Model Risk Actuary

Key Duties and Responsibilities

• Maintain and administer the company’s model governance and assumption governance frameworks in alignment with regulatory requirements and industry best practices.
• Identify, assess, monitor and report on model risk within the company’s enterprise risk management framework.
• Serve as secretary to the Company’s Model and Assumption Governance Committee.
• Maintain comprehensive inventories of all models and assumptions used within the company.
• Perform independent validations of actuarial and financial models.
• Lead the annual review of model risk rating classifications.
• Oversee model change processes, ensuring proper testing, documentation, and approval before deployment.
• Monitor model limitations, uncertainties, and potential biases.
• Support the usage of standardized model and assumption governance tools and templates.
• Manage and support annual review of the Company’s actuarial assumptions.
• Support technical review of pricing initiatives.
• Collaborate with actuarial, finance, underwriting, and risk teams to embed model risk awareness.
• Provide training and guidance on model risk principles.
• Support the implementation of a data governance framework applicable to actuarial, and/or financial uses of data.
• Other tasks as assigned.

Required Education and Experience

• Preferred: FSA or equivalent along with bachelor’s degree in Actuarial Science, Mathematics, Statistics, Economics or related field and 5 years of relevant experience
• In lieu of Bachelor's, will accept Master's in a listed discipline and 3 years of relevant experience.
• In lieu of FSA, will accept ASA or equivalent professional designation and 7 years of relevant experience.
• Prior experience in model governance, assumption governance, or risk management preferred.

Required Skills

• Strong understanding of stochastic modeling, financial reporting, and regulatory frameworks (e.g., US GAAP, Bermuda EBS).
• Proficiency in actuarial software and data analytics tools.
• Excellent communication and influencing skills.
• Ability to challenge constructively and manage cross-functional relationships.
• Advanced Microsoft Office skills (Excel, Word, PowerPoint)
• Demonstrated ability to manage multiple priorities and meet deadlines in fast-paced environment
• High degree of attention to detail and excellent problem-solving skills
• Capable of summarizing and communicating complex topics clearly and succinctly
• Ability to work independently and as part of a team
• High ethical standards and integrity

Location and Travel

• Martello Re welcomes applications for remote positions from candidates residing in the Eastern/Central United States where the company currently operates (CT, FL, GA, IL, IN, MD, MA, MO, NJ, NY, NC, PA, SC, TN, TX & District of Columbia) or within a commutable distance to our Charlotte, NC office in the United States. We are proud to be an equal opportunity employer and consider all qualified applicants without regard to race, color, religion, sex, national origin, age, disability, veteran status, sexual orientation, gender identity, or any other legally protected status.
• This position may require periodic travel to Martello Re offices or other relevant locations.

Physical Requirements

• Prolonged periods of sitting at a desk and working on a computer.
• Must be able to lift 15 pounds at times

Note for Recruitment Agencies

We kindly request that you do not forward any resumes to Martello Re employees unless specifically requested for this position or other roles within our organization. Martello Re bears no responsibility for fees related to unsolicited resumes.

Note to Applicants

Personal Information collected is used for recruitment purposes only and will be shared with hiring managers and those involved in the hiring process. We may retain your personal information for a reasonable period in compliance with applicable regulations, typically one year post application submission, to enable us to match your details with other suitable job opportunities that may arise from time to time, unless otherwise requested. Please refer to Martello Re’s Privacy Notice for further information on your rights and how we protect your personal information: Privacy Notice– Martello Re.