Risk Analyst
Job Summary of Risk Analyst:
This role provides specialized actuarial expertise in Life Risk, focusing on Financial and Model Risk. The individual will conduct independent model validation, develop and evaluate life actuarial models, and ensure compliance with regulatory frameworks.
Job Duties and Responsibilities of Risk Analyst:
- Perform independent model validation control activities for high-risk in-house and vendor models.
- Develop and implement validation testing plans using advanced technical approaches.
- Replicate model development and create challenger models using predictive modeling, machine learning, deep learning, time-series modeling/forecasting, stress testing, actuarial models, simulation, optimization, or other specialized techniques.
- Conduct model testing and data quality assessments for models using large and unstructured datasets.
- Review the end-to-end lifecycle management of model development, implementation, monitoring, and usage in Banking and Insurance (Property & Casualty and Life) and associated operational processes.
- Assess model risk ratings, declassification applications, materiality of changes, and perform model change validations; coordinate and advise peers on validation work.
- Produce and deliver validation reports to management, model partners, senior leadership, and other stakeholders.
- Implement independent model validation aligned with risk and compliance policies, evaluating control strengths and developing emerging modeling techniques.
Qualifications and Experience of Risk Analyst:
- Bachelor's degree in a quantitative field (Economics, Mathematics, Statistics, Actuarial Science, Data Science, Engineering, Computer Science, or related) or 4 additional years of related experience in lieu of degree.
- 6 years of related work experience in model validation, model development, statistical analysis, or advanced quantitative research.
- Advanced degree (Master’s or PhD) in a quantitative field with 4 years of relevant experience in model validation, model development, statistical analysis, or advanced quantitative research.
- Experience communicating quantitative/technical concepts and conclusions to non-technical audiences, senior leadership, auditors, and regulators.
- Strong programming skills in R, Python, SAS, Java, C, SQL, or comparable languages for model and algorithm development, including assumption testing, data quality assessments, variable selection, back-testing, benchmarking, and model testing.
- Extensive experience with at least three of the following methods: Unsupervised Learning, K-Means, Linear Regression, Time-Series/Forecasting, Stress Testing, Logistic Regression, Gaussian Process, Simulation Models, Boosting/Bagging Trees, Neural Networks, Deep Learning Concepts, Bayesian Estimators.
- Strong understanding of business operations and modeling/analytics in Banking and/or Insurance.
Benefits of Risk Analyst:
- Comprehensive medical, dental, and vision plans.
- 401(k) and pension plans.
- Life insurance, parental benefits, and adoption assistance.
- Paid time off, paid holidays, and 16 paid volunteer hours annually.
- Wellness programs and professional development support.
Salary:
- $127,310 - $243,340 annually
About Company:
USAA empowers members to achieve financial security through highly competitive products, trusted advice, and exceptional service. Serving the military community and their families, USAA upholds values of honesty, integrity, loyalty, and service, fostering an inclusive and supportive workplace with comprehensive benefits and professional development opportunities.