Actuarial Modeling Associate
Job Overview: We are looking for a talented Actuarial Modeling Specialist to join our innovative financial services team. This position involves developing, testing, and managing actuarial models to support various functions such as valuation, pricing, reinsurance, and financial forecasting. The Actuarial Modeling Specialist will collaborate closely with the Lead Actuarial Modeler and the actuarial team to ensure the models are high-quality, well-documented, and efficient.
Primary Responsibilities:
- Assist in converting actuarial models (MYGA, FIA, MYGIA) for all actuarial applications (STAT, GAAP, CFT, Projections, Plan, Capital) from ALFA to GGY Axis.
- Support unit testing, comprehensive testing, and back-testing to ensure accuracy.
- Help optimize model structure and streamline existing model logic for better efficiency.
- Work with IT and actuarial teams to integrate the model into a production environment.
- Conduct production environment testing in collaboration with IT.
- Document model assumptions, methodologies, and governance processes.
- Support model validation efforts to ensure compliance with internal controls and regulatory standards.
- Maintain and update actuarial models as new products, assumptions, and methodologies are introduced.
- Assist in automating and improving efficiency in modeling and reporting.
- Collaborate with valuation, pricing, reinsurance, and financial reporting teams to ensure model outputs meet business requirements.
Qualifications:
- Bachelor's Degree in Actuarial Science, Mathematics, Statistics, or a related STEM field.
- Associate of the Society of Actuaries (ASA) designation or significant progress towards ASA.
- Over 4 years of actuarial experience, preferably in annuities or life insurance.
- Familiarity with actuarial modeling software (e.g., GGY AXIS preferred).
- Strong technical, analytical, and problem-solving skills.
- Ability to work effectively in a fast-paced, collaborative environment.
FAQs
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