Actuary - Risk Management

AIG • Jersey City, NJ

1d • $118,000 - $150,000 • Onsite

About The Position

Actuary - Risk Management At AIG, we are reimagining the way we help customers to manage risk. Join us as a Actuary - Risk Management to take on key responsibilities within a world-class actuarial function. Make your mark in Actuarial Our Actuaries are on the front lines, quantifying risk, pricing insurance and reserving losses for AIG’s major insurance operating companies, globally. We collaborate with Finance, Claims, Operations, Marketing and Risk Management, among other functions. As an AIG actuary, you will be challenged and encouraged to reach your greatest potential to help improve how we predict, manage and mitigate risk.

Requirements

• University undergraduate degree and an Associate of Casualty Actuary Society or equivalent.
• A minimum of 7 years specializing in actuarial and/or risk management ideally with experience from a property and casualty (re)insurer or a consulting background if the requisite management and industry experience are evident.
• Strong analytical skills, knowledge of drivers of risk and knowledge of the insurance market.
• Ability to build proactive working relationships with stakeholders across various departments and effect change through use of influencing skills.
• Proven ability to maintain independent perspective and challenge management on risk-related decisions.
• Ability to communicate complex matters in a simple and clear manner.

Responsibilities

• Assist in the independent review of selected AIG policyholder liabilities.
• Review claims and premium data quality for property and casualty insurance lines.
• Build benchmark reserving models and design statistical tests to review and challenge reserving model assumptions (risk segmentation, trends, loss development factors etc.) and the conceptual soundness of selected model specifications.
• Keep up with industry trends and research on the latest development on reserving methodologies and acquire various external data to complement the Reserve Analysis.
• Support the documentation of this view to local Boards/Committees, the AIG Audit Committee, the AIG Risk Committee and the Reserve Committee.
• Assist in the independent review for selected high priority Pricing and Underwriting Models.
• Work closely with pricing actuaries to understand model development inventory and work closely with modelers during review process.
• Identify high risk pricing and underwriting models which require ERM review under the AIG Model Risk Management Policy.
• Acquire documentation, controls, data, validation and technical specification to assess.
• Help guide first line to best practices if these do not exist.
• Prepare reports on results of independent review to support robust governance function.
• Effectively communicate and present model review findings to Enterprise Risk Management leadership, Finance Actuarial, Underwriting and other key stakeholders.
• Work with various functions including actuarial, claims, underwriting, and the economics teams to build models or evaluate scenarios to quantify emerging risks and potential market shocks to enhance the company’s overall risk framework, providing insights that drive business success.
• Support technical review of other non-actuarial models when requested.

Benefits

• Bonus in accordance with the terms of the applicable incentive plan.
• Total Rewards Program, a comprehensive benefits package that extends beyond time spent at work to offer benefits focused on your health, wellbeing and financial security—as well as your professional development.
• Volunteer Time Off and Matching Grants Programs.

What This Job Offers

• Job Type: Full-time
• Career Level: Senior
• Education Level: Associate degree