What are the responsibilities and job description for the Model Risk Management Associate | Hybrid position at Allianz HU?
Job Level:
Professional
Location:
Minneapolis, MN, US, 55416
Area of Expertise:
Risk Management
Unit:
Allianz US Life
Employing Entity:
Allianz Life Insurance Company
Job Type:
Full-Time
Remote Job:
Hybrid working
Employment Type:
Permanent
ID:
69381
Position Cluster:
Non-Executive
Model Risk Management Associate | Hybrid
At Allianz Life, we are driven by our mission – we secure your future – and by our common goal of caring for tomorrow. We care for our employees by promoting an inclusive culture where everyone has the opportunity to grow and be rewarded for their success. We care for our customers by creating new products that help them protect their families and pursue their retirement goals. We care for our community by giving time, resources, and donations. And we care for the future by supporting sustainability, protecting the local environment, and promoting societal equity.
Within the Corporate Risk Management Department, the Model Risk Management Analyst Associate validates financial models in relation with Allianz Investment Management (AIM) hedging activities. You will develop model validation plan activities. You will ensure appropriate adherence to model governance, track progress to plans, and address changes to ensure best practices. You will report to the Senior Director of Model Risk Management and receive direction from the Senior Model Risk Management Analyst.
What you do:
Model Validation:
- Perform validation of hedging and financial models as an independent reviewer, whether for new models, model changes or as part of ad-hoc validations:
- Review inputs, assumptions and expert judgements
- Review the methodology and assess its mathematical or financial relevance
- Review the code and ensure that it is aligned with the methodology
- Review the documentation to ensure it is understandable
- Review outputs and controls
- Perform validation tests (backtestings, sensitivities to inputs and assumptions, code changes).
- Understand the modeling process including inputs, outputs and assumptions.
- Identify potential issues from validations, raise findings and align with model owners
- Track remediation plan items and work with model owners to ensure identified items are being addressed in due time.
Model Governance:
- Maintain models findings list and track remediation status.
- Work with model owners to understand the model changes being considered and assess if model changes will impact the validation status/plan.
What you bring:
- 0-2 years of experience required.
- Experience coding in one of the following languages: C, C , C# or Python with a strong preference for C#.
- Four-year degree required in Mathematics, Physics, Computer Science, Actuarial Science or related technical field.
- You must be legally authorized to work in the U.S. and will not require immigration sponsorship for visa status now or in the future (e.g. H1-B, L-1, TN, etc). If you are currently on CPT/OPT, you are ineligible due to the need for future immigration sponsorship.
This position is eligible to begin as a 12-week internship and transition into a full-time role upon completion.
Range: $67,000 – $134,000
Actual base salary may vary based upon factors such as relevant experience, qualifications, internal equity of peers, and geographic location. In addition to base salary, this position is eligible for an annual incentive program.
What we offer:
At Allianz Life, we’re proud to provide a benefits package that supports the True Balance of our employees and their families. We offer: a choice of comprehensive medical, dental and vision plan options, flexible spending and health savings accounts, tuition reimbursement, student loan retirement program, generous annual paid leave, an outstanding 401(k) company match, and life insurance. Plus, our employees enjoy an award-winning campus with an array of discounted amenities, including an onsite health center, child development center, fitness facility, convenience store and two cafeterias. Our employees and leaders take an active role in shaping our culture through our Employee Resource Groups, whose activities and advocacy contribute to an environment that welcomes, includes and celebrates diversity. Our generous benefits, campus amenities and inclusive, engaged culture are among the many reasons we’re routinely recognized as a top workplace employer.
69381 | Risk Management | Professional | Non-Executive | Allianz US Life | Full-Time | Permanent
Allianz Group is one of the most trusted insurance and asset management companies in the world. Caring for our employees, their ambitions, dreams and challenges, is what makes us a unique employer. Together we can build an environment where everyone feels empowered and has the confidence to explore, to grow and to shape a better future for our customers and the world around us. We at Allianz believe in a diverse and inclusive workforce and are proud to be an equal opportunity employer. We encourage you to bring your whole self to work, no matter where you are from, what you look like, who you love or what you believe in. We therefore welcome applications regardless of ethnicity or cultural background, age, gender, nationality, religion, disability or sexual orientation.
Join us. Let's care for tomorrow.
Salary : $67,000 - $134,000
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