including automation of manual tasks where possible, to increase efficiency and transparency while minimizing the risk of errors
- Other duties as required.
- BS/BA Math/Statistics.
- Working towards Associate, Society of Actuaries - 4+ SOA Exams
- Minimum of 4 years of life insurance/actuarial experience
- Term and UL experience required
- Pension Risk Transfer (PRT) experience is a plus
- Model development or modeling experience required
- Experience in multiple accounting methods (statutory, GAAP, Tax, PBR, Solvency II, IFRS) preferred
- Actuarial software skills – GGY-AXIS experience key requirement, MG-ALFA experience a plus
- Spreadsheet and database capabilities (Excel, MS Access, VBA, SQL)
- Strong actuarial analytical skills and problem solving ability
- Proficient written and oral communication skills
- Ability to multi-task in a deadline-oriented environment