Director of Actuarial Model Validation

About Our Company

We’re a diversified financial services leader with more than $1.5 trillion in assets under management, administration and advisement as of year-end 2024. Our team of 22,000 people across 19 countries, serves more than 3.5 million individual, small business and institutional clients. We are a longstanding leader in financial planning and advice, a global asset manager and an insurer. Our unwavering focus on our clients and strong financial foundation connects each of our unique businesses – Ameriprise Financial, Columbia Threadneedle Investments and RiverSource Insurance and Annuities. Here, we foster meaningful careers, invest in the future, and make a difference for clients, institutions and communities around the world.

Job Description

Ameriprise Financial has an exciting opportunity for Director of Actuarial Model Validation to join the team! This position will be responsible for leading and implementing model validation activities, including validation, annual review, ongoing monitoring, findings management, and model use approvals.

Key Responsibilities:

• Manage a team of quantitative model validators to test and evaluate the conceptual soundness of actuarial models and assess limitations and suitability for use.

• Lead and implement model validation activities, including validation, annual review, ongoing monitoring, findings management, and model use approvals.

• Act as a subject matter expert in the key model risk area and other related modeling areas.

Required Qualifications:

• Master’s degree in actuarial science, Data Science, Mathematics, Financial Engineering, Economics, or another analytical field of study is required.

• Fellow of the Society of Actuaries (FSA)

• 5-7 years of required experience

• Significant recent experience in actuarial model design, product development, implementation, testing, and/or validation is required.

• Deep understanding of the models, products, assumptions, and processes across different areas (Life Insurance / Annuity / Health, Inforce / New Business, ALM, Hedging)

• Microsoft Office (e.g. Excel, Word, and PowerPoint),

• Actuarial modeling software (e.g. Prophet, AXIS, or ALFA, etc.)

• Previous people leadership experience and proven ability to mentor and develop people.

Preferred Qualifications:

• PhD

• Experience with Variable Annuities with enhanced Guarantees (GMxB’s), Structured Annuities / RILA and/or Universal/Variable/Indexed Life Insurance

• Programming / database languages (e.g. Python, C , VBA, SQL, R, or SAS)

In-Office Collaboration

We are a client-centric, relationship-based business. Working together, in-person, is foundational to how we achieve results. By fostering a culture of face-to-face collaboration, idea sharing, productivity and personal connection, we deliver for our stakeholders — clients, advisors, employees and shareholders. Our employees work in the office at least four (4) days per week, with flexibility to work from home one (1) day per week. Some roles may require additional in-office time or different in-office expectations, and specific requirements will be discussed during the hiring process.

Visa Sponsorship

Applicants must have a valid work authorization that does not now, or in the future, require visa sponsorship for employment in the United States (e.g., H-1B, F-1 CPT, F-1 OPT, TN).

Base Pay Salary

The estimated base salary for this role is $135,000- $237,200/year. We have a pay-for-performance compensation philosophy. Your initial total compensation may vary based on job-related knowledge, skills, experience, and geographical work location. In addition, most of our roles are eligible for variable pay in the form of bonus, commissions, and/or long-term incentives depending on the role. We also have a competitive and comprehensive benefits program that supports all aspects of your health and well-being, including but not limited to vacation time, sick time, 401(k), and health, dental and life insurances.

Full time

Exempt

Business Support & Operations

FIN Finance

Ameriprise Financial is an equal opportunity employer. We consider all qualified applicants without regard to race, color, religion, sex, sexual orientation, gender identity, gender expression, national origin, ancestry, age, physical or mental disability, medical condition, pregnancy, military status, veteran status, genetic information, citizenship, disability status, marital status, family status or any other basis prohibited by law.

We are committed to fostering an inclusive and accessible recruitment process for individuals with disabilities. If you require a reasonable accommodation to participate in the application or interview process, speak to your recruiter to discuss how we can support you.