MG ALFA Modeler

EXL; New York (NY); On-site; USD 120,000 - 180,000; Full time

Job summary

EXL is seeking an experienced Life Actuarial Modeling professional with deep expertise in MG-ALFA to support ALM, cash flow modeling, valuation, projections, and regulatory reporting for Life and Annuity products.

You will develop, validate, and maintain actuarial models used for liability valuation, capital assessment, and asset adequacy testing, collaborating with cross‑functional teams and regulators as needed.

Qualifications

• 8–10 years of actuarial modeling experience within Life Insurance and Annuities.
• Strong MG-ALFA expertise (mandatory).
• Hands-on ALM, CFT, and AAT development and validation.
• Valuation, projection modeling, scenario and sensitivity testing.
• Model governance, documentation, and audit support.

Responsibilities

• MG-ALFA model development, maintenance, and enhancements.
• Perform ALM cash flow projections and scenario testing.
• Support regulatory reporting (STAT, GAAP, LDTI) and AAT/CFT activities.
• Model validation, reconciliation, and governance participation.
• Collaborate with valuation, finance, investments, and risk teams.

Skills

MG-ALFA

ALM

CFT

AAT

Valuation modeling

Scenario testing

Model validation

Governance

Job description

Role Overview

We are seeking an experienced Life Actuarial Modeling professional with deep expertise in MG-ALFA (mandatory) to support Asset Liability Management (ALM), cash flow modeling, valuation, projections, and regulatory reporting for Life and Annuity products. The candidate will play a key role in developing, enhancing, validating, and maintaining actuarial models used for liability valuation, business planning, capital assessment, and asset adequacy testing.

Key Responsibilities

MG-ALFA Model Development & Maintenance

• Develop, maintain, and enhance actuarial models in MG-ALFA.
• Configure and update model inputs, assumptions, product specifications, and calculation logic.
• Perform model conversions, model modernization, and platform enhancements.
• Support implementation of new products and regulatory requirements within actuarial models.

Asset & Liability Cash Flow Modeling

• Perform deterministic and stochastic cash flow projections for Life and Annuity products.
• Model asset and liability cash flows under various economic and business scenarios.
• Support Asset Liability Management (ALM) studies and business planning exercises.
• Evaluate impact of interest rate movements, policyholder behaviour, and investment strategies on profitability and capital.

Regulatory & Financial Reporting Support

• Support valuation and projection activities for STAT, GAAP, LDTI, and economic balance sheet applications.
• Assist in Asset Adequacy Testing (AAT), Cash Flow Testing (CFT), and reserve adequacy assessments.
• Analyze results and explain movements in reserves, earnings, and capital metrics.

Model Validation & Governance

• Perform model testing, validation, reconciliation, and benchmarking.
• Investigate and resolve model setup, assumption, and projection issues.
• Participate in model governance, documentation, peer review, and audit support.
• Ensure regulatory and actuarial standards compliance.

Stakeholder Collaboration

• Work closely with valuation, modeling, finance, investments, and risk management teams.
• Present modeling results, business insights, and recommendations to senior stakeholders.
• Support offshore-onshore delivery and client interactions.

Candidate Profile

• 8-10 years of actuarial modeling experience within Life Insurance and Annuities
• Strong expertise in MG-ALFA (mandatory)
• Hands-on experience with:
• Asset Liability Modeling (ALM)
• Cash Flow Testing (CFT)
• Asset Adequacy Testing (AAT)
• Valuation and Projection Modeling
• Scenario and Sensitivity Testing
• Model Validation and Governance

Experience working with:

• Bermuda Regulation (Preferred)
• STAT
• GAAP / LDTI

Strong understanding of:

• Mortality, lapse, expense, and investment assumptions
• Asset reinvestment strategies
• Interest rate and economic scenario modeling
• Life insurance and annuity products