ALM Director, Life Solutions (STG)
As part of an industry-leading team, you will help empower results for our clients by delivering innovative and effective solutions as part of our Solutions & Technology Group (STG) within Aon Reinsurance.
As a Director, you will report directly to the Managing Director, Consulting.
This is a remote role with the flexibility to work from anywhere within the United States.
Aon is in the business of better decisions
At Aon, we shape decisions for the better to protect and enrich the lives of people around the world. As an organization, we are united through trust as one inclusive, diverse team, and we are passionate about helping our colleagues and clients succeed.
What the day will look like
STG provides high efficiency computing software, consulting services as well as advisory services to financial intermediaries, primarily insurance companies. STG’s high-performance software platform, PathWise, provides companies with the ability to easily model financial obligations without involved coding and is run on Graphical Processing Units (GPU), making it the fastest, readily available software platform currently in use in the insurance industry. STG’s consulting services has focused primarily on actuarial analysis, reinsurance modeling and structing, reviews of hedging programs, and modeling of insurance liabilities and financial assets.
Principal Responsibilities:
Development Services
- Develop and implement asset liability management (ALM) / liability driven investing (LDI) models for institutional clients
- Provide programming and analytical expertise in a practical asset/liability and portfolio management context, including ALM risk monitoring and reporting, asset rebalancing, portfolio optimizations, and investment strategy research
- Build and maintain financial asset models for use in balance sheet projections of financial services companies
- Build and maintain Economic Scenario Generators used in the valuation of financial assets and insurance liabilities
- Further the development of robust processes for ALM, hedging, strategic asset allocation, scenario generator calibration, insurance company financial reporting, etc.
- Participate in the expansion of PathWise functionality as required or as requested by clients
Onboarding Services
- Support the development of models and processes for companies moving into PathWise
- Provide hands-on training for PathWise users
- Develop standalone training reference materials for PathWise users
- Identify shortfalls in company processes and propose improvements
- Troubleshoot issues as they arise during PathWise migrations, focusing on providing a strong initial user experience
Business Development Support
- Participate in demonstrations to potential clients
- Develop models specific to client requirements
- Participate in industry, academic and internal research projects
- Develop and deliver presentations on emerging issues pertaining to the insurance industry and the financial services industry
- Attend industry and client conferences
Skills and experience that will lead to success
- 8+ years of experience in asset modelling, investment, life insurance or pension industry in an investment actuary role working within ALM/Portfolio Management
- Experience/knowledge of determining asset allocation strategies, portfolio optimization, liability driven investment strategies, and measuring investment related risks
- Experience/knowledge on modeling general account assets including fixed income securities, equities, private debt, structured assets (e.g., CLO), and derivatives
- In-depth knowledge participating and index-linked insurance products, and the valuation and capital requirements for such products
- Familiarity with Monte Carlo simulations
- Experience with object-oriented programming languages and actuarial software systems (Python programming experience preferred)
- Member of the Institute of Actuaries, Society of Actuaries, or Chartered Financial Analyst preferred
- Strong communication skills for heavy team and client interactions
Education: Bachelor’s Degree in Finance, Economics, Actuarial Sciences, Statistics, Applied Mathematics or equivalent years of industry experience.
How we support our colleagues
Aon offers a comprehensive package of benefits for full-time and regular part-time colleagues, including, but not limited to: a 401(k) savings plan with employer contributions; an employee stock purchase plan; consideration for long-term incentive awards at Aon’s discretion; medical, dental and vision insurance, various types of leaves of absence, paid time off, including 12 paid holidays throughout the calendar year, 15 days of paid vacation per year, paid sick leave as provided under state and local paid sick leave laws, short-term disability and optional long-term disability, health savings account, health care and dependent care reimbursement accounts, employee and dependent life insurance and supplemental life and AD&D insurance; optional personal insurance policies, adoption assistance, tuition assistance, commuter benefits, and an employee assistance program that includes free counseling sessions. Eligibility for benefits is governed by the applicable plan documents and policies.
In addition to our comprehensive benefits package, we encourage a diverse workforce. Plus, our agile, inclusive environment allows you to manage your wellbeing and work/life balance, ensuring you can be your best self at Aon. Furthermore, all colleagues enjoy two “Global Wellbeing Days” each year, encouraging you to take time to focus on yourself. We offer a variety of working style solutions, but we also recognize that flexibility goes beyond just the place of work... and we are all for it. We call this Smart Working!
Our continuous learning culture inspires and equips you to learn, share and grow, helping you achieve your fullest potential. As a result, at Aon, you are more connected, more relevant, and more valued.
Aon values an innovative, diverse workplace where all colleagues feel empowered to be their authentic selves. Aon is proud to be an equal opportunity workplace.
Aon provides equal employment opportunities to all employees and applicants for employment without regard to race, color, religion, creed, sex, sexual orientation, gender identity, national origin, age, disability, veteran, marital, domestic partner status, or other legally protected status. People with criminal histories are encouraged to apply.
We welcome applications from all and provide individuals with disabilities with reasonable adjustments to participate in the job application, interview process and to perform essential job functions once onboard. If you would like to learn more about the reasonable accommodations we provide, email ReasonableAccommodations@Aon.com
For positions in San Francisco and Los Angeles, we will consider for employment qualified applicants with arrest and conviction record in accordance with local Fair Chance ordinances.
Nothing in this job description restricts management's right to assign or reassign duties and responsibilities to this job at any time.
Pay Transparency Laws:
The salary range for this position (intended for U.S. applicants) is $170,000 to $210,000 annually. The actual salary will vary based on applicant’s education, experience, skills, and abilities, as well as internal equity and alignment with market data. The salary may also be adjusted based on applicant’s geographic location.
This position is eligible to participate in one of Aon’s annual incentive plans to receive an annual discretionary bonus in addition to base salary. The amount of any bonus varies and is subject to the terms and conditions of the applicable incentive plan.
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