Associate Actuary - Risk Management

AIG • Jersey City, NJ

1d • $110,000 - $145,000 • Onsite

About The Position

At AIG, we are reimagining the way we help customers to manage risk. Join us as an Associate 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. How you will create an impact This position will assist the Actuarial Independent Review team with the following responsibilities:
Assist in the independent review of selected AIG policyholder liabilities. This includes:
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. This includes:
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.
Opining on methodology, trends and parameters for selected models.
Prepare reports on results of independent review to support robust governance function.
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.
AIG is ideally looking for a candidate with:
University undergraduate degree and working towards a Associate or Fellow of Casualty Actuary Society or equivalent.
A minimum of 5 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.
Ability to communicate complex matters in a simple and clear manner.
Opportunity can be located either in NYC, NY, Jersey City, NJ, Parsippany, NJ, or Boston, MA
For positions based in New York, the base salary range is $115,000-$145,000, for the positions based in New Jersey, the base range is $110,000-$142,000, and for positions based in Boston, the base range is $115,000-145,000.
In addition, the position is eligible for a bonus in accordance with the terms of the applicable incentive plan.
In addition, we’re proud to offer a range of competitive benefits, a summary of which can be viewed here: 2025 Benefits Summary
#LI-AIG #Actuary #actuarialcareers
At AIG, we value in-person collaboration as a vital part of our culture, which is why we ask our team members to be primarily in the office. This approach helps us work together effectively and create a supportive, connected environment for our team and clients alike.
Enjoy benefits that take care of what matters
At AIG, our people are our greatest asset. We know how important it is to protect and invest in what’s most important to you. That is why we created our 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—to bring peace of mind to you and your family.
Reimagining insurance to make a bigger difference to the world
American International Group, Inc. (AIG) is a global leader in commercial and personal insurance solutions; we are one of the world’s most far-reaching property casualty networks. It is an exciting time to join us — across our operations, we are thinking in new and innovative ways to deliver ever-better solutions to our customers.
At AIG, you can go further to support individuals, businesses, and communities, helping them to manage risk, respond to times of uncertainty and discover new potential.
We invest in our largest asset, our people, through continuous learning and development, in a culture that celebrates everyone for who they are and what they want to become.
Welcome to a culture of inclusion
We’re committed to creating a culture that truly respects and celebrates each other’s talents, backgrounds, cultures, opinions and goals. We foster a culture of inclusion and belonging through learning, cultural awareness activities and Employee Resource Groups (ERGs).
With global chapters, ERGs are a cornerstone for our culture of inclusion.
The talent of our people is one of AIG’s greatest assets, and we are honored that our drive for positive change has been recognized by numerous recent awards and accreditations.
AIG provides 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.
AIG is committed to working with and providing reasonable accommodations to job applicants and employees with disabilities. If you believe you need a reasonable accommodation, please send an email to [email protected].
Functional Area: AC - Actuarial
AIG PC Global Services, Inc.
As a global risk leader with deep industry expertise and innovative solutions to smartly manage risk, AIG enables our clients’ growth in ways they never thought possible. We also do the same for our colleagues, because we know our people are our greatest strength – the source of every insight, every idea and every innovation.
When we're working as one team to do what's right for our colleagues and our communities, we can achieve excellence together.
We encourage colleagues to give back to the causes they care most about, supporting these efforts through our Volunteer Time Off and Matching Grants Programs.
Join our Talent Community.
Additional information about AIG can be found at www.aig.com | YouTube | Instagram| LinkedIn.

Requirements

• University undergraduate degree and working towards a Associate or Fellow of Casualty Actuary Society or equivalent.
• A minimum of 5 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.
• 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.
• Opining on methodology, trends and parameters for selected models.
• Prepare reports on results of independent review to support robust governance function.
• 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
• Matching Grants Programs

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level