Associate Actuary

Corebridge Financial Inc.•Houston, TX

49d•Hybrid

About The Position

Reporting to the Director, Variable Annuities Model owner, this role will be responsible for:Supporting quarterly statutory valuations of Variable Annuity & RILA products, including VM-21 / RBC C3 P2 and NY Reg 213; be responsible for annual Asset Adequacy Test (AAT)

Requirements

Fellow of the Society of Actuaries (FSA) or ASA.
Knowledge of annuity products and actuarial modeling software preferred,
Knowledge of annuity products and actuarial modeling software preferred, knowledge of Axis Platform a plus
Knowledge of Variable Annuity reserve and capital concepts preferred
Knowledge/experience with valuation of derivatives and general Financial economics is a plus
Effective oral and written communication skills, demonstrating the ability to convey complex mathematical and analytical concepts to various audiences
Takes initiative and works independently
Works under pressure and within time constraints to effectively accomplish individual and team objectives
Finds creative solutions to standardize and automate processes
Embraces change and quickly adapts to new methods and accountabilities

Responsibilities

Preparing, analyzing and presenting statutory results and preparing any documentations as required by regulation and company's internal governance and controls standards; preparing and supporting audits and state exams
Explaining and presenting VA reserve and capital movement through quarterly attribution process. Supporting the Financial Planning and Forecast of VA business (Budget and Stress analysis)
Implementing the Model Life Cycle Standard (MLCS) and other Model Risk Policies, conduct UAT for model changes and facilitate the successful Model Validation efforts
Participating in the discussions and analysis and providing advice regarding technical actuarial issues such as modeling methodology, actuarial and non-actuarial assumptions, reserving principles and changes to valuation standards, laws and regulations applicable to annuities
Monitoring and analyzing developments in actuarial techniques, laws and regulations applicable to annuities and recommending appropriate reaction to these developments
Finding creative solutions to standardize and automate processes as leader/participant on cross functional/cross product teams
Collaborating and maintaining productive working relationship with other Actuarial, Finance, IT and ERM functions.

Benefits

Health and Wellness: We offer a range of medical, dental and vision insurance plans, as well as mental health support and wellness initiatives to promote overall well-being.
Retirement Savings: We offer retirement benefits options, which vary by location. In the U.S., our competitive 401(k) Plan offers a generous dollar-for-dollar Company matching contribution of up to 6% of eligible pay and a Company contribution equal to 3% of eligible pay (subject to annual IRS limits and Plan terms). These Company contributions vest immediately.
Employee Assistance Program: Confidential counseling services and resources are available to all employees.
Matching charitable donations: Corebridge matches donations to tax-exempt organizations 1:1, up to $5,000.
Volunteer Time Off: Employees may use up to 16 volunteer hours annually to support activities that enhance and serve communities where employees live and work.
Paid Time Off: Eligible employees start off with at least 24 Paid Time Off (PTO) days so they can take time off for themselves and their families when they need it.

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