In this role, you will act as a key partner to the business unit model and process owners with respect to controls and model and EUT governance. A key aspect of the role is leading L&R model governance efforts as the L&R Model Officer. In addition, the position defines modeling, documentation, and control standards and best practices, and communicates and influences numerous internal and external stakeholders. This role also includes special projects supporting the L&R Chief Actuary.
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• Fulfill the Model Officer role for L&R as stated in the AIG Model Risk Mgmt. Policy. This includes managing the model validation process and model compliance for Consumer L&R, Institutional Markets, and some L&R finance models. Liaise between the business unit model owners and executives, and the Model Risk Management group.
• Manage and support staff to comply with the End User Tool (EUT) Policy for L&R’s actuarial EUTs.
• Develop best practices related to controls and control documentation; prepare training materials and host training sessions. Liaise between the business unit process owners and the Financial Controls Unit (FCU) and our external auditors (PwC) to promote smooth audit walk-throughs resulting in fewer audit issues.
• Provide in-depth on-the-job training on best practices with respect to actuarial work product, including model design and validation, documentation and communication, including development of specific “gold-standard” examples by functional area.
• In coordination with our global actuarial team, develop and deliver an ongoing training program on AIG standards and policies.
• Provide thought leadership to the Project Halley team with respect to the planning, testing, validation, and documentation requirements during the model development, implementation, and production phases.
• Other special projects, on behalf of the L&R Chief Actuary, as needed. These projects may include coordination of L&R analyses and responses in connection with U.S. and global regulatory activities, providing peer review for business line Chief Finance Actuaries, etc.
Position Requirements:
The Ideal Candidate Should Have
• Have 10+ years of professional experience in life and annuity insurance industry, with focus on financial modeling and model governance.
• Deep understanding of complexities of financial modeling and financial reporting including U.S. statutory, GAAP and tax. FSA preferred.
• Broad product knowledge of U.S. life insurance and annuity products.
• Excellent communication and interpersonal skills, including ability to adapt styles and approaches.
• Demonstrated leadership and project management skills.
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