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Model Validations Actuary

Boston, MassachusettsActuarialR15882Job IDApply

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 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, LGBTQ, 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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EEO Statement(Opens in new window)

MassMutual will accept applications on an ongoing basis until such time as a candidate has been offered employment.

Salary Range $137,800.00-$180,800.00Apply