Senior Actuarial Associate - Model Validation

Voya Financial • CT-Work@Home, Connecticut, CT

3d • $110,000 - $135,000 • Remote

About The Position

The Senior Actuarial Associate, Model Validation reports to the Director, Model Validation within Voya’s Enterprise Risk Management organization. This role is responsible for conducting independent validations of models across the enterprise, including actuarial, asset management, non-financial, and AI/ML models. The position plays a critical role in ensuring model risk is effectively identified, assessed, and mitigated while supporting regulatory compliance, governance standards, model transparency, audit readiness, and risk-adjusted decision making. This role is fully remote, with no regular in-office requirement.

Requirements

• Bachelor’s degree in Mathematics, Statistics, Actuarial Science, Finance, or a related quantitative field.
• 3-4+ years of actuarial modeling or quantitative analytics experience within the insurance or financial services industry.
• Completion of 5-6 actuarial exams; working towards attainment of ASA designation.
• Experience building, running, and validating actuarial models.
• Strong understanding of model lifecycle concepts, model governance best practices, and regulatory expectations, including NAIC Model Risk Guidance and SR 11-7.
• Strong analytical, problem-solving, and critical-thinking skills with exceptional attention to detail.
• Strong written and verbal communication skills with the ability to present complex findings to various audiences.
• Advanced proficiency in Microsoft Excel.
• Demonstrated ability to independently manage initiatives, prioritize workload, and deliver results.
• Understanding of insurance products and experience in areas such as pricing, valuation, modeling, analytics, or risk management.
• Strong stakeholder management and collaboration skills.

Nice To Haves

• Experience with investment modeling and asset-related analytics.
• Knowledge of AI/ML algorithms and experience developing or validating data science models.
• Experience using actuarial modeling platforms such as RiskAgility, Triton, AXIS, Prophet, or similar tools.

Responsibilities

• Lead and execute independent model validations and reviews, primarily focused on actuarial models with secondary responsibility for investment and AI/ML models.
• Independently assess model assumptions, methodologies, limitations, and outputs to challenge model accuracy, reliability, and appropriateness.
• Evaluate model controls and supporting documentation to ensure compliance with internal standards and regulatory expectations.
• Develop and execute testing plans to confirm models are functioning as intended and producing accurate results.
• Provide guidance to model owners and development teams on modeling best practices, controls, and model risk mitigation strategies.
• Track, monitor, and oversee remediation of issues and findings identified through model validation activities.
• Prepare comprehensive validation reports and present findings, recommendations, and conclusions to governance committees and key stakeholders.
• Support the ongoing enhancement of Voya’s Model Risk Management Framework, including policies, standards, and procedures.
• Partner with model owners, business units, Internal Audit, Compliance, and IT teams to facilitate timely and effective model validations.
• Participate in the Actuarial Student Rotation Program.
• Build strong working relationships and collaborate effectively across cross-functional teams.
• Perform additional duties and responsibilities as assigned.

Benefits

• Health, dental, vision and life insurance plans
• 401(k) Savings plan – with generous company matching contributions (up to 6%)
• Voya Retirement Plan – employer paid cash balance retirement plan (4%)
• Tuition reimbursement up to $5,250/year
• Paid time off – including 20 days paid time off, nine paid company holidays and a flexible Diversity Celebration Day.
• Paid volunteer time — 40 hours per calendar year

What This Job Offers

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