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Head of Axis Production

Employer
Legal & General America
Location
Frederick, MD
Closing date
Jun 27, 2021

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Overview: Lead the companys Moodys Axis production team for all lines of business. Responsible for the development, testing, and validation of model changes across each product line, reporting metric, and model purpose. Drive models through all stages of development, coordinating all efforts with model governance and in collaboration with all key stakeholders. Models will need to support all model purposes (Valuation, CFT, FP, etc.) across multiple reporting metrics (IFRS, Solvency II, STAT, Tax, etc.). Model development activities must comply with all model governance and documentation requirements defined by the companys model governance policies and ASOPs.This role is a high profile position that requires proficiency with Moodys Axis modeling platform, product knowledge, familiarity with regulatory requirements, and very strong analytical and communication skills. Experience with MG-Alfa would be a plus for this role, as careful coordination with existing Alfa model steward is also a key responsibility of this role. Responsibilities: Provide thought leadership and Axis expertise on all model development, refinement, and implementation, including assumption changes, new functionality, and compliance with regulations, actuarial standards & guidelines, and industry best practices.Develop and maintain required functionality within our Moodys Axis models to be used for a variety of purposes, including Valuation, Financial Reporting, Financial Planning & Analysis, SII, Cash Flow Testing, and others as needed.Provide actuarial modeling support and Axis expertise during functional design, model specification creation, model development, and implementation stages. Coordinate efforts across key stakeholders such as model stewards within team, Model Governance and users from Valuation, Pricing, FP, Asset Modeling, and IFRS 17 Development, to ensure the functionality, validation and production meets time lines and budget, and does not create any conflicts with other developmental efforts.Collaborate with IFRS 17 team, valuation, finance, asset modeling, financial planning, IT, and others to ensure models built using Moodys Axis, Excel, SQL or other software components are built according to the agreed model specifications. The model review methods should have diligence commensurate with the materiality and risks associated with the model purpose and company requirements.Models must support multiple accounting methods including IFRS, STAT, Tax, SII and others as required by management.Review and test models to ensure that they are appropriately built to reflect product designs, all reporting requirements, reflect financial reinsurance deals, meet business purposes, and are fit for the intended purposes of all the modeling requirements.Develop robust model validation of Moodys Axis models against existing MG-Alfa models during the build and as we transition to the new platform for all financial reporting purposes. Collaborate with other teammates or external resources to accomplish team goals where needed.Develop knowledge and abilities of model development staff, including modeling best practices and actuarial problem solving, through challenging assignments, involvement in decision making, and constructive feedback. Lead and mentor team, fostering a collaborative environment across organization with a constant eye to teams professional development and growth.Be a subject matter expert (SME) on the modeling process for direct liabilities, all reinsurance deal structures, the latest actuarial regulatory requirements, and new actuarial methodologies. Be able to communicate model mechanics and issues clearly and accurately to relevant parties. Provide modeling expertise and support for other internal needs.Ensure model control is maintained around development models, to 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 validation and approvals.Identify and implement process improvements, including automation of manual tasks where possible, to increase efficiency and transparency while minimizing the risk of errors.Other duties as required. Qualifications: Education BS/BA Math/Statistics. FSA, Society of ActuariesExperience/KnowledgeAxis Model Development experience required10+ years of life insurance / actuarial experienceSolid proven leadership abilitesTerm and Universal Life experience requiredAnnuities, Whole Life or Pension Risk Transfer (PRT) experience is a plusExperience in multiple accounting methods (IFRS, STAT, Tax, Solvency II) preferred SkillsActuarial software skills Moodys Axis experience is a key requirement. MG-ALFA experience would be a plus.Strong spreadsheet and database capabilities (Excel, MS Access, VBA, SQL).Excellent actuarial analytical skills and problem solving ability.Proficient written and oral communication skills.Ability to multi-task in a deadline-oriented environment.

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