Modeling Actuary

Modeling Actuary

Job Title Modeling Actuary
Requisition # 18999BR
Business Unit USFS
Job Family Actuarial
Position Location Windsor - CT
Department Name Risk Management
No. of Openings 1
Full-Time or Part-Time Full-Time
Relocation Assistance Offered? No
We will consider candidates willing to: Work at Position Location specified above only
Salary Salary Commensurate with Experience
What is ING? ING Insurance Americas is a vital part of worldwide ING Group, one of the largest diversified financial services organizations in the world with operations in more than 50 countries and 112,000 employees. We're a leading provider of financial products and services for individuals and businesses, including life insurance, annuities, mutual funds, retirement plans and employee benefits. ING recognizes the critical role our employees play in our success as a company...we understand the link between customer satisfaction and employee satisfaction. As a result, we're building a different work experience for our employees, an experience that appeals to what they value most in a work relationship.
What are the job responsibilities? Reporting

Reports to Retirement Services Model Development Lead

Objective

Create efficient, integrated, robust, and consistent asset/liability MoSes projection models to support Actuarial Guideline 43, Cash Flow Testing, Economic Capital, Market-Consistent Embedded Value, Pricing, RBC, Reserve Adequacy Testing, VNB/MCVNB, FAS 133/157, and general risk analysis
Responsibilities

? Key player in development and implementation of Retirement Services Asset/ Liability stochastic MoSes Model for all Retirement Services products including variable annuities with fixed and variable funds, new money rate fixed annuities and variable annuities with living benefits
? Analyze results of models for reasonableness, key drivers, interaction of assets and liabilities, and understand effects of liability optionality;
? Focus on model governance and ensure controlled, efficient process is being followed
? Ensure implementation plans are well thought out and accurate, and testing is thorough and complete.
? Communicate results and issues to management and liaise with other functional areas
? Enhance MoSes model to include all key product features and ensure it accurately captures the risk profile of the business.
? Develop efficient, integrated, and consistent model to be used across all actuarial functions which includes understanding current models and methodologies
? Determine innovative ways to model nested stochastic and new cutting edge emerging practices
? Understand pricing models and how to integrate assumptions and methodology into current Asset Liability in-force models
? Work with investment analyst to model assets and hedging strategies i.e. minimum guarantee hedging, understanding effects of the MBS derivative portfolio
? Improve overall efficiency and accuracy of models
? Work with pricing area to model and analyze new product designs
? Ensure model documentation is current and appropriate
Who is our ideal candidate? Ideal Candidate

The ideal candidate will have strong and credible experience in stochastic asset/liability modeling on an open platform, demonstrate superior analytical skills and have a proven ability to succeed in a high performing culture.
The candidate should be a self starter who takes initiative and values accuracy.
The candidate should have ASA or FSA designation with the Society of Actuaries.
Strong communication and technical skills are also required.
Annuity experience a plus.

Qualifications

A candidate for the position would be required to have the following qualifications:

? Associate or Fellow of the Society of Actuaries with at least 5 years of solid industry experience; Variable annuity or other relevant annuity product background preferred.
? Solid background in the MoSes actuarial software package or expertise in another actuarial software package such as Prophet, MG-ALFA (preferably an open system)
? Superior analytical skills including an understanding of various risk and profit drivers and metrics
? Strong stochastic Asset/Liability modeling skills, including dynamic interaction and understanding of liability optionality effects. Strong asset knowledge (bonds, mortgages, CMOs/mortgage pass-throughs) preferred.
? Effective communication skills and the ability to interact well with individuals from other functional areas; presents ideas and data completely and clearly
? Creativity and problem solving; driven to finding innovative and efficient solutions
? Detail oriented and focused on accuracy
? Ability to handle shifting priorities; flexible
? Holds self accountable for commitments and results

Additionally, the following skills, abilities and characteristics are also considered important:
. Self starter
. Initiative
. Drives for results
. Intellectual curiosity
. Organization and planning skills
. Energetic, self-assured, self-motivated, enthusiastic and achievement-oriented
. A bias for action and a passion for success

The following additional qualifications would be of benefit to this position:
? Knowledge of C++, VBA and SQL
? Previous experience with SAS
? Expertise in more complex assets, such as interest rate derivatives, inverse floaters
? Nested stochastic modeling expertise

Interactions
? Pricing, Valuation, Finance, Investment Management, Insurance Risk Management, IT
What else can we tell you? Our new facility in Windsor, CT is one of the largest office developments built in the Greater Hartford Area. The site is centrally located, has good highway access and plenty of room for on-site parking. In addition, there is a full-service cafeteria, an on-site fitness facility, and much more. The site is a smoke-free environment and business casual attire is currently the standard.

In addition to a competitive salary and bonus plan, we offer:
. Medical and dental coverage for employees, their spouses, children and domestic partners.
. 401K Savings Plan with a dollar for dollar match for the first 6% of eligible pay, multiple investment options, and immediate eligibility and vesting after 4 years.
. Paid Time Off (PTO) bank of days for employees to use for any reason; 20 days in first full year of employment, 23 days beginning in the fifth year of employment.
. Health and dependent care spending accounts available. Company provided life insurance for employees; may purchase additional for self, spouses and children.
. Company holidays based on the NYSE calendar, jury duty, military leave, bereavement and community service time.
. Opportunities for professional growth and much more!

ING is an equal opportunity employer and we are committed to maintaining a diverse workforce. In addition, ING's diversity accolades include the 2008 Catalyst Award, Best Places to work for LGBT Equality since 2006, and 2006 Hispanic Magazine's "Hispanic Corporate 100: One hundred companies providing the most opportunities for Hispanics."
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