Job Description

Job Description

Role Overview

We are seeking an experienced Life Actuarial Modeling professional with deep expertise in MG-ALFA (mandatory) to support Asset Liability Management (ALM), cash flow modeling, valuation, projections, and regulatory reporting for Life and Annuity products. The candidate will play a key role in developing, enhancing, validating, and maintaining actuarial models used for liability valuation, business planning, capital assessment, and asset adequacy testing.

Key Responsibilities

MG-ALFA Model Development & Maintenance

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• Develop, maintain, and enhance actuarial models in MG-ALFA.
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• Configure and update model inputs, assumptions, product specifications, and calculation logic.
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• Perform model conversions, model modernization, and platform enhancements.
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• Support implementation of new products and regulatory requirements within actuarial models.
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Asset & Liability Cash Flow Modeling

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• Perform deterministic and stochastic cash flow projections for Life and Annuity products.
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• Model asset and liability cash flows under various economic and business scenarios.
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• Support Asset Liability Management (ALM) studies and business planning exercises.
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• Evaluate impact of interest rate movements, policyholder behaviour, and investment strategies on profitability and capital.
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Regulatory & Financial Reporting Support

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• Support valuation and projection activities for STAT, GAAP, LDTI, and economic balance sheet applications.
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• Assist in Asset Adequacy Testing (AAT), Cash Flow Testing (CFT), and reserve adequacy assessments.
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• Analyze results and explain movements in reserves, earnings, and capital metrics.
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Model Validation & Governance

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• Perform model testing, validation, reconciliation, and benchmarking.
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• Investigate and resolve model setup, assumption, and projection issues.
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• Participate in model governance, documentation, peer review, and audit support.
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• Ensure regulatory and actuarial standards compliance.
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Stakeholder Collaboration

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• Work closely with valuation, modeling, finance, investments, and risk management teams.
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• Present modeling results, business insights, and recommendations to senior stakeholders.
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• Support offshore-onshore delivery and client interactions.
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Candidate Profile

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• 8-10 years of actuarial modeling experience within Life Insurance and Annuities
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• Strong expertise in MG-ALFA (mandatory)
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• Hands-on experience with:
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• Asset Liability Modeling (ALM)
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• Cash Flow Testing (CFT)
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• Asset Adequacy Testing (AAT)
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• Valuation and Projection Modeling
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• Scenario and Sensitivity Testing
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• Model Validation and Governance
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Experience working with:

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• Bermuda Regulation (Preferred)
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• STAT
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• GAAP / LDTI
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Strong understanding of:

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• Mortality, lapse, expense, and investment assumptions
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• Asset reinvestment strategies
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• Interest rate and economic scenario modeling
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• Life insurance and annuity products
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