Assistant Actuary

Assistant Actuary – Model Risk Governance

Company Summary

Come join one of America's fastest growing insurance companies with a stable history of 175 years. At National Life Group ("NLG"), we offer a flexible work environment with opportunity for growth. As a mission-driven business, our promises are as important as the products we sell. We encourage our associates to live our values: Do Good. Be Good. Make Good.

Our mission extends beyond the insurance and annuities policies that we sell. Our cause is also to make the world a better place through grants from our charitable foundation, paid time for our employees to volunteer, environmentally sustainable and healthy work sites, and events that promote the work of nonprofits in our own backyard.

We invite you to explore what we have to offer and to join our cause.

Role

A strategic initiative of the Enterprise Risk Management (ERM) team at National Life is to mature its Model Risk Management (MRM) function. The MRM group is tasked with measuring, monitoring, and managing risk related to models across all company functions. Increased understanding of model risk will reduce exposure to vulnerabilities, set the agenda for risk management deliverables, and aid in critical company-wide decision making.

This candidate will play an integral part in the executing all facets of the MRM group. The candidate will assist in (i) creating and maintaining a model inventory, (ii) executing 2nd Line of Defense Model Risk for the life-cycle management of models for high risk and highly complex models, (iii) assessing whether the models adhere to industry and regulatory standards, and (iv) considering future enhancement of model performance and reliability. The candidate will partner with various teams across company functions, to include financial reporting, assumption-setting, pricing and product development, risk and capital management, as well as strategic planning and forecasting. The candidate will report to the Senior Director of Model Risk Governance and actively assist in presenting findings to senior management and important stakeholders.

Essential Duties and Responsibilities

Work with a team to perform model validation tests for medium and high-risk models by reviewing model input (data and assumptions), calculation engine, output, adequacy and design, and current controls. Assist in maintaining inventory of models across the company. Review modeling methodology, parameters and actuarial assumptions, model simplifications and limitations; review and provide feedback on model changes; review model documentation to ensure it meets model governance standards. Leverage specialized technical approaches to develop, implement, and execute model testing plans. Create model validation reports and communicate findings to model owners, senior leadership, and appropriate governance committees. Work with model owners to follow up on findings and recommendations to ensure they are implemented appropriately and in a reasonable timeframe. This position is presently onsite/hybrid with the expectation that you are in the office three days per week with current campus days being Tuesday, Wednesday and Thursday (subject to change with advance notification and manager discretion). Minimum Qualifications Bachelor's degree in a quantitative field, such as Economics, Mathematics, Statistics, Actuarial Science.Associate of the Society of Actuaries (A.S.A.) required4 years of related work experience in pricing, valuation, model validation or model development. Strong experience communicating complex quantitative/technical concepts and conclusions to senior leadership, auditors, and/or regulators. Strong understanding or proficiency in programming Knowledge of life insurance and annuity products Business and industry acumen in modeling governance techniques and approaches. Strong coordination, communication, and influencing skills Specific experience with actuarial modeling software (e.g. MG-ALFA, PolySystems, Axis, Prophet) Preferred Qualifications 2+ years of experience in Model Validation. Experience in monitoring and tracking emerging trends and best practices in model risk management. Proficient in VBA Experience working in MG-ALFA or PolySystems Benefits Your benefits start day one and are flexible and customizable to your and your family's specific needs. Check out the BENEFITS of a Career at National Life

The base compensation range represents the low and high end of the range for this position. Actual compensation will vary and may be above or below the range based on various factors including but not limited to qualifications, skills, competencies, location, and experience. The range listed is just one component of our total compensation package for employees. Other rewards may include an annual bonus, quarterly bonuses, commissions, and other long-term incentive compensation, depending on the position. National Life offers a competitive total rewards package which includes: a 401(k) retirement plan match; medical, dental, and vision insurance; a company funded wellness account for director and below employees; 10 paid holidays; a generous paid time off plan (22 days of combined time-off for non-exempt employees and exempt employees have discretion in managing their time, including scheduling time off in the normal course of business, but in no event will exempt employees receive less sick time than required by state or local law); 6 weeks of paid parental leave; and 6 weeks of paid family leave after a year of full-time employment. National Life is accepting applications for this role on an ongoing basis and the role remains open until filled. National Life Group is a trade name of National Life Insurance Company, Montpelier, VT – founded in 1848, Life Insurance Company of the Southwest, Addison, TX – chartered in 1955, and their affiliates. Each company of National Life Group is solely responsible for its own financial condition and contractual obligations. Life Insurance Company of the Southwest is not an authorized insurer in New York and does not conduct insurance business in New York. Equity Services, Inc., Member FINRA/SIPC, is a Broker/Dealer and Registered Investment Adviser affiliate of National Life Insurance Company. All other entities are independent of the companies of National Life Group. Fortune 1000 status is based on the consolidated financial results of all National Life Group companies. National Life Group 1 National Life Dr Montpelier, VT 05604 Social Media Policy Site Disclosure and Privacy Policy

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