Associate Director and Actuary
AC - Actuarial
Estimated Travel Percentage (%): Up to 25%
Relocation Provided: No
AIG General Insurance Company, Ltd.
Reporting Relationships and Organizational Scope
We are seeking an associate Director & Actuary, Actuarial Model Documentation who will report directly to the Vice President and Actuary, Head of Model Development as part of the team responsible for developing, implementing and validating actuarial projection models, across AIG's Life & Retirement businesses. The position is within AIG L&R Insurance Company Capital and Asset Liability Management (ICALM). The ICALM organization is responsible for AIG L&R actuarial projection modeling processes including governance, model execution, research and development, and production outputs supporting cash flow testing, ALM, and other strategic analyses.
This individual will have frequent and regular interaction with model owners across the Valuation and ICALM areas, Model Development, Testing and Production team, and key partners in the audit and actuarial control area.
Role and Responsibilities
Responsibility for setting documentation standard, and platform to ensure actuarial models developed to support to the Actuarial Modeling Initiative effort are documented to a degree that a qualified actuary could independently reproduce model results based only on the documentation and model inputs. This role will focus on implementing best practices from across the actuarial profession, insurance industry, and software development practice to develop model documentation to an industry-leading standard, such that it satisfies auditors and regulators while serving as an indispensable reference for actuaries involved with the development, validation, maintenance and execution of the models. Responsibilities include:
- Managing and coordinating the process for developing and maintaining actuarial model information, including documentation of processes, controls, model logic, assumptions; compiling this information from models, memos, manuals, calculations, business specifications, and interviews of model stakeholders
- Develop best practices for documentation development and maintenance in order to capture documentation during the new model development process as well as updating of existing models
- Work with risk units, internal audit, and model stakeholders to understand actuarial model applications and documentation requirements
- Organize repository of documentation, using techniques from database management and library science to create a user-friendly, well-organized data store
- Maintain AIG's documentation platform based on Confluence
This is an exciting opportunity to develop a complex modeling system from the ground up and ensure its successful adoption across actuarial functions.
The ideal candidate will have significant experience developing projection models for life and annuity products with experience in valuation requirements and best practices for statutory, GAAP and economic valuation bases. The candidate must have excellent communication skills, including experience writing actuarial memoranda and communications intended for a wide range of audiences. Strong interpersonal skills and the ability to interact with colleagues with a wide range of experience levels and background are also critical for this role.
An undergraduate degree is required. This individual should be at least ASA, FSA preferred.
· 10+ years of progressively more responsible actuarial experience with Life & Retirement Insurance products.
· A record of demonstrated success in developing large-scale actuarial models with complete, accurate and integrated documentation and controls
· Experience with actuarial valuation projection is required.
· Excellent written and oral communication skills, including proven ability to write clear concise memos, and clearly document system functionality is required.
· Prior experience with actuarial modeling software is required.
· Confluence experience preferred
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.