Model Risk Analyst Manager | Hybrid

Allianz Group; Minneapolis (MN); Sur place; USD 100 000 - 200 000; Plein temps

Avantages offerts par ce poste

Medical, dental, vision benefits

Tuition reimbursement

401(k) match

Paid time off

Résumé du poste

Allianz Life seeks an experienced Model Risk Analyst Manager/Associate Actuary to independently validate actuarial and capital models used for financial and regulatory reporting. You will partner with Actuarial, Finance and Investments, following governance guidelines and promoting sound risk practices.

The role spans model validation, governance, and stakeholder management, with a focus on back-testing, documentation, and remediation tracking.

Qualifications

• Bachelor's degree in Actuarial Science, Mathematics, Statistics, Data Science, Financial Engineering, Physics or a related quantitative discipline.
• 10+ years of actuarial modeling or validation experience in life insurance.
• Hands‑on with statutory reporting and reserving methodologies (CARVM, VM-20, VM-21).
• Experience with RBC modeling and related regulatory frameworks.
• Strong governance and validation practice knowledge.
• Experience with RAFM, Python, R, SQL, VBA; strong data/tech skills.
• Ability to assess model design and communicate findings to stakeholders.
• ASA or FSA designation preferred but not required.

Responsabilités

• Perform independent validations of actuarial and capital models.
• Review inputs, assumptions, methods, implementation, and documentation.
• Design and execute validation testing, back-testing and benchmarking.
• Support model governance and change management processes.
• Maintain model and findings inventories with remediation tracking.
• Communicate conclusions and recommendations to management and owners.

Connaissances

Actuarial modeling

Model validation

Statistical analysis

Python

R

SQL

VBA

Communication

ASA/FSA designation

Regulatory knowledge

Formation

Bachelor's degree in Actuarial Science

ASA/FSA designation preferred

Outils

RAFM

VBA

Description du poste

At Allianz Life, we are driven by our mission – we secure your future – and by our common goal of caring for tomorrow. We care for our employees by promoting an inclusive culture where everyone has the opportunity to grow and be rewarded for their success. We care for our customers by creating new products that help them protect their families and pursue their retirement goals. We care for our community by giving time, resources, and donations. And we care for the future by supporting sustainability, protecting the local environment, and promoting equality in our communities.

What You Do

Within the Model Risk Management Team (MRM) of the Corporate Risk Management Department (CRM), the Model Risk Analyst Manager/Associate Actuary is accountable for conducting independent validations of actuarial and capital models used for financial and regulatory reporting.

Operating under minimal oversight, the Model Risk Analyst Manager/Associate Actuary executes model validation activities in accordance with the approved validation plan, partnering with impacted departments (including Actuarial, Finance, Investments and other areas) and following Allianz Life and Allianz Group guidelines, as appropriate.

The Model Risk Analyst Manager/Associate Actuary ensures adherence to the model governance framework, monitors progress against validation plans, and addresses changes to promote sound model risk management practices.

The responsibilities of the role encompass three core areas: Model Validation, Model Governance, and Stakeholder Management.

• Model Validation
• Perform independent validations of actuarial and capital models, including new model validations, periodic revalidations, model change reviews, and ad hoc validation assignments:
  • Review model inputs, assumptions, and expert judgments.
  • Review model methodology and assess its mathematical, statistical, financial, and actuarial soundness.
  • Review model implementation and code to ensure alignment with the approved methodology.
  • Review model documentation to ensure completeness, transparency, and usability.
  • Review model outputs, controls, and reporting processes.
  • Design and perform validation testing, including back-testing, sensitivity testing, benchmarking, and code review procedures.
• Develop a thorough understanding of model design, methodology, inputs, outputs, assumptions, limitations, and intended use.
• Identify potential issues arising from validation activities, document findings, and align with model owners and team leadership on appropriate remediation plans and timelines based on risk and materiality.
• Track remediation activities and collaborate with model owners to ensure identified findings are addressed in a timely manner.
• Model Governance
• Support the continuous improvement of model governance and model change management processes across various models and provide best-practice guidance to stakeholders across multiple departments.
• Maintain and enhance templates, standards, and documentation used by model validators.
• Support the maintenance of the model inventory, including validation status, materiality, criticality, and other relevant model attributes, ensuring that all governance activities are appropriately documented.
• Support the maintenance of the model findings inventory and monitor remediation progress.
• Collaborate with model owners to understand proposed model changes and assess their impact on model validation requirements, model risk tiering, and validation plans.
• Stakeholder Interaction
• Build and maintain strong working relationships with stakeholders across the organization.
• Remain informed of model developments, assumption updates, methodology changes, and new tools through regular interaction with model owners and other relevant stakeholders.
• Communicate validation conclusions, findings, and recommendations effectively to model owners, management, and other governance stakeholders.
• Provide effective challenge and independent oversight while maintaining constructive relationships with model owners and business partners.

What You Bring

• Bachelor's degree in Actuarial Science, Mathematics, Statistics, Data Science, Financial Engineering, Physics or a related quantitative discipline.
• 10+ years of experience in actuarial modeling, actuarial model validation, or a related actuarial function within the life insurance industry.
• Hands‑on experience with statutory reporting, statutory valuation and reserving methodologies, including models supporting CARVM, VM‑20, VM‑21, and other U.S. statutory reserve requirements.
• Experience with Risk‑Based Capital (RBC) modeling, reporting, and related regulatory frameworks.
• Strong understanding of actuarial model governance frameworks, model risk management principles, and model validation practices.
• Experience with actuarial modeling platforms and programming languages commonly used in the industry (e.g., RAFM, Python, R, SQL, VBA).
• Demonstrated ability to independently assess model design, methodology, assumptions, implementation, data quality, and model performance.
• Ability to effectively challenge model owners and resolve technical, actuarial, and methodological disagreements through fact‑based analysis and professional judgment, while building consensus on appropriate solutions.
• Strong analytical, problem‑solving, and technical communication skills, with the ability to effectively challenge model owners and communicate findings to senior management.
• Associate of the Society of Actuaries (ASA) or Fellow of the Society of Actuaries (FSA) designation preferred, but not required.

Job posting range $100,000 - $200,000

Note the job posting range is exclusive of company benefits or other compensation. This role is also eligible for an annual incentive program. If you are hired, your final base salary will be determined based on factors such as geographic location, experience, skills, competencies, and/or education. In addition to those factors, we will also consider internal equity of our current employees. Please keep in mind that the range provided is the full base salary range for the role. Hiring at or near the maximum of the range would not be typical to allow for future and continued salary growth.

What We Offer

At Allianz Life, we’re proud to provide a benefits package that supports the True Balance of our employees and their families. We offer: a choice of comprehensive medical, dental and vision plan options, flexible spending and health savings accounts, tuition reimbursement, student loan retirement program, generous annual paid leave, an outstanding 401(k) company match, and life insurance. Plus, our employees enjoy an award‑winning campus with an array of discounted amenities, including an onsite health center, child development center, fitness facility, convenience store and two cafeterias. Our employees and leaders take an active role in shaping our culture through our Employee Resource Groups, whose activities and advocacy contribute to an environment that is fair, caring, and inclusive. Our generous benefits, campus amenities and inclusive, engaged culture are among the many reasons we’re routinely recognized as a top workplace employer. For additional information regarding What It’s Like To Work Here | Allianz Life.

108063 | Risk Management | Professional | Non-Executive | Allianz US Life | Full-Time | Permanent

Allianz Group is one of the most trusted insurance and asset management companies in the world. Caring for our employees, their ambitions, dreams and challenges, is what makes us a unique employer. Together we can build an environment where everyone feels empowered and has the confidence to explore, to grow and to shape a better future for our customers and the world around us.

At Allianz, we stand for unity: we believe that a united world is a more prosperous world, and we are dedicated to consistently advocating for equal opportunities for all. And the foundation for this is our inclusive workplace, where people and performance both matter, and nurtures a culture grounded in integrity, fairness, inclusion and trust.

We therefore welcome applications regardless of ethnicity or cultural background, age, gender, nationality, religion, social class, disability or sexual orientation, or any other characteristics protected under applicable local laws and regulations.

Join us Let’s care for tomorrow.