Actuary, Model Governance and Operation Risk Analytics

3 weeks ago

Toronto, Canada Reinsurance Group of America Full time

Position Overview

A member of Enterprise Risk Analytics team, the Model Governance and Operational Risk Analytics leader contributes to the implementation of an effective global model risk programs and provide second line oversight to identify, measure, and monitor model risk.

This role is also expected to develop and implement MRM framework for RGA entities per entity specific regulatory requirements.

Other than Model Risk framework as the primary focus, this role will also contribute to the quantification of model risk for RGA enterprise.

Responsibilities

Implement the global Model Risk Management (MRM) framework and MRM strategy. Collaborates with key stakeholders on framework update and guidance for continuous improvement to align with evolving global regulations. Develop and implement entity specific MRM framework as required by emerging regulatory requirements. Executes all activities related to model risk oversight to monitor the use of models at RGA supported by the model risk policy and assessment plan. Conduct model validation and perform model risk assessment in accordance to the MRM policy, working in collaboration with functional associates. Support the evaluation, monitoring, and reporting of overall model risk exposure for RGA, identify trend and mitigation opportunities. Collaborate with Operational Risk committee to support the operational risk quantification methodology and process, including related socialization to ensure the methods are understood and used appropriately. Mentors junior associates within the department. May performs supervisory duties including, but not limited to: hiring, training, evaluating, coaching, and disciplining of direct reports. Maintains regular and predictable attendance. Performs other duties as required.

Requirements

Education, Experience, Skills & Abilities

Bachelor's degree in Math, Finance, Actuarial Sciences, Statistics or related field FSA accreditation 7+ years of insurance/reinsurance experience 5+ years of project and/or people management experience 5+ years of experience in actuarial modeling and risk management Demonstrated ability to develop and/or lead a global risk management program Highly advanced ability to translate business needs and problems into viable/accepted solutions Highly advanced investigative, analytical and problem-solving skills. Identifies and resolves technical, operational and organizational problems. Expert ability to balance detail with departmental goals/objectives Expert ability to make timely and effective decisions and produce results through strategic planning and the implementation and evaluation of programs and policies. Advanced project management skills. Demonstrates ability to evaluate project objectives and scope feasibility, gain understanding, schedule resources, and manage budget to plan. Highly advanced oral and written communication skills, demonstrating the ability to convey business terminology that is meaningful and well received Advanced skills in relationship management and change management Highly advanced ability to liaise with individuals across a wide variety of operational, functional, and technical disciplines Highly advanced persuasion and negotiation skills when working with internal/external customers Guides, influences and persuades others

Preferred:

MAAA accreditation or equivalent Master's degree in Math, statistics, Data Science, Risk Management or Finance Experience with model validation and risk assessment Familiarity with Artificial Intelligence models and predictive models 7+ years of actuarial modeling experience 5+ years of model risk governance experience Knowledge of actuarial software (Prophet, AXIS) and reinsurance valuation systems and process Reinsurance industry and product knowledge Knowledge in actuarial software

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