Model Risk Actuary

  • 37968
  • Life - Actuarial
  • |
  • New Jersey, United States
  • |
  • Aug 14, 2020
Insurance
RESPONSIBILITIES
  • Independent model reviews and testing of models.
  • Review model documentation, evaluate risks and propose review strategies.
  • Build independent challenger models and other analytical tools as needed.
  • Perform model output analytics.
  • Research relevant regulatory frameworks, underlying products, assumptions and methodologies.
  • Use data science skills and knowledge to evaluate the design of predictive analytics tools.
  • Create a comprehensive model review report.
  • Be exposed to multiple lines of business and model types: pricing, financial reporting, capital, forecasting and others.
  • Monitoring of model control standards, model risk assessments, and model issue remediation in partnership.
  • Work closely with others, both inside and outside the team.
QUALIFICATIONS
  • Degree in Actuarial Science, Data Science, Mathematics, Financial Engineering, Economics, Business, Science-based, or another analytical field.
  • Successfully passed one or more actuarial exams.
  • Experience with data analytics tools such as Python, R, or equivalent for statistical modeling of large data sets.
  • Experience working in an actuarial position is a plus.
  • Experience in model development, implementation and/or validation is a plus.
  • Knowledge of life insurance, annuities, non-life insurance or retirement products is a plus.
  • Strong communication skills, both written and verbal.
  • Knowledge of software packages used in business communication such as MS Excel, Word and PowerPoint.
  • Knowledge of relevant software packages, such as AXIS, ALFA, Prophet, MATLAB, VBA, SAS software is a plus.