Model Validations Actuary

Sorry, this job was removed at 02:01 p.m. (EST) on Friday, Jul 26, 2024
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Boston, MA
Hybrid
138K-181K Annually
Big Data • Fintech • Information Technology • Insurance • Financial Services
We help people secure their future and protect the ones they love.
The Role

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


#LI-ST1
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

What the Team is Saying

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The Company
Boston, MA
6,000 Employees
Hybrid Workplace
Year Founded: 1851

What We Do

Since 1851, MassMutual’s commitment has always been to help people protect their families, support their communities, and help one another. This is why we want to inspire people to Live Mutual. We’re people helping people.

Together, we’re stronger.

Why Work With Us

MassMutual has the financial security and stability of a 170+ year old company, with the culture and energy of a startup. We work every day with the customer front of mind to build the best digital experience in the industry.

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MassMutual Teams

Team
Boston Campus
About our Teams

MassMutual Offices

Hybrid Workspace

Employees engage in a combination of remote and on-site work.

We believe in capitalizing on the best of being together in our offices as well as personal flexibility. Our workplace philosophy puts office collaboration first, combined with flexibility to work remotely.

Typical time on-site: 3 days a week
Boston, MA

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