When you join New York Life, you’re joining a company that values development, career growth, collaboration, innovation, and diversity & inclusion. We want employees to feel proud about being part of a company that is committed to doing the right thing. Through various resources and programs, you can grow your career while developing personally and professionally.
The Actuarial Model Validation (AMV) team is responsible for the independent validation of the company’s actuarial models, including but not limited to ALM, Valuation, and Pricing models. Working in AMV provides a unique opportunity for actuaries to apply technical skills and actuarial expertise to a variety of models used across the businesses, to gain experience analyzing models with interconnected (insurance and non-insurance) risks, and to develop expertise in an independent risk management approach. Reporting to the AMV Lead, the Actuarial Associate will contribute to assessing aggregate model risk and identifying potential and emerging model risks at the company.
- Participate in independent validation for key models based on internal Model Risk Management (MRM) policy and procedures, regulatory guidance, and the industry’s leading practices
- Build benchmarking and testing models used for model validation and monitoring, as needed
- Produce validation reports following MRM internal standards
- Communicate findings and recommendations from assessments to model owners and model users, as applicable
- Understand and articulate new and enhanced features of insurance and annuity products
- Quantify company risk exposure and propose ways to minimize risk
- Perform actuarial research and statistical analyses in special projects as needed
- Bachelor’s degree with cumulative GPA of 3.0 or higher; preferred majors: Actuarial Science, Mathematics, Statistics, Engineering, Economics, or Finance
- Passage of 3 or more SOA exams required.
- 2 years prior full-time actuarial or analytical experience. Preferred experience in a model development or model validation role
- Strong technical skills, including experience with actuarial modeling packages and spreadsheet/database software; knowledge of programming languages is a plus
- Position reuquires a general understanding of life insurance and annuity products
- Strong problem solving, decision making and communication skills
Recognized as one of Fortune’s World’s Most Admired Companies, New York Life is committed to improving local communities through a culture of employee giving and volunteerism, supported by our Foundation . We invite you to bring your talents to New York Life, so we can continue to help families and businesses “Be Good At Life.” To learn more, please visit LinkedIn , our Newsroom and the Careers page of www.NewYorkLife.com .
Job Requisition ID: 84973