Associate Director- L&R Asset Liability Management
AC - Actuarial
Estimated Travel Percentage (%): Up to 25%
Relocation Provided: No
American General Life Insurance Company
Position can be based in NYC, Houston, Nashville or Woodland Hills,CA
Reporting Relationships and Organizational Scope
This position will report into to the L&R ALM unit within the Life & Retirement Actuarial ICALM organization. The ICALM organization is responsible for the entire AIG L&R actuarial projection modeling process including governance, research and development, and production supporting cash flow testing, ALM, and other strategic analyses. Within ICALM, the ALM team serves as a liaison between key stakeholders for market risk management including L&R Actuarial, Finance, ERM and Investments. This individual will be responsible for understanding the end-to-end ALM modeling process, developing ALM risk dashboard, and supporting the strategic ALM initiatives within the team including the development of interest rate risk management/hedging strategies for various product portfolios. This role will have frequent and regular interaction with the subject matter experts across AIG L&R Actuarial, Finance, ERM and Investments areas.
Role and Responsibilities
- Assist in the L&R ALM strategic initiatives such as development, design and analysis of interest rate risk management/hedging strategies for various lines of business.
- Liaise with the BU leaders to compile the ALM requirements, and work with them to develop and articulate the overall ALM objectives and strategy.
- Manage the quarterly ALM risk reporting process in coordinating with Investment Analytics and the liability modeling teams.
- Support the ongoing L&R ALM process transformation including the transition of the ALM projection modeling platform, working with IT partners to oversee process automation and streamline data inputs for the regular ALM risk reporting.
- Work closely with the Investments and actuarial teams to develop proposals for strategic asset allocation and duration targets and help evaluate alternative approaches to the optimization of the asset targets.
- Manage the ongoing development of ALM methodology documentation, and detailed end to end process map for ALM reporting.
The ideal candidate will have significant actuarial and finance experience across a wide range of life insurance and retirement products and have deep knowledge of the applications of actuarial projections in asset liability management. The successful candidate must possess excellent business acumen, strong technical and analytical skills, and a strong ability for multi-tasking in order to manage ALM deliverables for multiple stakeholders across the organization. The candidate must possess strong communication qualities to be able to effectively lead cross-functional ALM discussions, implement ALM process transformation and change agenda, and work with multiple stakeholders to help develop the overall ALM strategy.
An undergraduate degree in Actuarial Sciences, Finance, Statistics or a related field is required. Industry credentials such as Fellow of the Society of Actuaries (FSA), Member of the American Academy of Actuaries (MAAA), Chartered Financial Analyst (CFA), Financial Risk Manager (FRM) or other related credentials are strongly desired.
- 7+ years of progressively more responsible actuarial experience in the life and retirement industry, with a focus on asset liability management and economic valuation concepts.
- Significant expertise working with Prophet, TAS, MoSes, or GGY-AXIS modeling software a plus.
- Progressive experience in a large actuarial or finance organization.
- Strong knowledge of actuarial projection techniques across all valuation bases: statutory, GAAP, economic, and tax.
- Goal oriented and well-organized, with the ability to develop and manage disciplined processes.
- Excellent written and oral communication skills.
- Deep understanding of a wide range of life insurance and retirement products.
- Utilizes conceptual and analytical skills to develop solutions to complex problems.
- Ability to build effective teams: blending teams when required, fosters strong team morale, ensures open dialogue
- Customer focus: dedicated to meeting the expectations and requirements of internal and external customers and establishes/maintains effective relationships
- Self-knowledge: knows personal strengths and weaknesses, opportunities, and limits, seeks feedback and is receptive to criticism
- Effectively deals with ambiguity
It has been and will continue to be the policy of American International Group, Inc., its subsidiaries and affiliates to be an Equal Opportunity Employer. We provide equal opportunity to all qualified individuals regardless of race, color, religion, age, gender, gender expression, national origin, veteran status, disability or any other legally protected categories.
At AIG, we believe that diversity and inclusion are critical to our future and our mission - creating a foundation for a creative workplace that leads to innovation, growth, and profitability. Through a wide variety of programs and initiatives, we invest in each employee, seeking to ensure that our people are not only respected as individuals, but also truly valued for their unique perspectives.