Assistant Actuary - Model Development

Legal & General America
Frederick, MD
Jul 17, 2017
Jul 30, 2017
Accountant, IT
Full Time
How do we make Every Day Matter? At Legal & General America, we strive to create that unique environment where balance between work and life is possible. Imagine that! Integrity, quality and value are behind every business decision we make and are at the forefront of what drives us. We genuinely care about our customers, agencies, fellow employees and local community. We set big goals for ourselves, personally and professionally. Reaching them means seizing the day, challenging ourselves and making Every Day Matter. Pretty simple concept, if you ask us. Purpose and Objective Implement and maintain GGY AXIS asset models for LGA's asset portfolios and various asset/liability modeling applications, including those used in Corporate Planning, Embedded Value, Economic Capital, Cash Flow Testing, and VM-20. In addition, assist in the documentation and control of all the model development activities required by the upcoming Model Risk & Control Framework (MRCF). Essential Responsibilities In the initial stage, build asset model in GGY AXIS for a variety of purposes, including Economic Capital, Embedded Value, Cash Flow Testing, Corporate Planning/Forecasting, and VM-20 (deterministic and stochastic reserve calculation). Refine the existing asset module datalink. Model structured assets in Moody's Analytics software separately and incorporate the results into AXIS via either externally projected asset files or dynamic link. Also implement reinvestment strategies and reinvestment assets for the above projections.For Economic Capital, work with our EC/Solvency II team to build a process in AXIS to be able to stress asset under different scenarios at different granularity that meets their needs.Test the models to ensure that they are appropriately built by validating against existing ALFA asset models. Customize AXIS reports and reporting tools to produce the required model output. Ensure implementation of models complies with satisfactory standards and timeframes.After implementation, be responsible for quarterly asset model update, which includes running Moody's Analytics software for structured assets, stressed asset modeling for EC, updating all investment/reinvestment assumption, model enhancements, model documentation, and adding new asset types or reinvestment assets when needed. Analyze change in the projected earned rates.Run models or assist in modeling for all the production work requirements, depending on the resource needs of each reporting cycle.Ensure model control is compliant with the latest corporate model control and governance standard. Prevent unauthorized changes and ensure integrity of model results. Maintain detailed documentation of all changes made to models, including impacts under key reporting bases and evidence of management approval.Identify and implement process improvements, including automation of manual tasks where possible, to increase efficiency and transparency while minimizing the risk of errors. Qualifications Education BS/BA Math/Statistics.Associate, Society of Actuaries Experience/Knowledge 5 years of life insurance/actuarial experience Minimum of 2 years Asset Modeling experience preferredModel development or modeling experience preferred. Experience in various asset/liability modeling applications preferred. Skills Actuarial software skills - GGY AXIS experience is a key requirement (datalink coding experience highly desired), BondEdge and/or MG-ALFA a plus.Spreadsheet and database capabilities (Excel, MS Access, VBA, SQL).Strong actuarial analytical skills and problem solving abilityProficient written and oral communication skills.Ability to multi-task in a deadline-oriented environment

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