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Director / Actuary
American International Group
Nashville, TN, United States
Job Details - this job has expired, please see similar jobs below
Estimated Travel Percentage (%): Up to 25%
Relocation Provided: Yes
Travel: 0% to 10%
Experience: 7+ years
Reporting Relationships and Organizational Scope
This role will report to the Axis Model Steward. This role will be responsible for actuarial projection modeling for all DSA Re A&H business. This role will be accountable for supporting all production projection modeling applications within DSA Re. This role will be dedicated solely to DSA Re.
Your Contribution at AIG/DSA Re
• Serve as the lead in working with consultants to bring newly developed Axis A&H models into the DSA Re production modeling structure, including establishing repeatable and controlled processes for updating assumptions, inforce liabilities and assets, and current economic assumptions.
• Coordinate and lead assumption development for A&H businesses. This may require leveraging industry data studies and working with internal experience to determine the best-estimate assumption for use in multiple reporting regimes.
• Source and manage a team of up to two actuaries to update, run, and report on all production projections needs for contracts assumed by DSA Re.
• Develop and maintain a production data and modeling environment for Moody’s Analytics Axis A&H models. The environment will be data centric, minimize the use to spreadsheets, and have a robust control infrastructure.
• Ensure compliance with guidelines for actuarial projection modeling development and testing.
• Collaborate with the DSA Re Investments and Capital team to ensure consistency in modeling approaches, where appropriate.
• Align and coordinate the modeling needs and objectives of various stakeholders, including but not limited to support for capital management, asset liability management, cash flow testing, stress testing, loss recognition, unlocking, BMA EBS reporting and budgeting.
• Oversee modeling updates, including development of model specifications and assumptions
• Review, understand, and interpret model results. Explain variations in earnings vs the best estimate expectation and prior period.
• Manage the product-specific resources within the model development team to ensure consistency and facilitate teamwork, including working closely with IT and the DSA Re Head of Inforce Management.
• Assist M&A team with modeling applications
• Build valuation capability for US GAAP, STAT and Tax reserves into the existing Axis models
What we are looking for:
The ideal candidate will have significant experience and expert-level knowledge in GGY Axis and considerable knowledgeable in the valuation, assumption-setting, economic risk, reinsurance and statutory and GAAP accounting aspects of actuarial modeling for US individual A&H businesses including cancer, disability and long-term care products. The candidate must have excellent communication skills, management skills, and the ability to interact with business partners and business unit actuaries effectively. The successful candidate must have a desire to improve process efficiency and appearance of final work product.
Education:
An undergraduate degree is required. This individual will be a Fellow of the Society of Actuaries (FSA).
Experience:
• 10+ years of progressively more responsible actuarial experience in the insurance industry
• Leadership experience in a large actuarial or insurance organization.
• Significant experience and expertise with Moody’s Analytics Axis or similar modeling software
• Comfortable working on ad-hoc projects with ambiguous goals.
• Experience with business planning, stress testing and experience studies.
• Experience with financial reinsurance
• Proficient with MS Word, Excel, and data base software
• Actuarial competency related to valuation and modeling of A&H products including: Individual Cancer, Disability Income and LTC products.
Personal Characteristics
• Goal oriented and well-organized, with the ability to develop and manage disciplined processes.
• Desire to work in a ‘start-up’ environment
• Excellent written and oral communication skills.
• Desire to deliver a complete work product
• Highly motivated and results-oriented.
• Strong analytical skills.
• 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.