What are the responsibilities and job description for the Quantitative Risk Analyst position at Corebridge Financial?
Who We Are
Corebridge Financial helps people make some of the most meaningful decisions they’re ever going to make. We help them plan and take action to protect the future they envision and respond to some of life’s most difficult moments through the solutions and services we provide. We do this through our broad portfolio of life insurance, retirement and institutional products, offered through an extensive, multichannel distribution network. We provide solutions for a brighter future through our client centered service, breadth of product expertise, deep distribution relationships, and outstanding team of hardworking and passionate employees.
The Department
Market Risk Management is a multi-disciplinary financial derivatives team that applies state-of-the-art technology in performing highly dynamic work. Our mandate is to manage one of the most complex derivatives available today: retirement living benefit guarantees. In service of that mandate we: manage a $50 billion multi-asset hedging portfolio, do research and development of new retirement products, and provide modeling and analytics expertise for the business. We are part of a larger organization but cultivate the entrepreneurial spirit of a small start-up. Our work is cutting edge within the industry.
The Team
The Modeling Team (FQA - Financial Quantitative Analysis) develops, tests, and maintains the valuation framework to support the management of the hedging portfolio. The team also manages the automation around the daily large-scale Monte-Carlo simulations used to value the 300K customer accounts we manage. We are seeking team members to help us maintain and enhance a best-in-class valuation framework. The team is also responsible for driving automation to financial management reports and designing dashboards to automate market risk monitoring.
About the role
We need a talented quantitative risk analyst with strong programming skills to join our team. This analyst will work with the MRM Modelling Team and will be responsible for creating and maintaining code for both assets and liabilities. Variable annuities (VA) and index annuities (IA) are complex exotic options that require sophisticated math, finance and computer science skills to correctly model. In order to hedge portfolios of these policies on a daily basis careful attention must paid to the platform and how all the components interact. We are looking for a candidate that can bring all of these skills to the table to help us build and maintain a best-in-class valuation framework. Our ideal candidate will have experience in a financial engineering capacity however we are open to candidates with no financial experience.
Principle Responsibilities
- Develop, design, and maintain the in-house risk analytics platform
- Update the platform to support new/updated insurance products
- Document model and systems implementations and create unit/regression tests
- Provide production support to Operations/IT team
- Provide ad-hoc analysis to support testing, auditor, and stakeholder queries
What we are looking for
- Detail and process oriented.
- Programming experience in Python/C#/Java and SQL a plus
- Familiarity with quantitative financial risk concepts, derivatives, hedging techniques a plus
- Experience supporting and working with cross-functional teams in a dynamic environment.
- Strong written and verbal communication skills.
- Self-starter
- Strong academic record in a subject(s) with a strong computational emphasis (e.g. computer science, engineering, applied math, computational science, etc.); bachelor’s degree required; master’s degree a plus.
What our employees like most about working for Corebridge Financial
- We care about your professional development. Our career progression and tuition reimbursement program will provide you with the opportunity to develop your skills, strengthen your productivity and be eligible to progressively advance to positions with an increased responsibility and increased compensation.
- Our “Giving Back” policy is at the core of our daily operations and guides our future progress. Don’t believe us? We put our money where our mouth is! Corebridge Financial, will give you up to 16 hours a year paid time off to volunteer in the community.
- Our people are our most important asset therefore we provide a generous benefits plan and competitive pay. Benefit package includes:
- Paid Time Off: Corebridge Financial recognizes the importance of work life balance). We offer 24 PTO days to start. YES, 24! 9 paid holidays per calendar year.
- A 401(k) Retirement Plan which will be HARD TO BEAT. Our 401K - $1 for $1 match up to 6% with immediate vesting, plus Corebridge Financial automatically contributes an additional 3% into your 401K regardless of if you enroll or not.
For positions based in Woodland Hills, CA, the base salary range is $92,000-$116,000 and the position is eligible for a bonus in accordance with the terms of the applicable incentive plan. In addition, we’re proud to offer a range of competitive benefits.
#LI-CBF
We are an Equal Opportunity Employer
Corebridge Financial, Inc., its subsidiaries and affiliates are committed to be an Equal Opportunity Employer and its policies and procedures reflect this commitment. 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 such as sexual orientation. At Corebridge Financial, 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.
To learn more please visit:
www.corebridgefinancial.com
Corebridge Financial is committed to working with and providing reasonable accommodations to job applicants and employees with physical or mental disabilities. If you believe you need a reasonable accommodation in order to search for a job opening or to complete any part of the application or hiring process, please send an email to
We consider qualified applicants with criminal histories, consistent with applicable law.candidatecare@aig.com
. Reasonable accommodations will be determined on a case-by-case basis.
Functional Area:
FA - Finance
Estimated Travel Percentage (%): Up to 25%
Relocation Provided: Yes
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