Life Risk Actuary - Financial and Model Risk

United Services Automobile Association (USAA)-posted about 1 month ago

Full-time • Mid Level

Hybrid • Phoenix, AZ

5,001-10,000 employees

Religious, Grantmaking, Civic, Professional, and Similar Organizations

Resume

Match Score

Upload and Match ResumeTrack Jobs with Teal

We are seeking a highly skilled Life Risk Actuary specializing in Financial and Model Risk to join our dynamic team. The ideal candidate will hold either an Associateship (ASA) or Fellowship (FSA) from the Society of Actuaries, showcasing a actuarial background and proven proficiency in developing and leading life actuarial models. Essential to this role is substantial experience in the life actuarial domain, particularly with a keen focus on financial risks associated with health products, especially Medicare Supplement offerings. This position is essential for safeguarding the integrity of our modeling practices, ensuring adherence to regulatory frameworks, and navigating the complexities of financial risk. The successful candidate will play a pivotal role in improving our actuarial capabilities and contributing to the strategic direction of our organization, thus driving innovation and compliance in a fast-evolving landscape. We offer a flexible work environment that requires an individual to be in the office 4 days per week. This position can be based in one of the following locations: San Antonio, TX, Phoenix, AZ, Charlotte, NC, or Tampa, FL. Relocation assistance is not available for this position.

Performs independent model validation control activities for high risk in-house and vendor models.
Demonstrates technical approaches to develop and implement validation testing plans.
Replicates model development and may develop challenger models through predictive modeling, machine learning, deep learning, time-series modeling/forecasting, stress testing, heuristic models, actuarial models, simulation, optimization, and/or other highly niche techniques.
Conducts and develops plans for model testing and data quality assessments for models using various types of datasets including those employing large datasets and unstructured datasets.
Reviews at an extensive experience level the end-to-end life-cycle management of model development, implementation, ongoing monitoring, and use in areas of Banking and Insurance (Property & Casualty and Life) along with their corresponding business support functions and operational processes.
Assesses model inherent risk ratings, model declassifications applications, the materiality of model changes, and conducts model change validations for all types models. Coordinates and advises the model validation work of peers.
Produces and delivers validation reports and related validation work to model validation management, model partners, senior leadership, and others.
Implements the independent model validation process aligned with the written risk and compliance policies and procedures at an extensive experience level. Evaluates model risk control strengths around model development, implementation, and use. Develops on emerging modeling techniques and approaches.

Bachelor's degree in a quantitative field, such as Economics, Mathematics, Statistics, Actuarial Science, Data Science, Engineering, Computer Science, or a Related Field with Core Quantitative Curriculum. Four additional years of related experience beyond the minimum required may be substituted in lieu of a degree.
6 years of related work experience in model validation, model development, statistical analysis, and/or advanced quantitative research.
Advanced degree (e.g., Master's, PhD) in a quantitative field, such as Economics, Mathematics, Statistics, Actuarial Science, Data Science, Engineering, Computer Science, or Related Field with Core Quantitative Curriculum and 4 years of related work experience in model validation, model development, statistical analysis, and/or advanced quantitative research.
Experience driving communication verbally and in writing quantitative/technical concepts and conclusions to non-technical audiences, senior leadership, auditors, and/or regulators.
Strong programming skills in R, Python, SAS, Java, C, SQL, and/or other comparable programming languages for the iterative methodological tenants of model and algorithm development including setting model specifications, assumption testing, data quality assessments, variable selection, back-testing, benchmarking, and other robust model testing. Extensive Experience with at least three of the following statistical, econometric, data science, and predictive modeling approaches: Unsupervised Learning; K-Means; Linear Regression; Time-Series/Forecasting; Stress Testing; Logistic Regression; Gaussian Process; Simulation Models; Boosting/Bagging Trees; Neural Networks; Deep Learning Concepts; Bayesian Estimators.
Strong business context knowledge in operational and support functions of Banking and/or Insurance as well as associated modeling and analytics knowledge.

Attainment of Society of Actuaries Associateship (ASA) or Fellow within the Society of Actuaries (FSA)
Experience leading all aspects of or developing models in the life actuarial space
Experience leading all aspects of financial risk associated with Health products, particularly Medicare Supplement
US military experience through military service or a military spouse/domestic partner

At USAA our employees enjoy best-in-class benefits to support their physical, financial, and emotional wellness. These benefits include comprehensive medical, dental and vision plans, 401(k), pension, life insurance, parental benefits, adoption assistance, paid time off program with paid holidays plus 16 paid volunteer hours, and various wellness programs. Additionally, our career path planning and continuing education assists employees with their professional goals.
For more details on our outstanding benefits, visit our benefits page on USAAjobs.com.

Track Jobs with Teal

Job Search Resources

•

Resume Builder

•

Financial Risk Analyst Resume Examples

•

Financial Risk Analyst Cover Letter Examples

Life Risk Actuary - Financial and Model Risk

Job Search Resources

Tools

Career Hubs

Guides

Company