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Executive Director of Model Risk Management

Position Overview

Expand and implement second line enterprise-wide model risk management (MRM) governance framework with a focus on artificial intelligence (AI) and predictive models.

This member of the team will help establish and enhance the process for second line oversight including model inventory maintenance, validation, risk assessment and reporting. This role will involve frequent communication with model owners within the business units, as well as with model risk governance groups and other key stakeholders


  • Collaborate with key stakeholders to expand and implement the enterprise Model Risk Management (MRM) framework, with a focus on AI and predictive models.
  • Execute all second line model risk governance activities with a focus on AI and predictive models in collaboration with model owners, functional associates, and enterprise stakeholders. Activities include but are not limited to maintaining proper governance policy, maintaining the enterprise model inventory, performing model validation and risk assessment, and related reporting.
  • Support the evaluation, monitoring, and reporting of enterprise model risk exposure including identifying trends and mitigation opportunities.
  • Become the expert on regulatory requirements related to model risk in general, and with a focus on AI and predictive model governance and bias testing. Evaluate and update, if necessary, the MRM framework to comply with regulatory requirements.
  • Collaborate with operational risk leadership to support the operational risk quantification methodology and process, including related socialization to ensure methods are understood and appropriate.
  • Collaborate with business units to create awareness of the model risk framework and its implementation in order to maintain high engagement with model owners, first line risk officers and other stakeholders.
  • Mentor associates within the department. May performs supervisory duties including but not limited to hiring, training, evaluating, coaching, and disciplining of direct reports.
  • Lead or participate in related projects or perform other duties as required.
  • Maintain regular and predictable attendance.


  • Bachelor's degree in Math, Statistics, Actuarial Science, Finance, Economics, or related field
  • 7+ years of developing and using statistical models for insurance or related applications
  • Experience with bias testing of Generative AI models, large language models; and machine learning models such as random forests, gradient boosting machines, and neural networks.
  • Advanced PC and technical skills, including statistical programs (ex.: R, SAS, MATLAB, Gauss), spreadsheets (VBA) and database applications (Access, Oracle, SQL or equivalent technology).
  • Advanced knowledge in econometrics, statistics, math and/or computational finance.
  • Ability to quickly adapt to new methods, work under tight deadlines
  • Ability to work well within a team environment, participate in department/team projects and balance detail with departmental objectives
  • Highly advanced oral and written communication skills, demonstrating the ability to convey business terminology that is meaningful and well received
  • Highly advanced ability to manage multiple projects and/or teams simultaneously
  • Highly advanced persuasion and negotiating skills when working with internal/external customers
  • Advanced skills in change management
  • Ability to resolve conflict and foster teamwork
  • Highly advanced investigative, analytical and problem-solving skills
  • Highly advanced ability to translate business needs and problems into viable/accepted solutions
  • Highly advanced ability to liaise with individuals across a wide variety of operational, functional and technical disciplines


  • Master's degree or PhD in Statistics, Actuarial Science, Business, Finance, Economics, or related field
  • ASA or FSA Accreditation
  • 8+ years of experience with statistical modeling for insurance (GLM, Decision Trees, Time Series, Regression, Generative AI, etc.)
  • Knowledge of actuarial concepts including mortality, morbidity, and persistency studies.
  • Knowledge of life, health, and/or annuity products.
  • Knowledge of life insurance underwriting and biometric risk analysis
  • Knowledge of insurance risk analysis.

Company Overview

Reinsurance Group of America, Incorporated (NYSE: RGA) is one of the largest global life and health reinsurance companies. With headquarters in St. Louis, Missouri, RGA supports clients and partners around the world through innovative approaches and customized solutions.

Founded in 1973, RGA celebrated its 50th anniversary in 2023.

  • We are the only global reinsurance company to focus primarily on life- and health-related reinsurance solutions.
  • Our core products and services include life reinsurance, living benefits reinsurance, group reinsurance, health reinsurance, financial solutions, facultative underwriting, and product development.
  • RGA ranks #257 on the 2024 Fortune 500 list. The list ranks U.S.-based companies by total revenue.
  • RGA has been named to Fortune magazine's 2023 and 2024 lists of the World's Most Admired Companies.
  • RGA in Canada has been selected as one of Greater Toronto's Top Employers for 2024
  • RGA has approximately $3.5 trillion of life reinsurance in force and assets of $87.4 billion as of September 30, 2023.

RGA aims to evolve RGA workplaces and the communities in which RGA has a presence, into more diverse, equitable and inclusive environments. We will create a culture where individuals are valued, feel a sense of belonging, and are respected for their differences - a workplace where all employees are encouraged and supported to reach their full potential.

Our individual, social, economic, and cultural identities shape and influence our experiences and perspectives. Therefore, to do our best work RGA will ensure diversity in our workforce across the various dimensions of social, interpersonal, and cultural identity - and by practicing inclusivity in how we work with one another. Inclusion in our workplace is a step towards our purpose of making financial protection accessible to all .

Flexible Working Environment

RGA supports hybrid and flexible ways of working and would welcome a discussion on how it can balance what is important to you with business requirements during the recruitment process.

Visit our Annual Review site, , to find out more about us.

RGA offers an array of benefits, including flexible plans.

Pay is based on a number of factors, including market, a candidate's skills, and experience commensurate with a role, etc. salary range: $132,430 - $202,455 + bonus.

Executive Director of Model Risk Management

Farmingdale, United States
Full time

Published on 10/05/2024

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