Actuary – Model Development

Please note that we do not offer visa sponsorship for this position.

JOB SUMMARY:

The Actuary will be responsible for building, testing, and validating MG-ALFA models and will report to the Model Steward.  The model is used for Asset Adequacy Testing, Asset/Liability Management, Statutory Forecasting, ORSA, VNB, and to support various special project initiatives.  The individual will streamline our modeling functionality to enable efficient and reliable projection capabilities.  The Actuary is expected to have detailed knowledge of MG-ALFA, Statutory accounting, and GAAP accounting.

RESPONSIBILITIES:

• Ownership of all aspects of the technical functionality of MG-ALFA models
• Develop and maintain model inputs, model interface, model reports, and database
• Participate and provide thought leadership in model governance, assumption maintenance, and model change management, including User Acceptance Testing
• Lead projects to implement new products, riders, and model functionality
• Provide a validated and locked-down production model to end users on a quarterly basis
• Partner with the IT department to identify and implement areas for automation and efficiency
• Lead development of functionality related to ad-hoc projects and one-off requests, working closely with business partners to ensure appropriate usage of models for new contexts

REQUIRED QUALIFICATIONS

• Bachelor’s degree in Actuarial Science, Mathematics, Computer Science, Statistics, Economics, or related field
• FSA or Career ASA professional designation
• 8+ years of actuarial experience with 5+ years of modeling experience
• MG-ALFA expertise or any modeling software
• Advanced knowledge of Statutory and GAAP accounting preferred
• Significant experience with Annuities, including Fixed-Indexed Annuities or Life Insurance, including Indexed Universal Life

In office (VT or TX) 4 days a week preferred, but will consider remote for well-qualified candidates.

Benefits

• Your benefits start day one and are flexible and customizable to your and your family’s specific needs. Check out the BENEFITS of a Career at National Life!

Role Summary

The Senior Actuary – Modeling will report directly to the Head of Modeling COE and will be accountable for executing the strategic vision and operational excellence of our modeling initiatives. This role will provide thought leadership and mentorship to the team, interfacing with senior management and external stakeholders to deliver robust and innovative modeling solutions across key areas including ALM, Asset Adequacy Testing, ORSA, Risk Based Capital, VNB, as well as various special project initiatives.  

KEY RESPONSIBILITIES 

• Work with a team of highly skilled modeling actuaries to ensure robust modeled balance sheet integrity and deep understanding of actuarial modeled results 

• Analyze and interpret complex modeling results, providing actionable insights to senior leadership. 

• Establish, review, and continuously improve best practices for model development, production, and validation. 

• Mentor and develop the MCOE team through targeted training programs and development initiatives, elevating overall modeling proficiency. 

• Partner and maintain strong relationships with key stakeholders to meet increasing business needs. 

• Support special projects and implementation of sound modeling methodologies and solutions. 

• Support production actuaries and help resolve issues and drive ongoing continuous improvements. 

• Help ensure compliance and consistency in methods across all lines of business. 

• Help develop deeper analytics across all lines of business. 

• Assist with new product implementation and ongoing validation work. 

JOB REQUIREMENTS 

• 10+ years of actuarial modeling experience with deep understanding of advanced modeling techniques, risk management, and regulatory frameworks.  

• 3+ years of influencing senior management/critical stakeholders experience. 

• Proven history of modeling enterprise balance sheets, including both assets and liabilities, under various economic scenarios. 

• Demonstrated ability to lead cross-functional teams and mentor less experienced professionals. 

• Strong communication skills with the ability to translate technical details into strategic business insights for senior management. 

• Exceptional problem-solving skills and the ability to think strategically about the integration of modeling processes across the organization. 

• Expert level knowledge of GAAP and Statutory regulations for Life and Annuity products with a preference for indexed products and reinsurance concepts. 
• Demonstrated ability or willingness to adopt and apply emerging technologies, including generative AI and automation tools, to improve reporting efficiency, effectiveness, and control quality.
• Prior experience with Economic Scenario Generation preferred. 

• Fellow or Associate of the Society of Actuaries (FSA or ASA) 

Benefits

• Your benefits start day one and are flexible and customizable to your and your family’s specific needs. Check out the BENEFITS of a Career at National Life!