MG-ALFA Modeller

Key Responsibilities

MG-ALFA Model Development & Maintenance

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

Asset & Liability Cash Flow Modeling

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

Regulatory & Financial Reporting Support

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

Model Validation & Governance

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

Stakeholder Collaboration

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

Candidate Profile

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

Experience working with: 

• Bermuda Regulation (Preferred)
• STAT
• GAAP / LDTI

Strong understanding of: 

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