Join to apply for the Associate Director, Model Development, Quantitative Analysis role at AM Best
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Join to apply for the Associate Director, Model Development, Quantitative Analysis role at AM Best
- Medical plan options/prescription drug plan
- Dental plan/vision plan options
- Flexible spending and health savings accounts
- 401(k) retirement savings plan with a Roth savings option and company matching contributions
- Educational assistance program
- Flexible and hybrid work arrangements
- Paid time off/Paid company holidays
- Medical plan options/prescription drug plan
- Dental plan/vision plan options
- Flexible spending and health savings accounts
- 401(k) retirement savings plan with a Roth savings option and company matching contributions
- Educational assistance program
Overview
The Associate Director (AD) position is responsible for the development of analytical models and tools related to the rating process within AM Best. The AD, with knowledge of life/health actuarial models, will support mostly the modeling aspects of the Quantitative Analytics Module, which is a platform for analytics and it services the Unified Analytical Framework, a newly developed web service that will serve as the central application for risk capital analytics. Currently, the main component of the UAF is the Capital Model. The role's responsibility also includes supervising team members, in addition to personal involvement in the development of new models and tools as well as the maintenance of existing models and tools. This position is characterized by highly visible responsibilities.
Responsibilities
- Develop and enhance capital models and supporting applications (Loss Reserve Models, Rating metrics, Liquidity, Surety Risk, Stress testing, Forecasting, Reinsurance risk, etc)
- Design robust, scalable, reusable, strategic solutions for insurance risks achievable by applying solid actuarial principles, standards, and governance principles that can sustain scientific rigor when conjoined
- Drive the process, describe complexity, be a positive influence and provide wise leadership
- Manage and develop team members
- Support the training of rating analysts and other analytical staff on how the models and tools work
- Communicate with rating analysts and other analytical staff regarding current state of models, tools, and proposed updates
- Make presentations on AM Best's models and company metrics used to develop a rating, as needed
- Understand AM Best's data management process and how data are used in analytical models
- Maintain documentation of and version control on the models and tools put into use for ratings
- Participate in developing documentation for all models and tools used in the rating process
- Communicate model needs to IT area to ensure the systems are available to the analytical staff
- Interact with the analytical staff to fully understand their needs for the rating analysis and methodology review process
- Leverage predictive analytics routines drawing upon experience in working with data in varying forms
Qualifications
- 5 plus years of demonstrated capital modeling or risk modeling work
- Master's Degree in a Quantitative Discipline
- Coding experience. Experience with any coding language, preferably Python, C, C++, R
- Fellow of the SOA (Associate will be considered as well as CAS credentials), if there is demonstrated knowledge of life insurance
Skills
- Strong understanding of life insurance products and risks
- Strong communication skills with cross-functional teams and the ability to explain technical issues to non-technical people is highly important, accompanied by the ability to arrive at the best possible solution under dynamically evolving circumstances
- Strong knowledge of the challenges to overall architecture of economic capital modeling and its underlying components
- Leadership skills with the ability to work with senior members of the organization towards the corporate mission
- Strong knowledge of capital modeling and simulation techniques
- Strong understanding of risks and their aggregation
- Understanding of Investment Risk and Regulatory Financial Reporting
- Public speaking skills a plus
- Strong computer skills, including Microsoft Office
- Good coding ability (can read and understand code regardless of coding language)
- Ability to learn internal systems (BestLink) to be able to pull data and manipulate that data for analysis
- Self-motivated, with a demonstrated ability to work on your own
- Project Management skills
Seniority level
- Mid-Senior level
Employment type
- Full-time
Job function
- General Business, Management, and Business Development
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