Senior Actuarial Associate – Model Validation

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Voya Financial

WebsiteLinkedInAll Job Openings

5001 - 10000 employees

Founded 1998

💸 Finance

Finance • Insurance • Retirement

Voya Financial is a leading financial services company that provides a wide range of retirement, investment, and insurance products to help individuals, families, and institutions plan, invest, and protect their future. With a focus on retirement savings and workplace benefits, Voya connects benefits and savings to simplify financial experiences and enhance financial security. The company is committed to making a positive difference by serving others through its unique culture, and has been recognized for its values and customer-centric approach. Voya also engages in initiatives like the Voya Behavioral Finance Institute for Innovation to further its mission of transforming financial care in the workplace.

📋 Description

• Lead and execute independent model validations and reviews, primarily focused on actuarial models with secondary responsibility for investment and AI/ML models. • Independently assess model assumptions, methodologies, limitations, and outputs to challenge model accuracy, reliability, and appropriateness. • Evaluate model controls and supporting documentation to ensure compliance with internal standards and regulatory expectations. • Develop and execute testing plans to confirm models are functioning as intended and producing accurate results. • Provide guidance to model owners and development teams on modeling best practices, controls, and model risk mitigation strategies. • Track, monitor, and oversee remediation of issues and findings identified through model validation activities. • Prepare comprehensive validation reports and present findings, recommendations, and conclusions to governance committees and key stakeholders. • Support the ongoing enhancement of Voya’s Model Risk Management Framework, including policies, standards, and procedures. • Partner with model owners, business units, Internal Audit, Compliance, and IT teams to facilitate timely and effective model validations. • Participate in the Actuarial Student Rotation Program. • Build strong working relationships and collaborate effectively across cross-functional teams. • Perform additional duties and responsibilities as assigned.

🎯 Requirements

• Bachelor’s degree in Mathematics, Statistics, Actuarial Science, Finance, or a related quantitative field. • 3-4+ years of actuarial modeling or quantitative analytics experience within the insurance or financial services industry. • Completion of 5-6 actuarial exams and attainment of ASA designation. • Experience building, running, and validating actuarial models. • Strong understanding of model lifecycle concepts, model governance best practices, and regulatory expectations, including NAIC Model Risk Guidance and SR 11-7. • Strong analytical, problem-solving, and critical-thinking skills with exceptional attention to detail. • Strong written and verbal communication skills with the ability to present complex findings to various audiences. • Advanced proficiency in Microsoft Excel. • Demonstrated ability to independently manage initiatives, prioritize workload, and deliver results. • Understanding of insurance products and experience in areas such as pricing, valuation, modeling, analytics, or risk management. • Strong stakeholder management and collaboration skills.

🏖️ Benefits

• Health, dental, vision and life insurance plans • 401(k) Savings plan – with generous company matching contributions (up to 6%) • Voya Retirement Plan – employer paid cash balance retirement plan (4%) • Tuition reimbursement up to $5,250/year • Paid time off – including 20 days paid time off, nine paid company holidays and a flexible Diversity Celebration Day. • Paid volunteer time — 40 hours per calendar year