TIAA Director, Quantitative Risk Management Officer in New York, New York
Quantitative Risk Mgmt Officer-Model Validation
This position will perform independent reviews and validations of models covering a wide range of models with primary focus on models used in the Actuarial Services Division.
Key Responsibilities and Duties
The Model Risk Management (MRM) team within the TIAA’s Enterprise Risk Control is responsible for the assessment, management, measurement, and reporting of model risk.
This includes model validation and governance activities: initial model validation and model performance review; risk rating of models; front-to-back model governance and control.
The objective is to ensure that models are fit for the intended purpose in the business context and that model users are aware of the models' strengths and limitations impacting their decisions
5 Years Required; 7 Years Preferred
University (Degree), Preferred
- Physical Requirements: Sedentary Work
- 5 years or more of actuarial and/or risk modeling
Bachelors / Masters / PhD Degree in Quantitative Field (e.g. Math, Physics, Finance, Financial Engineering, etc)
5 years or more of actuarial model experience
ASA (Associate in the Society of Actuaries), CERA or FSA (Fellow in the Society of Actuaries)
Experience with insurance models, annuity models, and ALM models either as a developer or validator
Experience with MG-ALFA
ADDITIONAL JOB RESPONSIBILITIES AND DUTIES:
This role will validate models in the Actuarial Services area of TIAA. This will include insurance product pricing models, pension annuity models, mortality models, asset and liability management, and other related models.
Potential Salary: $153,000.00 USD
Actual base salary may vary based upon, but not limited to, relevant experience, time in role, base salary of internal peers, prior performance, business sector, and geographic location. In addition to base salary, the competitive compensation package may include, depending on the role, participation in an incentive program linked to performance (for example, annual discretionary incentive programs, non-annual sales incentive plans, or other non-annual incentive plans).
TIAA is the leading provider of financial services in the academic, research, medical, cultural and government fields. We offer a wide range of financial solutions, including investing, banking, advice and education, and retirement services.
Benefits and Total Rewards
The organization is committed to making financial well-being possible for its clients, and is equally committed to the well-being of our associates. That’s why we offer a comprehensive Total Rewards package designed to make a positive difference in the lives of our associates and their loved ones. Our benefits include a superior retirement program and highly competitive health, wellness and work life offerings that can help you achieve and maintain your best possible physical, emotional and financial well-being. To learn more about your benefits, please review our Benefits Summary (https://www.tiaa.org/public/pdf/benefits-at-a-glance.pdf) .
We are an Equal Opportunity/Affirmative Action Employer. We consider all qualified applicants for employment regardless of age, race, color, national origin, sex, religion, veteran status, disability, sexual orientation, gender identity, or any other protected status.
Read more about the Equal Opportunity Law here (https://www.dol.gov/general/topics/posters) .
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TIAA started out over 100 years ago to help ensure teachers could retire with dignity. Today, many people who work at not-for-profits rely on our wide range of financial products and services to support and strengthen their financial well-being.