About this role
This role performs model validation and model risk assessments and supports the implementation of RGA's global model risk program. The Senior Actuarial Analyst will help evaluate, monitor, and report model risk exposure and contribute to GRC tooling and MRM framework development.
Key Responsibilities
- Conduct model validation and perform model risk assessment per the MRM (Model Risk Management) policy
- Support evaluation, monitoring, and reporting of overall model risk exposure and mitigation opportunities
- Assist in development of a GRC (Governance, Risk, and Compliance) tool for MRM
- Assist in implementation of global MRM framework and MRM strategy
- Assist in development and implementation of entity-specific MRM framework for regulatory requirements
Technical Overview
Responsibilities focus on actuarial model validation and model risk management processes under the MRM policy, including global MRM framework implementation and entity-specific MRM framework support. The role references actuarial software such as Prophet and AXIS and involves work with database software and programming.
Ideal Candidate
The ideal candidate is a senior actuarial professional with 2+ years of insurance/reinsurance and actuarial modeling/risk management experience, ideally with experience in model validation and model risk assessment. They hold or are close to holding ASA and have passed at least 1 FSA exam, with strong communication and the ability to support implementation of a global model risk program and MRM framework.
Must-Have Skills
Model validationModel risk assessmentInsurance/reinsurance experienceActuarial modeling and risk management experienceASA or close to ASAPPassed 1 FSA exam
Nice-to-Have Skills
Experience with model validation and risk assessmentFamiliarity with Artificial Intelligence models and predictive models2+ years of model validation experienceKnowledge of regulatory MRM requirements such as Canada OSFI E23Bermuda SBAand UK PRA SS1/23
Tools & Platforms
MS OfficeProphetAXISGRC (GovernanceRiskand Compliance) tool (unspecified vendor/system)database softwareprograming (programming)
Required Skills
Model validationModel risk assessmentsModel Risk Management (MRM) policymodel risk exposure reportingGRC tool developmentMRM framework implementationMS OfficeProphetAXISdatabase softwareprogrammingregulatory MRM requirementsreinsurance valuation system and processArtificial Intelligencepredictive models
Hard Skills
Model validationModel risk assessmentsModel Risk Management (MRM) policyGovernanceRiskand Compliance (GRC) tool developmentGlobal model risk programModel risk exposure evaluationmonitoringand reportingTrend and mitigation opportunities identificationGlobal MRM framework implementationEntity specific MRM framework developmentRisk assessmentInsurance/reinsurance experienceActuarial modeling and risk managementInsurance/reinsurance valuation system and process knowledgeArtificial Intelligence models and predictive models familiarityKnowledge of regulatory MRM requirementsArtificial intelligence models for predictive models (as referenced)MS OfficeActuarial software (ProphetAXIS)Database softwareProgrammingAdvanced investigative analytical problem-solvingAdvanced oral and written communication
Soft Skills
Advanced communication skillsRelationship managementChange managementCross-functional collaboration across operationalfunctionaland technical disciplinesLiaising with internal/external customersPersuasion and negotiationInvestigative and analytical thinking
Certifications
Required
ASA (Associate of the Society of Actuaries)Passed 1 FSA exam (Fellow of the Society of Actuaries exam)
Preferred
Master's degree in MathFinanceActuarial SciencesStatistics or related fieldFSA exam (additional exams not specified)
Keywords for Your Resume
Senior Actuarial AnalystModel Governance and Validationmodel validationmodel risk assessmentsModel Risk Management (MRM) policyglobal model risk programmodel risk exposureGovernanceRiskand Compliance (GRC) toolMRM frameworkGRCArtificial Intelligencepredictive modelsMS OfficeProphetAXISdatabase softwareprogramingASAAssociate of the Society of ActuariesASAPFSAFellow of the Society of Actuaries examCanada OSFI E23OSFI E23Bermuda SBAUK PRA SS1/23PRA SS1/23reinsurance valuation system and processinsurance/reinsurance experiencemodel risk assessment
Deal Breakers
Must have ASA or be close to ASAP, Must have passed 1 FSA exam, Must have 2+ years of insurance/reinsurance experience
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