Welcome to New York Life, where we believe in protecting the futures of our valued clients. As our company continues to grow and evolve, we are seeking a talented individual to join our team as a Model Validation and Governance specialist. In this role, you will play a crucial role in ensuring the accuracy and reliability of our financial and actuarial models, and ensuring compliance with regulatory and internal guidelines. We are looking for someone with a strong understanding of financial and actuarial concepts, exceptional attention to detail, and a passion for maintaining the highest standards of model validation and governance. If you are a driven and analytical individual who is eager to make a meaningful impact in the world of insurance, we encourage you to apply for this exciting opportunity.
- Conduct thorough and regular validation of financial and actuarial models to ensure accuracy and reliability.
- Develop and maintain a comprehensive model validation and governance framework.
- Monitor and analyze model output to identify potential issues and areas for improvement.
- Collaborate with various departments to gather and analyze data for model validation and governance.
- Stay up-to-date on regulatory and internal guidelines related to model validation and governance and ensure compliance.
- Communicate any significant findings or concerns to management and provide recommendations for improvement.
- Proactively identify opportunities for process optimization and efficiency in model validation and governance.
- Participate in cross-functional projects to enhance and improve model validation and governance processes.
- Train and mentor junior team members on model validation and governance procedures and standards.
- Maintain accurate and detailed documentation of all model validation and governance activities.
- Identify and implement best practices and industry standards for model validation and governance.
- Continuously strive to maintain the highest standards of model validation and governance to protect the interests of clients and the company.
A Thorough Understanding Of Model Development And Validation Principles, Including Experience With Statistical Modeling, Stress Testing, And Data Analysis.
Strong Knowledge Of Financial Products And Risk Management Methodologies, Particularly In The Insurance And Investment Industries.
Experience With Regulatory Requirements And Industry Best Practices For Model Validation, Including Familiarity With Occ Sr 11-7, Sr 15-18, And Sr 11-12.
Excellent Communication And Interpersonal Skills, With The Ability To Effectively Collaborate With Cross-Functional Teams And Present Complex Information To Senior Management.
A Graduate Degree In A Quantitative Field Such As Mathematics, Statistics, Economics, Or Finance, With At Least 5 Years Of Experience In Model Validation Or Related Roles. Professional Certifications Such As Cfa, Frm, Or Prm Are Also Preferred.
Documentation
Process Improvement
Project Management
Data Analysis
Communication
Quality Control
Audit
Compliance
Statistical modeling
Risk assessment
Financial
Model Testing
Validation Techniques
Communication
Leadership
Time management
Interpersonal Skills
creativity
flexibility
Critical thinking
Teamwork
Adaptability
Problem-Solving
According to JobzMall, the average salary range for a Model Validation and Governance is $80,000 to $120,000 per year. However, salaries can vary depending on the industry, location, and level of experience. Senior roles in this field can earn upwards of $150,000 per year.
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New York Life Insurance Company is the third-largest life insurance company in the United States, the largest mutual life insurance company in the United States.
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