AC - Actuarial
Estimated Travel Percentage (%):
American General Life Insurance Company
The Assistant Actuary will be a member of an actuarial modeling test team, which primarily supporting the individual life insurance products. The life testing team is responsible for the creation and maintenance of independent testing tools, the validation of the model, communicating testing feedback to the model development team and completing the testing documentation. The model purposes the test team will work on are, but not limited to, CCAR, asset adequacy, statutory, tax and GAAP valuation.
Detailed responsibilities include but not limited to:
• Assist with development of test plans for validation of model functionality and assessing validity of approximations/proxy approaches, including identification of sample model points which cover key policy features and isolate areas of potential error, and selection of assumptions/scenarios to run against this set of model points for back testing, sensitivity testing and stress testing
• Creation/maintenance of benchmark testing tools, including developing spreadsheets/programs based on model specifications to replicate model functionality and assembling benchmark data for model comparisons
• Documentation of testing and results, including actions taken upon uncovering model defects
• Work with actuarial units, finance teams, and Business units across the organization to understand stakeholder requirements
• Implementation of industry modeling best practices by the development of coding and control standards for testing tools developed in Excel or other programming platforms
• Oversight of defect tracking tool, including developing standards for defect reporting and ensuring the tool is used efficiently to communicate and address model defects and deficiencies across the project team.
• 5+ years of progressively more responsible actuarial experience with Life & Retirement Insurance products, with a focus on Universal Life BS degree in Actuarial Science, Mathematics, Statistics, Economics, Finance, or other quantitative field
• Associate of the Society of Actuaries (Fellowship preferred)
• Good verbal and written communication skills
• Ability to work independently and within a team
• Detail oriented
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