Associate Director, Actuary
AC - Actuarial
Estimated Travel Percentage (%): No Travel
Relocation Provided: No
American General Life Insurance Company
Position can be based in Houston, Berkeley Heights, NJ, Woodland Hills, CA, Nashville. Remote candidates will also be considered.
The incumbent filling this position will gain considerable knowledge of variable annuity products with living and death benefit guarantees (and potentially fixed indexed annuities). The incumbent will become, if not already, expert in several bases of financial reporting such as Statutory (mainly AG 43, VM 21, and CFT), Tax and some elements of the GAAP reporting frameworks. The incumbent will also be exposed to the Internal (Economic) Capital, MBEV, ICS, etc. The nature of this role will provide opportunities and challenges for the incumbent to enhance his or her technical skills in financial reporting, financial projections, capital management, ALM and the AXIS modeling software.
- Leads the oversight and governance of the VA model development. Provides guidance and monitors the VA model development and production process to ensure AIG's quality assurance and Financial Actuarial Judgment (FAJ) guidelines are followed in a timely and complete manner.
- Ensures economic and policyholder behavioral assumptions as well as modeling methodologies are thoroughly defined, documented, tested and implemented into the statutory and ALM models, meeting all FAJ requirements.
- Participates in discussions/analysis and provides guidance/advice regarding technical actuarial issues such as modeling methodology, reserving principles and changes to valuation standards, laws and regulations applicable to variable (and fixed indexed) annuities.
- Monitors and analyzes developments in actuarial techniques, laws and regulations applicable to variable and fixed annuities and recommends appropriate reaction to these developments.
- Is an integral part of the VA Model Validation process
- Is an integral part of the VA control and audit process
- Supports ad hoc modeling needs from business partners
- Serves as a key resource for completion of one or more major projects during the course of the year
- Prior experience with Financial Reporting, Variable Annuity Products, ALM/Hedging, Regulatory guidelines and valuation principles, Economic Scenario Generation Process, Financial Projections etc.
- Prior management experience (people or project) will be a plus, not required.
- Actuarial Modeling experience, in particular experience with AXIS is a plus.
- Recent FSA or near FSA
Skills and Attributes:
- Excellent computer skills, especially knowledge of databases and presentation and graphing software
- Knowledge of variable annuity products and actuarial modeling software preferred
- Knowledge of AG43 and C3P2 concepts preferred
- Knowledge/experience with valuation of derivatives and general Financial Economics is a plus
- Effective oral and written communication skills, demonstrating the ability to convey complex mathematical and analytical concepts to various audiences
- Demonstrates high quality leadership, judgment, organization and prioritization skills
- Takes initiative and works independently
- Works under pressure and within time constraints to effectively accomplish individual and team objectives
- Finds creative solutions to standardize and automate processes
- Embraces change and quickly adapts to new methods and accountabilities
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.