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AVP, Model Risk Validation - Corporate Risk. Job in Bridgewater, New Jersey, United States in MetLife, Inc.. Nelest.com
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AVP, Model Risk Validation - Corporate Risk

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Job ID:

22944

Location:

Bridgewater, NJ 

Job function:

Information Systems Management, Strategic Planning
col-narrow-right   

Posted:

03.10.2016

Employment Type:

Full time

Industry:

Financial
col-wide   

Title:

AVP, Model Risk Validation - Corporate Risk

Job Description:

"At MetLife, we're leading the global transformation of an industry we've long defined. United in purpose, diverse in perspective, we're dedicated to making a difference in the lives of our customers."

MetLife, through its subsidiaries and affiliates, is a global provider of life insurance, annuities, employee benefits and asset management with operations in nearly 50 countries and leading market positions in the United States, Japan, Latin America, Asia, Europe and the Middle East. With a proven track record of financial strength and delivering on promises since 1868, the company prides itself on helping people plan for their future by protecting what matters most - their families and their achievements.

With 2014 total operating income of ~$70 billion, MetLife is ranked #42 on the Fortune 500 list and #69 on the Forbes Global 2000 list of the world's largest public companies. Globally, the company has ~65,000 employees serving approximately 100 million customers, individuals, and businesses, including 90 of the FORTUNE 100. MetLife is also one of the largest institutional investors in the US with more than $450 billion in managed assets. FORTUNE Magazine's World's Most Admired Company survey recently named MetLife #1 in the Life and Health Insurance industry.

MetLife is an ambitious company with the scale, scope and talent to lead the transformation of the insurance and employee benefits industry, driving world class standards of performance around the globe. Launched in 2012 by MetLife Chairman and CEO, Steven Kandarian, the company's enterprise strategy is based on four cornerstones: Refocus the U.S. Business, Grow Emerging Markets, Build a Global Employee Benefits Business and Drive Towards Customer Centricity and a Global Brand. Concrete actions are well underway in each of these strategic focus areas, including moving to a horizontally-integrated global operating model to help drive greater leverage of technology and operations and the more consistent application of functional priorities across global markets.

As One MetLife, the company has defined common values shared across the enterprise: Put Customers First, Be the Best, Make Things Easier, and Succeed Together. These values guide how employees operate every day and are reflected in the company's commitment to creating a world-class organizationwhich places a high value on motivational leadership, engaged talent, and customer focus. For more information on working at MetLife, please visit MetLife Careers

MetLife Corporate Risk Management

Corporate Risk Management (CRM) is responsible for providing an enterprise-wide, independent and comprehensive framework to appropriately identify aggregate, measure, manage and report risks across the organization that impact the Company's capital, liquidity, earnings, operations and reputation.

CRM is organized with dedicated units that support, Market Risk & Derivatives, Operational Risk and Governance, Model Validation, Risk Reporting & Stress Testing, and Credit Risk.

LOCATION: Bridgewater, NJ

THE ROLE:

Assistant Vice President of Model Risk Validation

Reporting into the Vice President, the Assistant Vice President of Model Risk Validation will be responsible for performing complex validations, leading a team of professionals that conduct model validations and maintain model risk standards in accordance with existing and emerging regulatory requirements globally.

Responsibilities:

The successful candidate will conduct model validations, lead and supervise a team of validators and will work both independently and with significant dependence on relationships with Corporate Actuarial, Business Unit Actuaries, the Treasurer's group, Portfolio Managers, Finance, Investments and model vendors. The Assistant Vice President will:

Model Validation & Testing:

  • Conduct complex model validations independently which include the development of a validation plan, the assessment of the mathematical, statistical, theoretical and conceptual soundness of each model, testing model output through building of challenger models, back testing, sensitivity analysis and stress testing.
  • Lead a team of model validators and assist them throughout the validation cycle.
  • Continue developing standards and methodologies to perform effective challenge.

Reporting: Assist in preparing model risk reporting that includes status on compliance with regulatory expectations, validations performed and findings and assessment of model related errors.

Model Risk Mitigation & Remediation Efforts: Monitoring emerging regulatory requirements globally and develop changes to the framework and program to drive compliance.

Business Partnerships: Builds and maintains relationships with senior management within Actuarial and Investments. Works closely with model owners and developers to understand business context for model use, producing technical guidance and researching new modeling methodologies to support model owner's compliance with the Model Risk Policy

Job Requirements:

  • Advanced degree required, PhD or technical professional designation preferred

  • FSA or ASA preferred
  • 15+ years' experience in actuarial, applied financial quantitative analytic techniques and valuation including facility for managing quantitative data applications with proven modeling and analytical skills
  • In depth knowledge of insurance and investment products
  • In depth understanding of actuarial models, stochastic modeling, multiple asset class and derivative valuation methodologies, risk/performance metrics and risk factor sensitivity calculations
  • Competency in high level programming languages such as C++, actuarial software, Matlab and VBA
  • Ability to evaluate models, key assumptions and methodologies and challenges validity of the model
  • Experience in leading and conducting model validation for insurers and financial services
  • Ability to establish and maintain relationships with senior management
  • Ability to lead a team of professionals and to partner within matrix organizations
  • Strong written and verbal communication skills
  • In depth understanding of global regulatory expectations from various regulators for model risk validation and governance
  • Leadership Competencies:
  • Thinks Strategically - Sets direction aligned to the company's strategy, applying external and global perspective to meet local and global needs.

  • Creates Partnerships - Authentically builds trusted relationships and collaborates across global, diverse and multi-functional teams to successfully drive business objectives.

  • Drives Results - Sets aggressive goals and is accountable for continuously driving improved performance, leading change and ensuring high standards

Zip Code:

13313

Company Info
MetLife, Inc.
1095, Avenue of the Americas
New York, NY, United States

Phone:
Web Site: metLife.com

Company Profile

Company Info


MetLife, Inc.
1095, Avenue of the Americas
New York, NY, United States
Phone:
Web Site: metLife.com

AVP, Model Risk Validation - Corporate Risk

col-narrow-left   

Job ID:

22944

Location:

Bridgewater, NJ 

Job function:

Information Systems Management, Strategic Planning
col-narrow-right   

Posted:

03.10.2016

Employment Type:

Full time

Industry:

Financial
col-wide   

Title:

AVP, Model Risk Validation - Corporate Risk

Job Description:

"At MetLife, we're leading the global transformation of an industry we've long defined. United in purpose, diverse in perspective, we're dedicated to making a difference in the lives of our customers."

MetLife, through its subsidiaries and affiliates, is a global provider of life insurance, annuities, employee benefits and asset management with operations in nearly 50 countries and leading market positions in the United States, Japan, Latin America, Asia, Europe and the Middle East. With a proven track record of financial strength and delivering on promises since 1868, the company prides itself on helping people plan for their future by protecting what matters most - their families and their achievements.

With 2014 total operating income of ~$70 billion, MetLife is ranked #42 on the Fortune 500 list and #69 on the Forbes Global 2000 list of the world's largest public companies. Globally, the company has ~65,000 employees serving approximately 100 million customers, individuals, and businesses, including 90 of the FORTUNE 100. MetLife is also one of the largest institutional investors in the US with more than $450 billion in managed assets. FORTUNE Magazine's World's Most Admired Company survey recently named MetLife #1 in the Life and Health Insurance industry.

MetLife is an ambitious company with the scale, scope and talent to lead the transformation of the insurance and employee benefits industry, driving world class standards of performance around the globe. Launched in 2012 by MetLife Chairman and CEO, Steven Kandarian, the company's enterprise strategy is based on four cornerstones: Refocus the U.S. Business, Grow Emerging Markets, Build a Global Employee Benefits Business and Drive Towards Customer Centricity and a Global Brand. Concrete actions are well underway in each of these strategic focus areas, including moving to a horizontally-integrated global operating model to help drive greater leverage of technology and operations and the more consistent application of functional priorities across global markets.

As One MetLife, the company has defined common values shared across the enterprise: Put Customers First, Be the Best, Make Things Easier, and Succeed Together. These values guide how employees operate every day and are reflected in the company's commitment to creating a world-class organizationwhich places a high value on motivational leadership, engaged talent, and customer focus. For more information on working at MetLife, please visit MetLife Careers

MetLife Corporate Risk Management

Corporate Risk Management (CRM) is responsible for providing an enterprise-wide, independent and comprehensive framework to appropriately identify aggregate, measure, manage and report risks across the organization that impact the Company's capital, liquidity, earnings, operations and reputation.

CRM is organized with dedicated units that support, Market Risk & Derivatives, Operational Risk and Governance, Model Validation, Risk Reporting & Stress Testing, and Credit Risk.

LOCATION: Bridgewater, NJ

THE ROLE:

Assistant Vice President of Model Risk Validation

Reporting into the Vice President, the Assistant Vice President of Model Risk Validation will be responsible for performing complex validations, leading a team of professionals that conduct model validations and maintain model risk standards in accordance with existing and emerging regulatory requirements globally.

Responsibilities:

The successful candidate will conduct model validations, lead and supervise a team of validators and will work both independently and with significant dependence on relationships with Corporate Actuarial, Business Unit Actuaries, the Treasurer's group, Portfolio Managers, Finance, Investments and model vendors. The Assistant Vice President will:

Model Validation & Testing:

  • Conduct complex model validations independently which include the development of a validation plan, the assessment of the mathematical, statistical, theoretical and conceptual soundness of each model, testing model output through building of challenger models, back testing, sensitivity analysis and stress testing.
  • Lead a team of model validators and assist them throughout the validation cycle.
  • Continue developing standards and methodologies to perform effective challenge.

Reporting: Assist in preparing model risk reporting that includes status on compliance with regulatory expectations, validations performed and findings and assessment of model related errors.

Model Risk Mitigation & Remediation Efforts: Monitoring emerging regulatory requirements globally and develop changes to the framework and program to drive compliance.

Business Partnerships: Builds and maintains relationships with senior management within Actuarial and Investments. Works closely with model owners and developers to understand business context for model use, producing technical guidance and researching new modeling methodologies to support model owner's compliance with the Model Risk Policy

Job Requirements:

  • Advanced degree required, PhD or technical professional designation preferred

  • FSA or ASA preferred
  • 15+ years' experience in actuarial, applied financial quantitative analytic techniques and valuation including facility for managing quantitative data applications with proven modeling and analytical skills
  • In depth knowledge of insurance and investment products
  • In depth understanding of actuarial models, stochastic modeling, multiple asset class and derivative valuation methodologies, risk/performance metrics and risk factor sensitivity calculations
  • Competency in high level programming languages such as C++, actuarial software, Matlab and VBA
  • Ability to evaluate models, key assumptions and methodologies and challenges validity of the model
  • Experience in leading and conducting model validation for insurers and financial services
  • Ability to establish and maintain relationships with senior management
  • Ability to lead a team of professionals and to partner within matrix organizations
  • Strong written and verbal communication skills
  • In depth understanding of global regulatory expectations from various regulators for model risk validation and governance
  • Leadership Competencies:
  • Thinks Strategically - Sets direction aligned to the company's strategy, applying external and global perspective to meet local and global needs.

  • Creates Partnerships - Authentically builds trusted relationships and collaborates across global, diverse and multi-functional teams to successfully drive business objectives.

  • Drives Results - Sets aggressive goals and is accountable for continuously driving improved performance, leading change and ensuring high standards

Zip Code:

13313
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