Note: The job is a remote job and is open to candidates in USA. Aflac is a Fortune 500 company and an industry leader in voluntary insurance products. They are seeking a Model Risk Consultant to perform independent validations of various models, ensuring compliance with best practices and internal governance. The role requires strong programming skills and the ability to communicate validation processes effectively.
Responsibilities
- Performs independent validations of actuarial, financial, investment, and/or predictive models
- Reviews model methodology, assumptions, and documentation to ensure alignment with ASOPs, best practices, and internal model governance
- Recreates model outputs using challenger models, simplified calculations, or benchmarking
- Assesses data inputs for appropriateness, completeness, and transformation accuracy
- Evaluates model implementation controls and change management evidence
- Validates coding logic and implementation for business management software in programing languages such as SQL, R, Python, or VBA
- Performs sensitivity testing, stress testing, and back testing to evaluate model robustness
- Identifies model limitations, risks, and potential failure points
- Prepares clear model validation reports that detail findings, issues, severity levels, and remediation recommendations
- Works with model owners and business stakeholders to ask model-related questions and perform controls reviews
- Presents results to Model Risk Management subcommittees and working groups
- Tracks issue remediation and performs follow-up validations
- Ensures adherence to internal MRM policies and regulatory requirements (e.g. SOX, BMA, NAIC)
- Develops and enhances a streamlined process for model validations
Skills
- Strong practical knowledge of insurance, finance, investments and/or mathematical or statistical Modeling
- Strong programming skills and modeling experience to validate various model methodologies, calculations and processes
- Ability to design, document, and communicate the validation process to risk committees and Management
- Technical proficiency in SQL and cloud-based platforms (Snowflake preferred)
- Technical proficiency in programming languages (Python and R preferred)
- Ability to adapt to newer platforms that may be adopted to boost usage of ML/AI for process automation/validation
- Advanced knowledge of Microsoft Office, particularly Excel with strong VBA (spread-sheet automation) skills
- Excellent business partnering and communication skills
- Ability to dive into technical and execution level details, connect the dots while thinking Strategically
- Enthusiastic about developing and improving tools and processes, with a focus on efficiency and user friendliness
- A proactive mindset with proven ability to manage projects independently and effectively
- Ability to teach/train/onboard junior analysts to mathematical concepts, programming languages and ML/AI adaption
- Excellent oral, written, and interpersonal communications skills to effectively interact with peers, management, and internal customers, and external vendor representatives
- Bachelor's Degree in Mathematics, Statistics, Computer Science, Actuarial Science, Finance, Data Science, Risk Management, or other quantitatively intensive field
- 6 years of professional job-related work experience
- Or an equivalent combination of education and experience
- Fellow of the Society of Actuaries (FSA), Chartered Financial Analyst (CFA), and/or Financial Risk Manager (FRM)
- Insurance experience preferred
Benefits
- Medical, dental, and vision coverage
- Prescription drug coverage
- Health care flexible spending
- Dependent care flexible spending
- Aflac supplemental policies (Accident, Cancer, Critical Illness and Hospital Indemnity offered at no costs to employee)
- 401(k) plans
- Annual bonuses
- An opportunity to purchase company stock
- 11 paid holidays
- Up to 20 days PTO to be used for any reason
- If eligible, state-mandated sick leave (Washington employees accrue 1-hour sick leave for every 40 hours worked)
- Other leaves of absence, if eligible, when needed to support your physical, financial, and emotional well-being
- Aflac complies with all applicable leave laws, including, but not limited to, sick and safe leave, and adoption and parental leave, in all states and localities
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