Senior Actuary, ALM

Acumen Group; United States; On-site; USD 180,000 - 240,000; Full time

Job summary

Acumen Group is seeking an Actuary / Senior Actuary – ALM to own the enterprise ALM model, projecting assets, liabilities, and scenarios. You will work with the Head of ALM Strategy and partners across Investments, Risk, and Finance to deliver robust ALM insights and governance.

The role requires 10+ years of actuarial experience in ALM or asset modeling, FSA/ASA designation, and hands-on model development (MG-ALFA preferred). Strong communication and cross-functional skills are essential.

Qualifications

• 10+ years of progressive actuarial experience in ALM and asset modeling.
• FSA or ASA designation required.
• Bachelor's degree in Actuarial Science, Mathematics, or Finance.
• Hands-on experience building actuarial projection models (MG-ALFA preferred).
• Strong communication and cross-functional teamwork.

Responsibilities

• Own the design, development, and enhancement of the enterprise ALM model.
• Model the general account investment portfolio and economic scenario sets.
• Produce, analyze, and explain ALM results to senior leadership.
• Translate strategic questions into modeling specifications.
• Support asset adequacy testing, ORSA, capital, and statutory reporting.
• Collaborate with Investments and ERM on ALM metrics and risk controls.
• Support hedging program modeling for indexed products.
• Establish and improve ALM modeling governance and documentation.

Skills

ALM modeling

Cross-functional collaboration

Communication skills

Actuarial proficiency

Education

FSA or ASA

Bachelor's degree in Actuarial Science, Mathematics, Finance

Tools

MG-ALFA

Excel

Python/R

Job description

The Actuary / Senior Actuary – ALM will serve as the modeling owner of our client's asset-liability management framework. In this role, you will build, maintain, and advance the asset, liability, and scenario modeling capabilities that support ALM analysis across all lines of business, quantifying how the interaction of assets, liabilities, product features, and investment strategy drives the balance sheet. You will work in close partnership with the Head of ALM Strategy, providing the modeling and analytical rigor behind enterprise ALM insight, along with Enterprise Risk Management, Investments, Capital Management, and the broader modeling team to ensure ALM results are accurate, well-controlled, and clearly understood. You will be expected to deliver robust and innovative modeling solutions across ALM, asset adequacy testing, interest rate risk analysis, and other special project initiatives.

Responsibilities

• Own the design, development, and ongoing enhancement of the enterprise ALM model, including asset projection, reinvestment and disinvestment strategy, crediting strategy, and dynamic policyholder behavior.
• Model the general account investment portfolio including public and private fixed income, structured assets, alternatives, and derivatives, and maintain the economic scenario sets used across deterministic and stochastic ALM analysis.
• Produce, analyze, and explain ALM results, including duration, convexity, key rate exposures, cash flow matching, and earnings and surplus sensitivity under a range of interest rate and equity scenarios.
• Partner with the Head of ALM Strategy to translate strategic questions into modeling specifications, and turn model output into clear answers for senior leadership.
• Support the asset adequacy testing, ORSA, capital, and statutory reporting workstreams that rely on ALM modeling.
• Partner with Investments on reinvestment and disinvestment assumptions, and strategic asset allocation studies, bringing the modeled liability perspective to those discussions.
• Partner with Enterprise Risk Management on ALM risk metrics, limits, and stress and scenario testing, and with Capital Management on capital and liquidity projections.
• Support modeling of the hedging program for indexed products, including option budget, and index crediting strategies.
• Establish, review, and continuously improve best practices for ALM model development, production, validation, and documentation, consistent with model governance standards and applicable Actuarial Standards of Practice.

Requirements

• 10+ years of progressive actuarial experience for the Senior Actuary level, or 8+ years for the Actuary level, including at least 5 years in ALM, asset modeling, or asset-intensive actuarial work.
• Fellow or Associate of the Society of Actuaries (FSA or ASA)
• Bachelor’s degree in Actuarial Science, Mathematics, Finance, or related quantitative discipline.
• Hands-on experience building and maintaining actuarial projection models on an open platform (MG-ALFA preferred).
• Working knowledge of asset modeling, including fixed income cash flows, structured assets, prepayment and default assumptions, and reinvestment and disinvestment strategy.
• Understanding of interest rate risk measurement and management concepts such as duration, convexity, key rate durations, cash flow matching, and immunization.
• Experience with economic scenario generators and the design of stochastic scenario sets (a plus)
• Understanding of the modeling frameworks that consume ALM output, including asset adequacy testing / cash flow testing, ORSA, RBC (including C-3), VM-20, and economic capital preferred.
• Working knowledge of Statutory regulations for Life and Annuity products with a preference for indexed products and reinsurance concepts.
• Exceptional communication and presentation skills with the ability to translate technical modeling into strategic business insight for senior management and non-actuarial partners.
• Demonstrated ability to build strong cross-functional relationships, particularly with Investments, Risk, and Finance partners.

Preferred Qualifications

• Experience modeling derivatives and hedging programs supporting indexed life and annuity products, including options, swaps, and swaptions.
• Experience modeling private credit, structured assets, or other less liquid asset classes.
• Experience presenting to an ALCO, investment committee, or similar governance forum.
• CFA designation or comparable investment credential.