Job Details
DescriptionAt Equitable, our power is in our people. We're individuals from different cultures and backgrounds. Those differences make us stronger as a team and a force for good in our communities. Here, you'll work with dynamic individuals, build your skills, and unleash new ways of working and thinking. Are you ready to join an organization that will help unlock your potential?Equitable went through an IPO and became a publicly listed company in 2018. As part of the IPO process, senior management identified substantial additional investments to make within the Actuarial and Risk organizations. Model Risk Management is one such growth area identified within the Risk team, with a goal to help shape the company model development, maintenance processes and architecture. This position offers a unique opportunity to enhance a recently grown function and institute best practices at a company experiencing rapid and positive change.Opportunities include:Exposure to Chief Risk Officer (CRO) and other leaders within Risk Management, Actuarial, and Finance.Positively impact decision making by securing the models used for financial reporting, risk measurement, pricing, and strategic business decisions.Deepen understanding of the products, accounting regimes, modeling assumptions/calculation engines, and processes across different areas (Life Insurance/Annuity/Health; Inforce/New Business).Enhance modeling and risk management skills.Be part of a growing industry-wide actuarial and risk practice area.Responsibilities include, but are not limited to:Perform risk review of model changes and supporting documentation.Perform risk review of new models & implementations and supporting documentation. This includes a review of the model design document and the model owner s testing plan, if applicable, early in the development cycle.Perform risk review of new model findings/simplifications and supporting documentation. Help confirm that eliminations of model findings/simplifications are appropriate.Perform risk review of new topsides (financial reporting adjustments outside of the production models) and model risk assessments.Support an effective Model Steering Committee and the related processes (Model Governance, Findings/Simplification, Topsides, New Model & Implementation, Model Inventory & Risk Assessment), including monitoring of key inventories.Support developing, maintaining, and enforcing model risk policies and standards.Ensure risk reviews are properly documented and evidenced, including detailed support as applicable.Ensure compliance with Sarbanes-Oxley (SOX) controls and evidence retention.Support or perform model validations on new models & implementations, in coordination with the Mode Validation team.Help expand model governance into new areas (e.g., support review of pricing models and their simplifications, review of non-model tools).Support or perform model validations on existing models, to assist the Model Validation team.Support strategic model development initiatives such as model optimization, end-state model vision, and model improvement activities.Perform peer review activities.Foster constructive relationships with the modeling teamsEffectively communicate within the project team and to external business partners.Provide regular status updates and escalate risks to team lead.The base salary range for this position is $125,000 to $168,000. Actual base salaries vary based on skills, experience, and geographical location. In addition to base pay, Equitable provides compensation to reward performance with base salary increases, spot bonuses, and short-term incentive compensation opportunities. Eligibility for these programs depends on level and functional area of responsibility.Equitable Pay and Benefits: Equitable Total Rewards ProgramQualificationsMinimum Qualifications Bachelor s degree in quantitative fields (e.g., Mathematics, Actuarial Science).ASA Designation with 5+ years of actuarial experience to include modeling, valuations, pricing and/or risk management OR 4+ SOA exams with 7+ years of actuarial experience to include modeling, valuations, pricing and/or risk management.Experience reviewing models or supporting documentation. Accountable with high work ethic and strong organizational skills.Software skills including MS Office. Preferred QualificationsFSA designation.Experience performing Model Validations or Model Risk Governance.Experience with liability modeling and actuarial projection systems (Moody s Analytics AXIS is preferred).Experience with US GAAP and/or Statutory financial reporting.Experience with Variable Annuities with enhanced Guarantees (GMxB s) and/or Universal/Variable/Indexed Life Insurance.Risk Management (in particular model governance) or audit experience.SkillsCollaborating: Knowledge of collaborative techniques; ability to work with a variety of individuals and groups in a constructive and collaborative manner.Decision Making and Critical Thinking: Knowledge of the decision-making process and associated tools and techniques; ability to accurately analyze situations and reach productive decisions based on informed judgment.Effective Communications: Understanding of effective communication concepts, tools and techniques; ability to effectively transmit, receive, and accurately interpret ideas, information, and needs through the application of appropriate communication behaviors.Quantitative Techniques: Knowledge of quantitative techniques; ability to use quantitative tools and techniques to measure and analyze risks.Results Orientation: Knowledge of the importance of meeting or exceeding established targets; ability to drive critical activities to completion.Diversity, Equity and Inclusion: Demonstrates a commitment to Diversity, Equity and Inclusion by treating everyone with respect and dignity, ensuring all voices are heard and advocating for change.ABOUT EQUITABLE At Equitable, we re a team of over ten thousand strong; committed to helping our clients secure their financial well-being so that they can pursue long and fulfilling lives.We turn challenges into opportunities by thinking, working, and leading differently where everyone is a leader. We encourage every employee to leverage their unique talents to become a force for good at Equitable and in their local communities.We are continuously investing in our people by offering growth, internal mobility, comprehensive compensation and benefits to support overall well-being, flexibility, and a culture of collaboration and teamwork.We are looking for talented, dedicated, purposeful people who want to make an impact. Join Equitable and pursue a career with purpose. **********Equitable is committed to providing equal employment opportunities to our employees, applicants and candidates based on individual qualifications, without regard to race, color, religion, gender, gender identity and expression, age, national origin, mental or physical disabilities, sexual orientation, veteran status, genetic information or any other class protected by federal, state and local laws.NOTE: Equitable participates in the E-Verify program.If reasonable accommodation is needed to participate in the job application or interview process or to perform the essential job functions of this position, please contact Human Resources at (212) ###-#### or email us at ...@equitable.com.#LI-HybridOrganization: EquitableSchedule: Full-time