Model Risk Actuary
RemoteNew York, United States or Texas, United States
Job Summary
Maintain and administer the company's model and assumption governance frameworks aligned with regulatory requirements. Identify, assess, monitor, and report on model risk within the enterprise risk management framework while serving as secretary to the Model and Assumption Governance Committee. Perform independent validations of actuarial and financial models, lead annual review of model risk ratings, and oversee model change processes ensuring proper testing and approval. Manage inventories of all models and assumptions, monitor limitations and biases, and support the annual review of actuarial assumptions. Collaborate with actuarial, finance, underwriting, and risk teams to embed model risk awareness and provide training on model risk principles. Support technical review of pricing initiatives and implement a data governance framework for actuarial and financial uses.
Required Qualifications
- FSA or equivalent
- Bachelor's degree in Actuarial Science, Mathematics, Statistics, Economics or related field
- 5 years of relevant experience
- ASA or equivalent professional designation
- 7 years of relevant experience
- Prior experience in model governance, assumption governance, or risk management
- Strong understanding of stochastic modeling, financial reporting, and regulatory frameworks (e.g., US GAAP, Bermuda EBS)
- Proficiency in actuarial software and data analytics tools
- Excellent communication and influencing skills
- Ability to challenge constructively and manage cross-functional relationships
- Advanced Microsoft Office skills (Excel, Word, PowerPoint)
- Demonstrated ability to manage multiple priorities and meet deadlines in fast-paced environment
- High degree of attention to detail and excellent problem-solving skills
- Capable of summarizing and communicating complex topics clearly and succinctly
- Ability to work independently and as part of a team
- High ethical standards and integrity
- Must be able to lift 15 pounds at times
Desired Qualifications
- Master's in a listed discipline (Actuarial Science, Mathematics, Statistics, Economics or related field)
- 3 years of relevant experience (in lieu of Bachelor's)
- Remote position from candidates residing in the Eastern/Central United States
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