- Entry level
- No Education
- Salary to negotiate
AC - Actuarial
Estimated Travel Percentage (%): Up to 25%
Relocation Provided: Yes
Fortitude Group Services, Inc
Assistant Actuary Life Experience Studies Fortitude Re
American International Group, Inc. (AIG) is a leading international insurance organization with operations in more than 130 countries and jurisdictions. AIG companies serve commercial, institutional and individual customers through one of the most extensive worldwide property-casualty networks of any insurer. In addition, AIG companies are leading providers of life insurance and retirement services around the world. AIG common stock is listed on the New York Stock Exchange, as well as the stock exchanges in Ireland and Tokyo.
Fortitude Re: In 2016, AIG created a third reporting segment, Legacy, to manage non-core assets and liabilities, and businesses in run-off, with the objective of balancing the benefits of return of capital or capital redeployment, with potential near-term reductions in book value. The launch of the Fortitude Re entity in 2017 was an important early step in achieving that objective. AIG continued the Fortitude Re strategy by announcing a strategic partnership with The Carlyle Group to achieve the long-term vision for Fortitude Re. Fortitude Re currently reinsures $36 billion of AIG’s Legacy Life and Annuity and General Insurance liabilities. Fortitude Re’s diversified risk portfolio, strong claims operation, and efficient administration capabilities provide the foundation for a platform that can be scaled over time to offer unique solutions to external parties. AIG and Carlyle plan to build Fortitude Re into a standalone platform with financial strength that complements its strategically differentiated capabilities. For more information, please visit http://www.aig.com/investor-relations.
Travel: 0% to 15%
Experience: Minimum of 3 years
Reporting Relationships and Organizational Scope
This role will report to the manager of Life Experience Studies. The Assistant Actuary will support experience studies reporting, analysis, and ad hoc projects on business assumed by Fortitude Re. This role will be solely dedicated to Fortitude Re.
Role and Responsibilities
- Build and automate reports for regular Actual to Expected studies on each block against multiple pricing/reserving assumptions
- Provide assistance to the process of updating the reserving assumptions as necessary preferably using predictive modeling techniques such as (but not limited to) GLM, Bayesian Regression, Survival Analysis, and Machine Learning techniques (e.g. Decision Tree, SVM, Naïve Bayes)
- Develop and maintain code (using Alteryx/R/Python) for data verification, data preparation and reporting
- Work with external consultants and internal teams to ensure seamless transition of data and reporting systems from AIG-Core to Fortitude Re.
- Develop detailed documentation regarding experience studies processes, change controls, and validation exhibits
- Support the technical aspects in developing the life reporting infrastructure with an emphasis on building repeatable processes with built-in review capability.
- Research and respond to internal and external auditors (e.g., PwC) requests in their periodic reviews.
- Update Fortitude Re’s processes as required for regulatory developments
- Bachelor’s degree in Statistics, Mathematics, or related field.
- Experienced ASA in Society of Actuaries preferred
- 3+ years of progressively more responsible experience
- Excellent mathematical, analytical and problem solving skills with attention to detail
- Excellent problem solving skills
- Experience with analyzing mortality, longevity and policyholder behavior preferred
- Demonstrated success working in collaborative teams
- Previous experience with R, SAP Analytics Cloud, Alteryx a plus
- Familiarity with Logistic Regression, GLMs, Decision Trees, Random Forest, CART, CHAID, SVM, Bayesian Networks, Time Series Forecasting, ANOVA, Design of Experiment helpful.
- Excellent written and oral communication skills with ability to work across geographies
- Goal-oriented and well-organized, with the ability to develop and manage multiple disciplined processes
- Desire to work in a ‘start-up’ environment, both independently and as a team.
- Highly motivated and results-oriented with strong analytical skills
- Strong project management skills with a desire to deliver a complete work product.
- Solid interpersonal and influencing skills
It has been and will continue to be the policy of American International Group, Inc., its subsidiaries and affiliates to be an Equal Opportunity Employer. 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.
At AIG, 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.
About the company
American multinational insurance corporation with more than 88 million customers in 130 countries. AIG companies employ over 64,000 people in 90 countries. The company operates through three businesses: AIG Property Casualty, AIG Life and Retirement and United Guaranty Corporation (UGC). AIG Property Casualty provides insurance products for commercial, institutional and individual customers.