Actuarial Associate, Life Valuation
AC - Actuarial
Estimated Travel Percentage (%): No Travel
Relocation Provided: No
American General Life Insurance Company
Actuarial Associate Life Valuation Fortitude Re - Valuation and Financial Reporting
American International Group, Inc. (AIG) is a leading international insurance organization with operations in more than 130 countries and jurisdictions. AIG companies serve commercial, institutional and individual customers through one of the most extensive worldwide property-casualty networks of any insurer. In addition, AIG companies are leading providers of life insurance and retirement services around the world. AIG common stock is listed on the New York Stock Exchange, as well as the stock exchanges in Ireland and Tokyo.
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 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.
Travel: 0% to 15%
Experience: entry level (minimum of 2 years' experience desired)
Actuarial Credentials: Pass at least 3 actuarial exams
Reporting Relationships and Organizational Scope
This role will report to the Director and Actuary, Life Valuation, Fortitude Re. The Actuarial Associate will perform valuation and financial reporting duties, analysis, and ad hoc projects on business assumed by Fortitude Re. This role will be solely dedicated to Fortitude Re.
Role and Responsibilities
- Assist with the periodic US GAAP, Statutory, and Tax valuation for Fortitude Re's assumed life insurance business.
- Perform analytics and prepare analysis of financial results
- Assist and execute in the building of our Axis valuation models
- Perform coding, testing and input updates to the Axis valuation models
- Lead process improvement efforts, particularly automation
- Assist in responding to internal and external auditor requests
- Execute on ad hoc projects
- Sustain status in FRL's actuarial student program
- Bachelor's degree in Actuarial Science, Mathematics, or related field.
- Passed at least 3 Actuarial exams and a minimum of 2 years of applicable experience.
- Excellent mathematical, analytical and problem solving skills with attention to detail
- Mathematical and actuarial knowledge, computer and actuarial software skills, analytical
- Problem solving and a basic business sense of financial, accounting and economics aspects of business.
- Proficient with MS Word, Excel, and SQL.
- Coding experience, experience with Tableau or Alteryx is a plus
- Goal oriented and well-organized
- Ability to develop and manage disciplined processes
- Desire to work in a ‘start-up' and team environment
- Excellent written and oral communication skills
- Strong project management and organizational skills
- Solid interpersonal and influencing skills
- Desire to deliver a complete work product
- Highly motivated and results-oriented
- Strong analytical skills
- Ability to work independently and across geographies
- Desire to eliminate manual and spreadsheet-based processes
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.