Associate Actuary - Risk Management, Parsippany

Associate Actuary - Risk Management

At AIG, we are reimagining the way we help customers to manage risk. Join us as an Associate Actuary - Risk Management to take on key responsibilities within a world-class actuarial function. 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 (risk segmentation, trends, loss development factors etc.) and the conceptual soundness of selected model specifications.Keep up with industry trends and research on the latest development on 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 work closely with modelers during 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 specification to assess. Help guide 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 a 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 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 the 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. In addition, we're proud to offer a range of competitive benefits, a summary of which can be viewed here: 2025 Benefits Summary