AVP - Model Risk (Actuarial)
Associate Vice President - Model Risk Management
This organization is seeking a dynamic Associate Vice President to join its Enterprise Risk Management team in Newport Beach, CA. The role follows a hybrid schedule with four days on-site. Relocation assistance is available for candidates not currently located near an office.
The AVP will lead model risk governance and validation across a broad range of financial and risk models, supporting strategic growth in modeling capabilities while overseeing life and annuity models. This position involves partnering with business teams, model developers, and senior leaders to ensure models are fit for purpose, challenging assumptions, identifying risks, and delivering insights that enhance performance and reliability. The AVP will also play a key role in shaping and evolving the Model Risk Management (MRM) Framework to meet emerging business needs and industry standards.
Key Responsibilities
- Direct model risk validation and second-line governance across financial and risk models, ensuring alignment with organizational objectives.
- Challenge methodologies and assumptions to identify risks and drive improvements.
- Manage the Model Risk Management Committee, presenting outcomes and aggregate risk to senior leadership.
- Oversee second-line reviews of financial and risk assumptions.
- Lead and develop a team of investment and actuarial professionals.
- Establish a validation practice for investment models and foster strong relationships across the investment division.
- Collaborate with subject matter experts to advance the MRM Framework and support business strategy.
- Research industry trends and emerging practices to inform recommendations.
Qualifications
- 12+ years of experience with an FSA designation; advanced credentials such as CFA, FRM, CAIA, or PRM preferred.
- Expertise in financial and risk models, including hedging, ALM, capital, derivatives, structured and traditional assets, asset allocation, and scenario generators.
- Experience designing and implementing investment or hedging strategies for insurance products.
- Broad knowledge of life, annuity, and institutional insurance products, as well as investment assets.
- Strong communication skills with the ability to influence and challenge senior leaders and technical teams.
- Proficiency in industry-standard tools and programming languages.
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