Associate Director, Actuary

Who we are

At Corebridge Financial, Action is Everything. We are a new company, but not a new business. Formerly AIG Life & Retirement, we are one of the largest and most established providers of retirement solutions and insurance products in the United States, with a long and proven track record of serving our clients. Everyday, we proudly partner with financial professionals and institutions to make it possible for more people to take action in their financial lives, for today and tomorrow.

Summary of the role

The lead of VA model development will act as the lead of Corebridge’s effort to modernize and transform the actuarial modeling process in variable annuity projection models. The models developed on Moody’s Axis platform will be used to produce Statutory, GAAP and economic projections which directly support capital management, asset liability management, and regulatory projections such as cash flow testing. This individual will have frequent and regular interact with other development teams, model owners, model production team and key partners in Finance, Enterprise Risk Management and IT teams.

Role and responsibilities

• Lead variable annuity development  for implementing  liability assumptions, products, and requirements for statutory reserve, GAAP, hedging, cash flow testing and budget projections in the Moody’s Axis model.
• Maintain and develop GMWB DLL build to interact with Moody’s Axis.
• Follow the software development cycle. Deliver model with automated production process and controls. Work with testing team on impact attribution and user acceptance testing.
• Assist production and testing areas with automation, impact analysis, and other model related issues.
• Partner with IT to automate data transformation for production processes and improve hand-offs from model development/testing teams to model production team through automation, documentation, and training.
• Develop detailed documentation of model design, processes, deficiencies, and validation in accordance with the corporate and regulatory standards.
• Effectively prioritize and execute tasks and provide updates to a team of project managers to help achieve project milestones and planned builds.
• Mentor analysts joining/rotating in the team.
• Communicate and collaborate with other teams including testers, model owners, software developers etc. on model development and address any issues.
• Work collectively with the production team for continuous improvements of the model.

The ideal candidate will have the following experience and qualifications:

• 4 years college degree,  M.S. or Ph.D . degree in a quantitative field (Applied Mathematics,  Statistics, Computer Science, Actuarial, Financial Engineering or related) is preferred
• 5 + years of experience and 5+ years of relevant insurance modeling experience
• Fellow of the Society of Actuaries is preferred.  Strong career ASA with track record will be considered.
• Proficient in at least one actuarial modeling system, Moody’s Axis experience preferred.
• Proficient in at least one programming language, C++, C#, VBA, or Python
• Strong written and verbal communication and stakeholder management skills
• Highly motivated with great attention to details, ability to drive initiatives and meet timelines

• Ability to handle multiple ongoing projects at the same time

What our employees like most about working for Corebridge Financial

• We care about your professional development. Our career progression program will provide you with the opportunity to develop your skills, strengthen your productivity and be eligible to progressively advance to positions with an increased responsibility and increased compensation. 
• Our “Giving Back” policy is at the core of our daily operations and guides our future progress. Don’t believe us?  We put our money where our mouth is! Corebridge Financial, will give you up to 16 hours a year paid time off to volunteer in the community.
• Our people are at the forefront of creating value for customers and stakeholders and therefore we provide a generous benefits plan and competitive pay.

Benefits

• Paid Time Off (Corebridge Financial recognizes the importance of work life balance). We offer 24 PTO days to start. YES, 24! 17 paid holidays per calendar year. 
• A 401(k) Retirement Plan which will be HARD TO BEAT. Our 401K - $1 for $1 match up to 6% with immediate vesting, plus Corebridge Financial automatically contributes an additional 3% in to your 401K regardless of if you enroll or not.

For positions based in Jersey City, NJ and Woodland Hills, CA the base salary range is $110,00 - $160,000. In addition, the position is eligible for a bonus in accordance with the terms of the applicable incentive plan. In addition, we’re proud to offer a range of competitive benefits:

https://sprcdn-assets.sprinklr.com/248/723ffa1b-01a8-4f89-b8aa-7469d8e62d81-213797826/2023-benefits-overview-for-cor.pdf

#LI-SB1  #LI-SAFG #LI-Remote

We are an Equal Opportunity Employer

Corebridge Financial, Inc., its subsidiaries and affiliates are committed to be an Equal Opportunity Employer and its policies and procedures reflect this commitment. We provide equal opportunity to all qualified individuals regardless of race, color, religion, age, gender, gender expression, national origin, veteran status, disability or any other legally protected categories such as sexual orientation. At Corebridge Financial, we believe that diversity and inclusion are critical to our future and our mission – creating a foundation for a creative workplace that leads to innovation, growth, and profitability. Through a wide variety of programs and initiatives, we invest in each employee, seeking to ensure that our people are not only respected as individuals, but also truly valued for their unique perspectives.

To learn more please visit: www.corebridgefinancial.com

Corebridge Financial is committed to working with and providing reasonable accommodations to job applicants and employees with physical or mental disabilities.  If you believe you need a reasonable accommodation in order to search for a job opening or to complete any part of the application or hiring process, please send an email to TalentandInclusion@corebridgefinancial.com.   Reasonable accommodations will be determined on a case-by-case basis.

We consider qualified applicants with criminal histories, consistent with applicable law.

Functional Area:

AC - Actuarial

Estimated Travel Percentage (%): No Travel

Relocation Provided: No

American General Life Insurance Company