MG ALFA Modeler

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.

Is this the next step in your career Find out if you are the right candidate by reading through the complete overview below.

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