Senior Actuarial Associate

Resolution Life

7d•Hybrid

About The Position

We are looking for a highly skilled and motivated aspiring Actuary to join our dynamic risk team. The Senior Actuarial Associate will support the identification, management and mitigation of risks associated with the use and business dependency of models across the Company. The Senior Actuarial Associate will advance the Company’s model risk management framework through sound change management, governance, validation, documentation, inventory oversight, adoption of best practices to ensure compliance with not only internal policies and standards, but also regulatory standards.

Requirements

Bachelor’s degree in a quantitative field (e.g., Actuarial Science, Mathematics, Statistics, Finance, or Engineering)
A minimum 3+ years of actuarial experience, ideally Life Insurance sector
Experience running and validating models
Familiarity with model life cycle management
A minimum Actuarial Credential of an Associateship of the Society of Actuaries (ASA)
Superior oral and written communication skills
Excellent time management skills to prioritize timelines
Strong excel skills and solid technical experience
Strong organizational skills, detail-oriented and able to work independently
Ability to work collaboratively and effectively
Advanced problem-solving skills and attention to detail
Willingness to learn and able to work effectively as part of a team

Nice To Haves

Proficient knowledge of model risk frameworks and regulatory guidelines is a plus.
Has thorough understanding of insurance products and processes, reserves, assets, liabilities, and financial statements, preferred

Responsibilities

Partner with key stakeholders from the actuarial, finance, tax, treasury, growth and investment areas to foster a model risk aware culture across the company
Develop the infrastructure that properly enables execution of the model risk framework including templates, one-pagers, educational sessions, and process enhancements
Promptly support requests from internal and external auditors
Ensure model documentation from model owners is current and compliant with internal and regulatory standards
Ensure completion and adequacy of model validations in accordance with the models’ risk ratings
Support secretarial duties of the model subcommittee
Survey the business for new models or significant model changes and integrate within the framework as appropriate
Challenge models on their accuracy, reliability, and performance through model validation
Develop challenger models or benchmarks where appropriate to test material assumptions and outputs
Demonstrate and support Company compliance with regulatory standards
Strengthen consistency in model-related processes throughout the company by collaborating with those supporting the Bermuda and UK operations, respectively.
Leverage the Company’s Governance, Risk and Compliance (“GRC”) tool capabilities for controls, findings, remediation plans and inventory purposes working closely with model owners and members of the operational risk management team
Support current and new model owners to foster awareness of the key requirements of the model risk framework including risk rating, inventory update, change management, documentation and model validation
Actively manage a model inventory that comprehensively and accurately reflects the company’s models and current risk profile
Maintain model risk policy and supporting standards ensuring compliance and attesting to model risk management at the Company
Monitor emerging trends and regulatory changes
This role is expected to apply best practice standards to the Model Risk Framework, including identification, documentation, validation, and governance of Models.