As an Associate Actuary, you will be responsible for leading model governance within the Investment & Risk Operations team. In this role, the individual will learn about the company’s risk management framework and lead model governance initiatives – including best practices, validation, and regulatory oversight. The position will report to the Corporate Risk Management lead and reside within the Risk function.

Incumbent is expected to adhere to our in-office hybrid schedule – in West Chester office weekly on Tuesday and Wednesday.  Specific responsibilities are as follows:

• Lead Venerable’s model governance initiatives:
  • Learn Venerable’s model risk framework and promote the framework’s best practices company-wide
  • Provide model owners across Risk and Finance with guidance on the Model Risk Policy and related practices
  • Collaborate with IT partners and assist model owners to main up-to-date model inventory
  • Monitor model validation projects and make recommendations to Head of Investment & Risk Operations and Chief Enterprise Risk Officer
  • Facilitate recurring committee meetings – connect with business leaders to identify model and assumption changes, create agenda/minutes, and track model changes
  • Collaborate with other oversight areas including, but not limited to, financial control risk, operations risk, and business continuity risk
  • Review regulations around model governance which may include researching predictive analytics and ML/AI use cases in the insurance industry, monitoring changes to standards of practice, and identifying other emerging trends
  • Manage SOX/MAR processes related to model governance
• Improve governance processes surrounding model governance such as adding standards of practice, controls, automation, or creating process documentation
• Learn the Company’s enterprise risk management framework and expand responsibilities to other risk oversight practices gradually which may include hedge and derivative use compliance, key risk metric reporting, and insurance regulatory reporting

Provide ad-hoc support for urgent business needs across the Investment & Risk Operations team

• Bachelors degree in Mathematics, Actuarial Science, Finance or related business discipline
• ASA or newly credentialed FSA
• 5-6+ years financial, insurance industry, or actuarial experience
• Excellent computer skills: Excel, databases, actuarial projection/valuation software, programming (e.g., VBA, SQL, R/Python)
• Strong analytical skills or advanced knowledge of actuarial concepts; ability to use this knowledge to lead/develop solutions to ad hoc requests or issues
• Solid understanding of insurance products, regulations, or insurance company structure
• Previous experience in enterprise risk management, model validation, or modeling is a plus
• Leverages strong oral and written communication skills to effectively collaborate with internal/external customers; Strong cross-functional teamwork experience is a plus
• Detail oriented and strong analytical problem-solving skills to make informed decisions
• Ability to manage competing priorities and deadlines