As a part of AIG’s Life & Retirement (L&R) Enterprise Risk Management (ERM) function, the Managing Director for L&R Risk Analytics, Capital, Reserve, Risk Governance & Reporting plays a critical role in developing, implementing and supporting enterprise-wide initiatives across the risk spectrum. Scope will include enhancement of risk analytics including Internal Capital, Market-based Analysis, review and challenge of Capital Plans and reconciliation of different capital and accounting views, review and challenge of L&R Reserves and related Actuarial Judgements. Additionally, with the support of several staff members, this role will be expected to complete multiple L&R Reserve deep dives each year along with Risk Governance Framework enhancement – this includes refreshing or developing risk policies, procedures, the creation of our Risk Appetite statement and Business Unit level limits, as well as target ranges and thresholds, and coordination of L&R RCC meetings and the critical review and preparation for such meetings. Lastly, this role will provide oversight for the regular development and production of L&R risk reports for various purposes including the L&R RCC, L&R MBR/QBR, Regulators, Rating Agencies, Board Meetings and ad hoc requests.
Support the ongoing implementation and enhancement of AIG’s Internal Capital (IC) and Market Based Embedded Value (MBEV) framework pertinent to the L&R business.
Work with Central ERM staff/management on specifics related to L&R business and in general for consistency where appropriate with rest of AIG (to include methodology, policy and/or related assumptions).
Support L&R LoB RO teams in socializing results and responding to R&C from business.
Define stress testing requirements for L&R LoBs (working with Central), stand behind and explain the definition of stress testing, it’s purpose and the value to the organization.
Function as a subject matter expert resource for different capital regimes used by L&R businesses for different purposes. Review and opine on reconciliation of different capital model results and confirm their appropriate use and understanding.
Review and challenge L&R Reserves and related actuarial judgement on a contemporaneous and ad hoc deep dive basis with formal documentation and communication to various parties.
Manage definition, execution and compliance to AIG L&R Risk Governance Framework – including maintaining a central library of appropriate documentation with version control, requirements for refresh of policies and procedures, Risk Appetite Statement, Limits, Targets and Thresholds (LTT), definition/charters of L&R committees, planning and critical preparation for L&R RCC meetings, etc.
Oversight of regular production of critical Risk reports for various purposes/audiences. Assure optimal production (timing & quality) and consistency of information reported to various parties.
Partner with L&R CRO, L&R LoB ROs, other ERM experts (L&R level and Central level) in support of an ongoing effort to continuously improve risk culture at AIG (and L&R), driving transparency in communication, clear understanding of messaging and decision making, ethical behavior and increased employee engagement.
Ensure organizational structure and staff members of area is appropriate, high producing and engaged. Manage resources effectively and appropriately – supporting HR & ERM objectives.
Serve as a resource to represent the L&R CRO in executive and other business meetings as necessary.
The Ideal Candidate Should Have
Bachelor's degree in Actuarial Science, Finance, Mathematics or related field; advanced degree or professional designation preferred .
15+ years of experience in Actuarial, Risk, Finance, or related field.
Knowledge of Economic Capital (EC) and Embedded Value (EV).
Experience with stress testing and different capital regimes a plus.
Fellow of the Society of Actuaries (FSA) or equivalent.
Strong verbal and written communication skills with ability to convey complex concepts to various audiences in a clear, focused, and concise manner.
Ability to build relationships and collaborate with all levels of management and partners across the organization.
Strong attention to detail and accuracy along with excellent documentation skills.
Experience with actuarial modeling platforms (TAS, Prophet, MoSes or GGY AXIS).
Experience with data analytics software such as SAS, R, or Python a plus.
Experience with managing multiple team/team members – technical and non-technical preferred.
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