Associate Actuary (Risk Management)

Associate Actuary - Risk Management

At AIG, we are reimagining the way we help customers manage risk. Join us as an Associate Actuary - Risk Management to take on key responsibilities within a world-class actuarial function.

Make your mark in Actuarial

Our Actuaries are on the front lines, quantifying risk, pricing insurance, and reserving losses for AIG’s major insurance operating companies globally. We collaborate with Finance, Claims, Operations, Marketing, and Risk Management, among other functions. As an AIG actuary, you will be challenged and encouraged to reach your greatest potential to help improve how we predict, manage, and mitigate risk.

How you will create an impact

This position will assist the Actuarial Independent Review team with the following responsibilities:

• Assist in the independent review of selected AIG policyholder liabilities. This includes:
• Review claims and premium data quality for property and casualty insurance lines. Build benchmark reserving models and design statistical tests to review and challenge reserving model assumptions and the conceptual soundness of selected model specifications.
• Keep up with industry trends and research on the latest developments in reserving methodologies and acquire various external data to complement the Reserve Analysis.
• Support the documentation of this view to local Boards/Committees, the AIG Audit Committee, the AIG Risk Committee, and the Reserve Committee.
• Assist in the independent review for selected high priority Pricing and Underwriting Models. This includes:
• Work closely with pricing actuaries to understand model development inventory and collaborate with modelers during the review process.
• Identify high-risk pricing and underwriting models which require ERM review under the AIG Model Risk Management Policy.
• Acquire documentation, controls, data, validation, and technical specifications to assess. Help guide the first line to best practices if these do not exist.
• Opining on methodology, trends, and parameters for selected models.
• Prepare reports on results of independent review to support robust governance function.
• Work with various functions including actuarial, claims, underwriting, and the economics teams to build models or evaluate scenarios to quantify emerging risks and potential market shocks to enhance the company’s overall risk framework, providing insights that drive business success.
• Support technical review of other non-actuarial models when requested.

AIG is ideally looking for a candidate with:

• University undergraduate degree and working towards an Associate or Fellow of Casualty Actuary Society or equivalent.
• A minimum of 5 years specializing in actuarial and/or risk management ideally with experience from a property and casualty (re)insurer or a consulting background if the requisite management and industry experience are evident.
• Strong analytical skills, knowledge of drivers of risk, and knowledge of the insurance market.
• Ability to build proactive working relationships with stakeholders across various departments and effect change through the use of influencing skills.
• Ability to communicate complex matters in a simple and clear manner.

Opportunity can be located either in NYC, NY, Jersey City, NJ, Parsippany, NJ, or Boston, MA

For positions based in New York, the base salary range is $115,000-$145,000. For positions based in New Jersey, the base range is $110,000-$142,000, and for positions based in Boston, the base range is $115,000-$145,000. In addition, the position is eligible for a bonus in accordance with the terms of the applicable incentive plan. We’re proud to offer a range of competitive benefits.

At AIG, we value in-person collaboration as a vital part of our culture, which is why we ask our team members to be primarily in the office. This approach helps us work together effectively and create a supportive, connected environment for our team and clients alike.

Enjoy benefits that take care of what matters

At AIG, our people are our greatest asset. We know how important it is to protect and invest in what’s most important to you. That is why we created our Total Rewards Program, a comprehensive benefits package that extends beyond time spent at work to offer benefits focused on your health, wellbeing, and financial security—as well as your professional development.

Reimagining insurance to make a bigger difference to the world

American International Group, Inc. (AIG) is a global leader in commercial and personal insurance solutions; we are one of the world’s most far-reaching property casualty networks. It is an exciting time to join us — across our operations, we are thinking in new and innovative ways to deliver ever-better solutions to our customers. At AIG, you can go further to support individuals, businesses, and communities, helping them to manage risk, respond to times of uncertainty, and discover new potential. We invest in our largest asset, our people, through continuous learning and development, in a culture that celebrates everyone for who they are and what they want to become.

Welcome to a culture of inclusion

We’re committed to creating a culture that truly respects and celebrates each other’s talents, backgrounds, cultures, opinions, and goals. We foster a culture of inclusion and belonging through learning and cultural awareness activities.

AIG provides equal opportunity to all qualified individuals regardless of race, color, religion, age, gender, gender expression, national origin, veteran status, disability, or any other legally protected categories.

AIG is committed to working with and providing reasonable accommodations to job applicants and employees with disabilities.

Functional Area:

AC - Actuarial AIG PC Global Services, Inc.