Risk Management Associate

HighlightsAIG Job ID: SUNJBRMASSPosition Type: Full Time - RegularLocation: CA-Woodland HillsRelocation: NoRequirementsEducation: Some CollegeExperience: 1-2 yearsDescription: AIG SunAmerica, a member of American International Group, Inc. (NYSE: AIG), is a financial services company specializing in retirement savings and investment products and services. In 2001, AIG’s balanced mix of businesses was enhanced by AIG’s acquisition of American General Corporation and the subsequent integration of the retirement savings businesses of AIG, SunAmerica, and American General.AIG has recently started a market risk management (MRM) group at SunAmerica to focus on the management and hedging of the market risks embedded in AIG’s retirement savings products. The initial focus of the group is the hedging of Variable Annuity (VA) guarantees. For its staffing needs this group is hiring a variety of professionals including actuaries, financial engineers, programmers, and risk managers. The current opening, which is described below, is for a Risk Management Associate.Duties1)Responsible for the policyholder information data management processes.a)Run processes to extract policyholder information data from Administrative Systems and/or Data Warehouses for input into a MRM system.b)Help design and run data integrity checks on this information.c)Periodically define requirements for enhancing this data management process.2)Responsible for the assumption management process for the MRM models. These are proprietary models in a vended actuarial software system (MOSES).3)Oversee large distributed processing runs in MOSES on servers.4)Maintain data bases of hedging information output from the MOSES model.5)Produce risk reports and other management reports.6)Maintain databases of historic market information.7)Assist in reconciliation of hedging data with accounting data.8)Responsible for maintaining trade database, including reconciliation and checking out with the Back Office and Accounting.9)Assist in the physical maintenance of the group’s software-library repository.10)Perform regression tests and other user level tests of changes made to MOSES model.Level/Skills1)Pre-ASA or recent ASA a plus.2)One to five years of experience, preferably in the financial services industry.3)Knowledge of a high-level programming language, such as VBA or C.4)Knowledge of SQL or Access.5)Some knowledge of GAAP a plus.6)Some knowledge of derivatives models and valuation techniques a plus.7) Detail and process oriented.8) Comfortable working in a structured environment that emphasizes operational controls.Contact:About AIG: American International Group, Inc. (AIG) is the world's leading international insurance and financial services organization, with operations in more than 130 countries and jurisdictions. AIG member companies serve commercial, institutional and individual customers through the most extensive worldwide property-casualty and life insurance networks of any insurer. In the United States, AIG companies are the largest underwriters of commercial and industrial insurance and AIG American General is a top-ranked life insurer. AIG's global businesses also include retirement services, financial services and asset management. AIG's financial services businesses include aircraft leasing, financial products, trading and market making.AIG's growing global consumer finance business is led in the United States by American General Finance. AIG also has one of the largest U.S. retirement services businesses through AIG SunAmerica and AIG VALIC, and is a leader in asset management for the individual and institutional markets, with specialized investment management capabilities in equities, fixed income, alternative investments and real estate. AIG's common stock is listed in the U.S. on the New York Stock Exchange and ArcaEx, as well as the stock exchanges in London, Paris, Switzerland and Tokyo.AIG is an Equal Opportunity Employer..