Risk Structure Actuarial Analyst

New York NY
January 11 2019
Insurance, Securities
Functional Area:

AC - Actuarial

Estimated Travel Percentage (%): No Travel

Relocation Provided: No

American General Life Insurance Company

Job ID: JR1815014 Risk Structure Actuarial Analyst

Your Future Team

Fortitude Re: In 2016, AIG created a third reporting segment, Legacy, to manage non-core assets and liabilities, and businesses in run-off, with the objective of balancing the benefits of return of capital or capital redeployment, with potential near-term reductions in book value. The launch of the Fortitude Re entity in 2017 (formally DSA Re) was an important early step in achieving that objective. AIG continued the Fortitude Re strategy by announcing a strategic partnership with The Carlyle Group to achieve the long-term vision for Fortitude Re. Fortitude Re currently reinsures $36 billion of AIG's Legacy Life and Annuity and General Insurance liabilities. Fortitude Re's diversified risk portfolio, strong claims operation, and efficient administration capabilities provide the foundation for a platform that can be scaled over time to offer unique solutions to external parties. AIG and Carlyle plan to build Fortitude Re into a standalone platform with financial strength that complements its strategically differentiated capabilities. For more information, please visit http://www.aig.com/investor-relations

Your Contribution

This position primarily supports the Head of P&C Risk Structuring in Fortitude Re. This job will have to develop and refine models generated by the Head of P&C Risk Structuring, and will have significant upward visibility. This person will serve on an active deal team, and must be comfortable working under significant pressure. This job will support the deal team more broadly, including its pricing and due diligence functions. The Actuarial Consultant -- Risk Structuring must excel at extrapolating from limited information and applying core concepts to innovative structures and unique risks. This individual must be able to take into account economic and regulatory conditions and risks. Further, a candidate must have a deep understanding of insurance risk and operations broadly. The actuarial consultant will not be expected to innovate these solutions without support, but will be expected to make material contributions to the innovation process and should be comfortable understanding actuarial and economic theory and developing models and metrics that reflect economic and actuarial theory. The Actuarial Consultant - Risk Structuring must be comfortable in an “execution” culture, where they are expected to show initiative, find proactive solutions, and execute regardless of who “owns” a problem

Role Responsibilities

Actuarial Consultant - Risk Structuring

  • Understand portfolio risk profile and its interaction with Fortitude Re's risk profile with extremely limited information
  • Calculate correlations, leverage, and benchmarks for potential risk structures with the existing Fortitude Re portfolio in mind
  • Creative solutions to information limitations, including harvesting data from public data sources and leveraging research from diverse, non-insurance sources
  • Present pros and cons of risk strategies and risk structures to management with consideration of both actuarial and business concerns. Actuarial Consultant should be comfortable making recommendations and defending them
  • Analyze potential solutions to global regulatory challenges and burdensome jurisdictional capital controls
  • Contribute to the broader risk structure and pricing team with innovative ideas

This role will be responsible for providing management with risk, economic, and strategic feedback on risk structures for transactions measuring 100MM and 1BN in liabilities. This role is expected to be one of two experts in Fortitude Re capable of giving this type of advice/recommendations to Fortitude Re management

What we are looking for

Applicant must:

  • be a Fellow of the Casualty Actuarial Society (ACAS)
  • be a proactive, independent problem solver
  • have reinsurance experience, pricing experience, and insurance risk management exposure
  • have reinsurance experience, pricing experience, and insurance risk management exposure
  • have extensive experience building pricing models using external and industry data
  • have extensive experience building sophisticated mathematical and statistical models, with a demonstrable history of successful implementation (preferably with Bayesian modeling or machine learning experience)
  • have significant data-oriented experience, and be able to source, pull, cleanse, and analyze their own data. This includes understanding of public data sources, significant database experience, and standard data cleansing and visualization experience
  • have experience building and models in MS Excel and [R]
  • A strong candidate without a graduate degree or with only an Associateship in the Casualty Actuarial Society will be considered

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.

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