What are the responsibilities and job description for the Associate, Actuarial Modeling position at gafg?
COMPANY OVERVIEW
Global Atlantic Financial Group is a leading insurance company meeting the retirement and life insurance needs of individuals and institutions. With a strong financial foundation and risk and investment management expertise, the company delivers tailored solutions to create more secure financial futures. The company's performance has been driven by its culture and core values focused on integrity, teamwork, and the importance of building long-term client relationships. Global Atlantic is a wholly-owned subsidiary of KKR, a leading global investment firm. Through its relationship, the company leverages KKR's investment capabilities, scale and access to capital markets to enhance the value it offers clients. KKR's parent company is KKR & Co. Inc. (NYSE: KKR).
Watch the Global Atlantic & KKR Partnership Story
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POSITION SUMMARY:
This associate position is in the Corporate Actuarial Department at Global Atlantic’s Boston office. In light of the company’s ambitious growth expectations, this newly created role is needed to support our actuarial team based in Bermuda by providing model development services and ensuring a smooth and efficient production process, partnering with the Model Production team in Bermuda. The position offers great opportunities to interact with experienced actuaries across multiple functions.
RESPONSIBILITIES:
- Extract, Transform, Load (ETL) development in Milliman’s Integrate platform to support Bermuda’s Best Estimate Liability (BEL) production and other financial lenses.
- Develop and maintain actuarial models in MG-ALFA to support BEL and related Bermuda valuation and financial reporting processes. This includes insurance liability cash flow modeling and integrated asset-liability modeling. Ensure the readiness of model and production process when new deals are onboarded.
- Test and analyze model results, including setting expectations for model change impacts. Document the development process and specific model changes.
- Communicate with Bermuda actuarial team to understand and prioritize business needs. Coordinate with other model developers/ users for a smooth and accurate model development-to-release process.
- Support internal and external audit activities as well as regulatory exams and inquiries, as needed.
QUALIFICATIONS:
- Bachelor’s degree in Actuarial Science, Mathematics, Statistics, Finance, or other related fields.
- FSA with 5 years or career ASA with 10 years years of experience in the life and annuity insurance industry.
- Experienced with programming languages such as Python or SQL.
- Self-starter and quick learner, being able to solve complex issues independently and in collaborative team settings.
- Strong communication, technical and analytical skills.
- Strong controls mindset, including documentation and change management best practices.
- Experience with MG ALFA is preferred.
- Bermuda EBS or Solvency II valuation experience is preferred.
- Ability to excel in a dynamic and fast-paced environment.
To be considered for this role, applicants must be authorized to work for any employer in the U.S. We are unable to sponsor or assume sponsorship of an employment Visa at this time.
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Various jurisdictions have passed pay transparency laws that require companies provide salary ranges for any positions for which they are accepting applications. Global Atlantic has offices in Atlanta, Batesville, Bermuda, Boston, Des Moines, Hartford, Indianapolis, and New York City. The base salary range posted below is inclusive of the lowest cost of living geography to the highest in which we have a Global Atlantic office.
Global Atlantic’s base salary range is determined through an analysis of similar positions in the external labor market. Base pay is just one component of Global Atlantic’s total compensation package for employees and at times we hire outside the boundaries of the salary range. Other rewards may include annual cash bonuses, long-term incentives (equity), generous benefits (including immediate vesting on employee contributions to a 401(k), as well as a company match on your contributions), and sales incentives. Actual compensation for all roles will be based upon geographic location, work experience, education, licensure requirements and/or skill level and will be finalized at the time of offer. Compensation for our more senior positions have a larger component of short-term cash bonus and long-term incentives.
The base salary range for this role is
$84,500 - $160,800 USD
TOTAL REWARDS STATEMENT
Global Atlantic’s employees thrive in a fast-paced, high-performing culture with strong benefit options and wellbeing resources that support innovation, accountability and stewardship. At Global Atlantic, being an employer of choice means we are committed to offering employees a customizable and comprehensive benefits package. Global Atlantic’s total rewards package is reflective of our corporate values, particularly diversity, excellence and innovation, with a focus on inclusion, pay equity, and flexibility. We strive to foster a culture of total well-being through community outreach and charitable giving programs. Learn more about our Charitable Giving Programs.
Our highly competitive health, retirement, life and disability plans can be tailored to best suit your needs and those of your whole family. Global Atlantic was proudly named: Best in Perks & Benefits, Best Company Work-Life Balance, Best Company Happiness and Best Company Compensation. Learn about our Benefits offerings.
Employees who require an accommodation to perform the essential functions of their job will participate in an interactive process which may include providing documentation. If you require an accommodation during the hiring process or after you are hired for any protected status under the ADA, please email benefits@gafg.com.
Discover more about Global Atlantic below:
2023 Corporate Responsibility Report
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Our employees are in the office 4 - 5 days per week in Hudson Yards, NY and 3 - 4 days per week in all other offices. If you have questions on this policy or the application process, please reach out to benefits@gafg.com
Global Atlantic reserves the right to modify the qualifications and requirements for this position to accommodate business needs and regulatory changes. Future adjustments may include obtaining specific licenses or certifications to comply with operational needs and conform to applicable industry-specific regulatory requirements, state and federal laws.
