AVP, Actuarial Risk & Model Governance

Job Description

Job Summary

The AVP, Actuarial Risk & Model Governance is a position within Enterprise Risk Management ("ERM") focusing on the actuarial risks across the Company and with a specific focus on model risk management. The mission of ERM is to ensure the Company has a comprehensive framework for understanding the risks embedded in and across its businesses. This enables the Company to manage the risks effectively, evaluate current and future risk challenges and opportunities, and enhance shareholder value. As such, the AVP, Actuarial Risk & Model Governance is a high profile role with exposure throughout the organization and will leverage institutional knowledge from previous experience within F&G and/or the insurance industry to enable ERM to assess aggregate risks. This role will also monitor model control standards, model risk assessments, and model issue remediations.

Organization

This position reports to the VP, Head of Investment Risk and will have responsibility for managing a team. This position will interact with actuaries in the First Line of Defense within the business.

Duties and Responsibilities

This role on the Risk Management team will be responsible for supporting risk management of the business, including risk governance, risk metrics, and model risk management. Following are specific responsibilities associated with this position:

Advocate for Model Risk across the organization and ensure alignment of model risk policy implementation

Educate, train, and provide guidance to model owners throughout the company about the Model Risk Management Policy

Identify models utilized within the organization and maintain a model inventory

Monitor model control standards, model risk assessments, and model issue remediation in partnership with responsible teams

Partner with corporate actuarial to develop assumptions/methodologies in AXIS for use in risk applications such as stress testing and economic capital

Advise on actuarial projects including analyses of issues and problems or recommendations of solutions and other related to actuarial issues in the development of products, pricing strategies, financial forecasts, reserve valuation, experience and risk analysis

Support overall risk governance for the company, including maintenance of risk inventory and policies, and preparing regular analyses and reports for management

Communicate effectively with manager and other team members, and successfully collaborate with other departments and partners to achieve objectives

Stay up to date on relevant regulatory guidelines and industry standards related to model risk management

Experience and Education Requirements

Bachelors Degree in Actuarial Science, Math, Finance, Statistics or other related area

Achieved FSA

10+ years of experience required within the Actuarial field and/or with actuarial models

Experience leading a team

Familiarity with life insurance and/or annuity product knowledge is required

Experience in formal controls and working with auditors is preferred

Significant recent experience in actuarial model design, development, implementation testing and/or validation is required

Understanding of actuarial projections and interactions between various product features and actuarial calculation results

Knowledge, Skills and Abilities

Solid oral and written communication and problem-solving skills

Good time-management skills; ability to manage competing priorities and deadlines

Experience with Microsoft Office Products (Excel, Access, Word, Powerpoint)

Knowledge of insurance products and insurance company operations

Demonstrate ability to apply actuarial principles to complex situations

Highly motivated, self-starter & team player with a high energy level and willingness to take on responsibility

Strong working knowledge of actuarial modeling systems; Moody's AXIS experience preferred

Excellent verbal, written, interpersonal, and communication skills

Able to work and communicate effectively with employees at all levels from various areas within the Company

Strong problem-solving skills that include advanced analytical and reasoning abilities, and ability to juggle multiple priorities simultaneously

Self-starter who demonstrates strong initiative and is able to operate efficiently in unpredictable and challenging project environments

Team player who has the ability to function as a key member of a small group, with demonstrated ability to proactively identify areas for improvement

Highly organized and disciplined enforcer of model governance protocols

Strong understanding of actuarial projections and interactions between various product features and actuarial calculation results

Unconditional integrity and commitment to delivering accurate information on schedule with committed dates of delivery

Support effective partnerships with key groups and individuals while possessing superior consultation and change management skills

Other Requirements

Perform other functions, duties and projects as assigned

Regular and punctual attendance

Minimal travel required (less than 10%)

#IND-HP

#LI-MK1

#LI-Remote.

Additional Information

Work Environments

F&G believes in an employee-centric flexible environment, which is why we offer the ability for in-office, hybrid and remote work arrangements. During the hiring process, you'll work with your leader to decide what works best for your role.

F&G complies with federal and state disability laws and makes reasonable accommodations for applicants and candidates with disabilities, unless such accommodation would cause an undue hardship for F&G. If reasonable accommodation is needed to participate in the job application or interview process, please contact .

Join our employee-centric hybrid work environment: F&G Careers

About F&G

Since 1959, Fidelity & Guaranty Life Insurance Company (F&G) has offered annuity and life insurance products to those who are seeking security in retirement and protection during life's unexpected events.

As a national Top Workplace1, an Iowa Top Workplace2 and a proud equal opportunity employer, F&G team members are empowered, collaborative, dynamic and authentic. We believe that by embracing these values, we will continue to build and strengthen the company while continuing to be a great place to work.

1Top Workplaces USA 2022 – 2023

2Des Moines Register Top Workplaces 2018 – 2022

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Full-time