MG ALFA Modeller

EXL; Jersey City (NJ); On-site; USD 120,000 - 180,000; Full time

Job summary

EXL in Jersey City, NJ is seeking an experienced Actuarial Modeler focused on MG-ALFA to develop and maintain advanced actuarial models for Life Insurance and Annuities. You will configure inputs, update assumptions, and drive platform enhancements while supporting regulatory reporting requirements.

The role involves performing deterministic and stochastic cash flow projections, evaluating interest rate and behavior impacts, and collaborating with valuation, finance, investments, and risk teams

Qualifications

• 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) and Asset Adequacy Testing (AAT).
• Valuation and Projection Modeling; Scenario and Sensitivity Testing.
• Model Validation and Governance; regulatory and audit support.

Responsibilities

• Develop, maintain, and enhance actuarial models in MG-ALFA.
• Configure and update model inputs, assumptions, product specs, and logic.
• Perform model conversions, modernization, and platform enhancements.
• Support new product implementations and regulatory requirements within models.
• Model cash flows for life and annuity products under various scenarios.
• Support ALM studies, business planning, and sensitivity analyses.
• Assist valuation and projection activities for STAT, GAAP, LDTI; AAT and CFT.
• Conduct model testing, validation, reconciliation, and benchmarking.
• Collaborate with valuation, modeling, finance, investments, and risk teams; present findings to senior stakeholders.

Skills

MG-ALFA proficiency

Actuarial modeling

Stakeholder communication

Regulatory understanding

Problem solving

Tools

MG-ALFA

Excel

Job description

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.

Responsibilities

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

Qualifications

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