Model Risk Actuary

Martello Re•Charlotte, NC

15h•Remote

About The Position

This role is responsible for maintaining and administering the company’s model governance and assumption governance frameworks, ensuring alignment with regulatory requirements and industry best practices. The position involves identifying, assessing, monitoring, and reporting on model risk within the company’s enterprise risk management framework. The Model Risk Actuary will serve as the secretary to the Company’s Model and Assumption Governance Committee, maintain comprehensive inventories of all models and assumptions, and perform independent validations of actuarial and financial models. The role also includes leading the annual review of model risk rating classifications, overseeing model change processes, monitoring model limitations, and supporting the implementation of a data governance framework. Additionally, the position will support technical review of pricing initiatives, collaborate with various teams to embed model risk awareness, and provide training on model risk principles. Other tasks as assigned.

Requirements

FSA or equivalent along with bachelor’s degree in Actuarial Science, Mathematics, Statistics, Economics or related field and 5 years of relevant experience
In lieu of Bachelor's, will accept Master's in a listed discipline and 3 years of relevant experience.
In lieu of FSA, will accept ASA or equivalent professional designation and 7 years of relevant experience.
Strong understanding of stochastic modeling, financial reporting, and regulatory frameworks (e.g., US GAAP, Bermuda EBS).
Proficiency in actuarial software and data analytics tools.
Excellent communication and influencing skills.
Ability to challenge constructively and manage cross-functional relationships.
Advanced Microsoft Office skills (Excel, Word, PowerPoint)
Demonstrated ability to manage multiple priorities and meet deadlines in fast-paced environment
High degree of attention to detail and excellent problem-solving skills
Capable of summarizing and communicating complex topics clearly and succinctly
Ability to work independently and as part of a team
High ethical standards and integrity

Nice To Haves

Prior experience in model governance, assumption governance, or risk management preferred.

Responsibilities

Maintain and administer the company’s model governance and assumption governance frameworks in alignment with regulatory requirements and industry best practices.
Identify, assess, monitor and report on model risk within the company’s enterprise risk management framework.
Serve as secretary to the Company’s Model and Assumption Governance Committee.
Maintain comprehensive inventories of all models and assumptions used within the company.
Perform independent validations of actuarial and financial models.
Lead the annual review of model risk rating classifications.
Oversee model change processes, ensuring proper testing, documentation, and approval before deployment.
Monitor model limitations, uncertainties, and potential biases.
Support the usage of standardized model and assumption governance tools and templates.
Manage and support annual review of the Company’s actuarial assumptions.
Support technical review of pricing initiatives.
Collaborate with actuarial, finance, underwriting, and risk teams to embed model risk awareness.
Provide training and guidance on model risk principles.
Support the implementation of a data governance framework applicable to actuarial, and/or financial uses of data.
Other tasks as assigned.