Model Risk Management Associate | Hybrid

Allianz • Minneapolis, MN

301d • $67,000 - $134,000

About The Position

At Allianz Life, we are driven by our mission - we secure your future - and by our common goal of caring for tomorrow. We care for our employees by promoting an inclusive culture where everyone has the opportunity to grow and be rewarded for their success. We care for our customers by creating new products that help them protect their families and pursue their retirement goals. We care for our community by giving time, resources, and donations. And we care for the future by supporting sustainability, protecting the local environment, and promoting societal equity. Within the Corporate Risk Management Department, the Model Risk Management Analyst Associate validates financial models in relation with Allianz Investment Management (AIM) hedging activities. You will develop model validation plan activities. You will ensure appropriate adherence to model governance, track progress to plans, and address changes to ensure best practices. You will report to the Senior Director of Model Risk Management and receive direction from the Senior Model Risk Management Analyst.

Requirements

• 0-2 years of experience required.
• Experience coding in one of the following languages: C, C++, C# or Python with a strong preference for C#.
• Four-year degree required in Mathematics, Physics, Computer Science, Actuarial Science or related technical field.
• You must be legally authorized to work in the U.S. and will not require immigration sponsorship for visa status now or in the future.

Responsibilities

• Perform validation of hedging and financial models as an independent reviewer, whether for new models, model changes or as part of ad-hoc validations.
• Review inputs, assumptions and expert judgements.
• Review the methodology and assess its mathematical or financial relevance.
• Review the code and ensure that it is aligned with the methodology.
• Review the documentation to ensure it is understandable.
• Review outputs and controls.
• Perform validation tests (backtestings, sensitivities to inputs and assumptions, code changes).
• Understand the modeling process including inputs, outputs and assumptions.
• Identify potential issues from validations, raise findings and align with model owners.
• Track remediation plan items and work with model owners to ensure identified items are being addressed in due time.
• Maintain models findings list and track remediation status.
• Work with model owners to understand the model changes being considered and assess if model changes will impact the validation status/plan.

Benefits

• Comprehensive medical, dental and vision plan options.
• Flexible spending and health savings accounts.
• Tuition reimbursement.
• Student loan retirement program.
• Generous annual paid leave.
• Outstanding 401(k) company match.
• Life insurance.
• Onsite health center.
• Child development center.
• Fitness facility.
• Convenience store and two cafeterias.

What This Job Offers

• Job Type: Full-time
• Career Level: Entry Level
• Industry: Insurance Carriers and Related Activities
• Education Level: Bachelor's degree