The Associate Actuary will be a member of an actuarial modeling QA test team, which is responsible for end to end testing of the individual life models. The team is responsible for proposing test plan and obtaining stakeholder sign-off, the creation and maintenance of independent testing tools, the validation of the model calculations, controls and reports in the self-serve reporting infrastructure, communicating testing feedback to the model development team and completing the test results documentation. The model purposes the test team will work on are, but not limited to, asset adequacy, asset liability management, statutory, tax and GAAP valuation.
Detailed responsibilities include but not limited to:
* Assist with development of test plans for validation of model functionality and assessing validity of approximations/proxy approaches, including identification of sample model points which cover key policy features and isolate areas of potential error, and selection of assumptions/scenarios to run against this set of model points for back testing, sensitivity testing and stress testing
* Creation/maintenance of benchmark testing tools, including developing spreadsheets/programs based on model specifications to replicate model functionality and assembling benchmark data for model comparisons
* Execute test plan
* Documentation of testing and results, including actions taken upon uncovering model defects
* Work with actuarial units, finance teams, and Business units across the organization to understand stakeholder requirements
* Implementation of industry modeling best practices by the development of coding and control standards for testing tools developed in Excel or other programming platforms
* Manage portions of the project and provide guidance to other team members
* 5 years of progressively more responsible actuarial experience with individual life insurance products (UL, WL, Term)
* BS degree in Actuarial Science, Mathematics, Statistics, Economics, Finance, or other quantitative field
* Fellowship of the Society of Actuaries
* Prior management experience is a plus
* Model experience (GGY AXIS preferred)
* Good verbal and written communication skills
* Ability to work independently and within a team
* Detail oriented
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Position Type: Full-Time Permanent
Years of Experience Required: