American International Group, Inc. (AIG) is a leading global insurance organization. Building on 100 years of experience, today AIG member companies provide a wide range of property casualty insurance, life insurance, retirement solutions, and other financial services to customers in more than 80 countries and jurisdictions. These diverse offerings include products and services that help businesses and individuals protect their assets, manage risks and provide for retirement security.
Corporate operations provide a wide range of services to the organization such as finance, internal audit, communications, security, enterprise risk management and human resources.
Get to know the business
AIG has an opportunity for a Senior Actuarial Analyst/Modeler – Risk in the Actuarial Challenge Group within the Enterprise Risk Management function. Our team reviews General Insurance models spanning from traditional actuarial reserving models and profitability studies, to stochastic reserving models, predictive pricing models and machine learning models. This role will be actively involved in technical reviews of the General Insurance model suite, managing the relationships with various stakeholders, assisting model risk management and model governance.
The position provides remote working opportunity for a strong candidate.
About the role
We want to hear from you today if you can:
- Manage the review of Property and Casualty insurance reserving models: Review claims and premium data quality for property and casualty insurance lines. Build benchmark reserving models and design statistical tests to review and challenge reserving model assumptions (risk segmentation, trends, loss development factors etc.) and the conceptual soundness of selected model specifications. Conduct contemporaneous review on General Insurance reserves and report key findings to senior management. Keep up with industry trends and research on the latest development on reserving methodologies.
- Manage reviews of Property and Casualty insurance pricing models: Review claims and exposure data quality and reconcile data across various sources. Enhance and streamline pricing model documentation. Implement statistical tests to review and challenge actuarial assumptions underlying pricing models. Build benchmark pricing models and implement statistical tests in R, Python, MATLAB or SAS to validate the conceptual soundness of pricing models. Perform ad-hoc requests to assist underwriting decision making.
- Assist with the effective communication and presentation of model review findings to Enterprise Risk Management leadership, Finance Actuarial, Underwriting, and other stakeholders.
- Assist model governance and model risk reporting.
What we are looking for
- Graduate degree in statistics or a related field preferred.
- ACAS or FCAS preferred.
- 4 or more years of P/C actuarial experience in pricing, reserving, financial/insurance risk modeling.
- Track record of technical model development is preferred.
- Competence with programming in R, Python, MATLAB, SAS or equivalent software platforms for extracting/manipulating data and conducting independent tests on models.
- Excellent written and verbal communication skills.
- Effective interpersonal and communication skills conducive to forming strong relationships with internal as well as external groups.
What our employees like most about working for AIG
- We care about your professional development. Our career progression program will provide you with the opportunity to develop your skills, strengthen your productivity and be eligible to progressively advance to positions with an increased responsibility and increased compensation.
- Our “Giving Back” policy is at the core of our daily operations and guides our future progress. Don’t believe us? We put our money where our mouth is! AIG, will give you up to 16 hours a year paid time off to volunteer in the community.
- Our people are our most important asset therefore we provide a generous benefits plan and competitive pay. Benefit package includes:
- Paid Time Off (AIG recognizes the importance of work life balance). We offer 24 PTO days to start. YES, 24! 9 paid holidays per calendar year.
- A 401(k) Retirement Plan which will be HARD TO BEAT. Our 401K – $1 for $1 match up to 6% with immediate vesting, plus AIG automatically contributes an additional 3% in to your 401K regardless of if you enroll or not.
American International Group, Inc. (AIG) is a leading global insurance organization. Founded in 1919, today AIG member companies provide a wide range of property casualty insurance, life insurance, retirement products, and other financial services to customers in more than 80 countries and jurisdictions. These diverse offerings include products and services that help businesses and individuals protect their assets, manage risks and provide for retirement security. AIG common stock is listed on the New York Stock Exchange and the Tokyo Stock Exchange.
Join our Talent Network at http://www.aig.com/careers/life-at-aig/join-the-talent-network. Additional information about AIG can be found at www.aig.com and http:// www.aig.com/strategyupdate | YouTube: http://www.youtube.com/aig | Twitter: @AIGinsurance | LinkedIn: http://www.linkedin.com/company/aig. These references with additional information about AIG have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release.