Job Information
MassMutual Model Validations Actuary in New York, New York
Model Validations Actuary
Model Validations Team, Insurance, Product & Model Risk
Full Time
Springfield, MA, Boston, MA or New York, NY
The Team
The Model Validations team is comprised of seasoned professionals with expertise in actuarial, financial, risk, investment and capital markets models, who are also building knowledge in emerging areas of importance, such as data science, machine learning and artificial intelligence. The team conducts independent validations on a wide variety of models to ensure the company’s models are conceptually sound and performing as expected
The Opportunity
You will utilize your actuarial, industry and modeling expertise to conduct best-practice model validation activities, helping protect the company’s reputation and financial stability through robust management of risks associated with the use of these models.
This is a great position for someone with a passion for complexity of modeling, continuous improvement, and curious and open to different points of view.
The Impact
Specific expectations from this role:
Plan and deliver model validations in accordance with corporate model governance policy requirements and timelines leveraging deep modeling, actuarial and regulatory expertise
As a risk advisor, participate in the design, development and implementation of new models
Assess model design, theoretical construction, methodology, applicability, and resilience within evolving economic and risk environments, in accordance with actuarial and regulatory standards
Validate accuracy of model calculations, algorithms, and any embedded automation / programming code base by designing and implementing tests to ensure model performance and model output are as expected
Build relationships, influence, collaborate and learn various aspects of our business from many modelers, data-scientists, and business leaders at MassMutual
Prepare and distribute model validation documentation, which meets model governance requirements
Test remediation of validation findings
Continuously research and provide guidance on the use of new and innovative analytical techniques
The Minimum Qualifications
Bachelor’s degree in Actuarial Science, Finance, Econometrics, Statistics, Mathematics, Physics, or another quantitative discipline
Associate of Society of Actuaries (ASA)
5+ years of direct experience in the following:
sophisticated actuarial and/or data-science models
insurance products (life, DI, annuities, and/or LTC) and regulations
statistical methods of analysis
5+ years of experience with Microsoft Excel, Access, and/or VBA
5 + years of experience with projection software (i.e. GGY AXIS, Prophet)
The Ideal Qualifications
Fellow of Society of Actuaries (FSA) or Near FSA
7+ years of direct experience in the following:
sophisticated actuarial and/or data-science models
insurance products (life, DI, annuities, and/or LTC) and regulations
statistical methods of analysis
Knowledge of Artificial Intelligence and Machine Learning concepts as they relate to insurance risks
Extensive ALM, product pricing or valuation knowledge
Experience working with a combination of the following: actuarial principles, modeling, methods, workflows risks, and professional standards
Knowledge of programming languages (e.g. R, Python, SQL, C++, APL)
Strong math, analytical, critical thinking and problem-solving skills
Ability to see the big picture with meticulous attention to detail
Strong communication skills, both written and verbal
Demonstrated accountability and ownership of self-development
Ability to build and maintain strong working relationships within and across teams, while challenging in a constructive manner
Strong execution and time management skills
What to Expect as Part of MassMutual and the Team
Regular meetings with the Model Validations Team
Focused one-on-one meetings with your manager
Access to mentorship opportunities
Networking opportunities including the Actuarial Gathering, access to Asian, Hispanic/Latinx, African American, women, LGBTQIA+, veteran and disability-focused Business Resource Groups
Access to learning content on Degreed and other informational platforms
Your ethics and integrity will be valued by a company with a strong and stable ethical business with industry leading pay and benefits
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MassMutual is an Equal Employment Opportunity employer Minority/Female/Sexual Orientation/Gender Identity/Individual with Disability/Protected Veteran. We welcome all persons to apply. Note: Veterans are welcome to apply, regardless of their discharge status.
If you need an accommodation to complete the application process, please contact us and share the specifics of the assistance you need.
Salary Range: $137,800.00-$180,800.00
MassMutual
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