Associate Director, Model Validation

Actuarial Indianapolis, Indiana


Description

Position at Delaware Life

Group1001 is a consumer-centric, technology-driven family of insurance companies on a mission to deliver outstanding value and operational performance by combining financial strength and stability with deep insurance expertise and a can-do culture. Group1001’s culture emphasizes the importance of collaboration, communication, core business focus, risk management, and striving for outcomes. This goal extends to how we hire and onboard our most valuable assets – our employees.

Company Overview:

Delaware Life Insurance Company is looking for an Associate Director, Model Validation to join our Risk team. This position will support risk management efforts by conducting model validations related to annuities and life insurance products. This person will support the company’s Model Risk Committee, providing expertise in matters of actuarial, capital, and financial modeling. This position will also engage with business areas to promote risk-informed decision making and may support other risk management areas of focus.

Group 1001, and its affiliated companies, is strongly committed to providing a supportive work environment where employee differences are valued. Diversity is an essential ingredient in making Group 1001 a welcoming place to work and is fundamental in building a high-performance team. Diversity embodies all the differences that make us unique individuals.  All employees share the responsibility for maintaining a workplace culture of dignity, respect, understanding and appreciation of individual and group differences.

Main Accountabilities:

  • Conduct model validations for annuities and life insurance products, supporting comprehensive oversight of the company’s model risks from data to delivery.
  • Prepare and deliver reports to the Model Risk Committee on model validation outcomes, including risk assessment, appropriateness of fit, and remediation efforts.
  • Ensure all enterprise models are captured on the model validation inventory and incorporated in the model review process.
  • Maintain documentation and timetables of model review and associated findings.
  • Coordinate remediation efforts with modeling units, providing structured guidance to support successful outcomes.
  • Evaluate, challenge, and support the model development life cycle.
  • Support Model Risk Committee initiatives related to model governance including assumption governance.
  • Support risk assessment and risk reporting across the company’s ERM framework including risk metrics and key risk indicators.
  • Prepare analyses related to policyholder behavior, market risks, and emerging risks.

Qualifications:

  • Fellow of the Society of Actuaries with at least six years of experience.
  • Chartered Enterprise Risk Analyst preferred.
  • Bachelor’s degree in actuarial science, risk management, or related field.
  • Experience in model development, model production, or enterprise risk management in an insurance company.
  • Extensive knowledge of annuity and life insurance products, including key projection components and reserving.
  • Experience with hedging models, credit models, and economic scenario generators also beneficial.
  • Strong financial modeling and analytical skill.
  • Familiarity with regulatory aspects of annuities and life products.
  • Highly organized with strong communication and project management skills.