Head of Variable Annuity and Asset Model Development

Woodland Hills CA
March 15 2018
Insurance, Securities

Functional Area:

AC - Actuarial

Estimated Travel Percentage (%): Up to 25%

Relocation Provided: Yes

American International Group, Inc.

Position can be based in Woodland Hills, CA or Houston, TX

Head of Variable Annuity & Asset Model Development will report directly to AIG L&R Head of Model Development in Actuarial Modernization team. The head of VA Annuity & Asset Development will act as the lead for AIG's effort to modernize and transform the AIG L&R's modeling process in variable annuity and asset space. The model developed on GG-AXIS platform will be used to produce statutory, GAAP and economic projections which will directly support capital management, asset liability management, and regulatory projections such as cash flow testing. This individual will manage a team across the US and abroad. This individual will frequent and regular interact with model owners, the model production team, the Business Unit Chief Finance Actuaries, and key partners in Enterprise Risk management and IT teams.

Role and Responsibilities:
• Lead the Variable Annuity model development team to maintain VA model and deliver the model to stakeholders according to the set priorities
o Keep the VA product model up to date with new product offerings
o Implement required assumption unlocking
o Implement required RN methodology change
o Improve data specification. Work with data team to identify issues in current data process and research on solutions.
o Follow the software development cycle. Deliver model with automated production process and controls. Work with testing team on impact attribution and user acceptance testing.
• Lead asset development team to implement asset related models for all product lines.
o Implement and maintain economic model calibration process and economic scenario generator.
o Implement and maintain general account asset model in GGY-AXIS for various valuation frameworks, including but not limited to CFT, AG43, VM20, PBR.
o Implement and maintain reinvestment strategies and hedging strategies for financial forecasting
o Implement and maintain structured asset projection as externally projected asset.

The Ideal Candidate Should Have

  • 4 years college degree. M.S. or Ph.D. degree preferred
  • FSA
  • 10+ years of relevant actuarial experience in annuity lines of business including Workers Compensation
  • Proficiency in at least one actuarial valuation system, GGY AXIS experience preferred
  • Proficiency in at least one programming one language, C++, C#, VBA, or Python
  • Previous management experience required
  • Strong communication (oral and written) skills and demonstrated ability to work with internal stakeholders
  • Solid project management and organizational skills to work on multiple priorities, establish and meet deadlines
  • Self-motivated, ability to deliver results under stressful environment, and attention to details

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

We consider qualified applicants with criminal histories, consistent with applicable law.