Note: The job is a remote job and is open to candidates in USA. Aflac, a Fortune 500 company and leader in voluntary insurance products, is seeking a Model Risk Consultant. This role involves validating actuarial, financial, and predictive models, ensuring alignment with best practices, and communicating findings to management and risk committees.
Responsibilities
- Performs independent validations of actuarial, financial, investment, and/or predictive models
- Reviews model methodology, assumptions, and documentation to ensure alignment with ASOPs, best practices, and internal model governance
- Recreates model outputs using challenger models, simplified calculations, or benchmarking
- Assesses data inputs for appropriateness, completeness, and transformation accuracy
- Evaluates model implementation controls and change management evidence
- Validates coding logic and implementation for business management software in programing languages such as SQL, R, Python, or VBA
- Performs sensitivity testing, stress testing, and back testing to evaluate model robustness
- Identifies model limitations, risks, and potential failure points
- Prepares clear model validation reports that detail findings, issues, severity levels, and remediation recommendations
- Works with model owners and business stakeholders to ask model-related questions and perform controls reviews
- Presents results to Model Risk Management subcommittees and working groups
- Tracks issue remediation and performs follow-up validations
- Ensures adherence to internal MRM policies and regulatory requirements (e.g. SOX, BMA, NAIC)
- Develops and enhances a streamlined process for model validations
Skills
- Strong practical knowledge of insurance, finance, investments and/or mathematical or statistical Modeling
- Strong programming skills and modeling experience to validate various model methodologies, calculations and processes
- Ability to design, document, and communicate the validation process to risk committees and Management
- Technical proficiency in SQL and cloud-based platforms (Snowflake preferred)
- Technical proficiency in programming languages (Python and R preferred)
- Ability to adapt to newer platforms that may be adopted to boost usage of ML/AI for process automation/validation
- Advanced knowledge of Microsoft Office, particularly Excel with strong VBA (spread-sheet automation) skills
- Excellent business partnering and communication skills
- Ability to dive into technical and execution level details, connect the dots while thinking Strategically
- Enthusiastic about developing and improving tools and processes, with a focus on efficiency and user friendliness
- A proactive mindset with proven ability to manage projects independently and effectively
- Ability to teach/train/onboard junior analysts to mathematical concepts, programming languages and ML/AI adaption
- Excellent oral, written, and interpersonal communications skills to effectively interact with peers, management, and internal customers, and external vendor representatives
- Bachelor's Degree in Mathematics, Statistics, Computer Science, Actuarial Science, Finance, Data Science, Risk Management, or other quantitatively intensive field
- 6 years of professional job-related work experience
- Fellow of the Society of Actuaries (FSA), Chartered Financial Analyst (CFA), and/or Financial Risk Manager (FRM)
- Insurance experience preferred
Benefits
- Medical, dental, and vision coverage
- Prescription drug coverage
- Health care flexible spending
- Dependent care flexible spending
- Aflac supplemental policies (Accident, Cancer, Critical Illness and Hospital Indemnity offered at no costs to employee)
- 401(k) plans
- Annual bonuses
- An opportunity to purchase company stock
- 11 paid holidays
- Up to 20 days PTO to be used for any reason
- If eligible, state-mandated sick leave (Washington employees accrue 1-hour sick leave for every 40 hours worked)
- Other leaves of absence, if eligible, when needed to support your physical, financial, and emotional well-being
- Aflac complies with all applicable leave laws, including, but not limited to, sick and safe leave, and adoption and parental leave, in all states and localities
Company Overview
Aflac is a company that offers individuals and companies supplemental disability insurance. It was founded in 1955, and is headquartered in Columbus, Georgia, USA, with a workforce of 10001+ employees. Its website is http://www.aflac.com.Company H1B Sponsorship
Aflac has a track record of offering H1B sponsorships, with 8 in 2025, 2 in 2024, 3 in 2023, 7 in 2022, 2 in 2021. Please note that this does not guarantee sponsorship for this specific role.