Senior Actuarial Associate - Model Validation
New
V
Voya FinancialFinancial Services
United StatesFull-TimeSenior
Salary110,000 - 135,000 USD per year
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Job Details
- Experience
- 3-4+ years of actuarial modeling or quantitative analytics experience
- Required Skills
- Data AnalysisMicrosoft ExcelRisk Management
Requirements
- Bachelor’s degree in Mathematics, Statistics, Actuarial Science, Finance, or a related quantitative field.
- 3-4+ years of actuarial modeling or quantitative analytics experience within the insurance or financial services industry.
- Completion of 5-6 actuarial exams; working towards attainment of ASA designation.
- Experience building, running, and validating actuarial models.
- Strong understanding of model lifecycle concepts, model governance best practices, and regulatory expectations, including NAIC Model Risk Guidance and SR 11-7.
- Strong analytical, problem-solving, and critical-thinking skills with exceptional attention to detail.
- Strong written and verbal communication skills with the ability to present complex findings to various audiences.
- Advanced proficiency in Microsoft Excel.
- Demonstrated ability to independently manage initiatives, prioritize workload, and deliver results.
- Understanding of insurance products and experience in areas such as pricing, valuation, modeling, analytics, or risk management.
Responsibilities
- Lead and execute independent model validations and reviews, primarily focused on actuarial models with secondary responsibility for investment and AI/ML models.
- Independently assess model assumptions, methodologies, limitations, and outputs to challenge model accuracy, reliability, and appropriateness.
- Evaluate model controls and supporting documentation to ensure compliance with internal standards and regulatory expectations.
- Develop and execute testing plans to confirm models are functioning as intended and producing accurate results.
- Provide guidance to model owners and development teams on modeling best practices, controls, and model risk mitigation strategies.
- Track, monitor, and oversee remediation of issues and findings identified through model validation activities.
- Prepare comprehensive validation reports and present findings, recommendations, and conclusions to governance committees and key stakeholders.
- Support the ongoing enhancement of Voya’s Model Risk Management Framework, including policies, standards, and procedures.
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