Senior Actuarial Associate - Model Validation

Together we fight for everyone’s opportunity for a better financial future.

We will do this together — with customers, partners and colleagues. We will fight for others, not against: We will stand up for and champion everyone’s access to opportunities. The status quo is not good enough … we believe every individual and every community deserves access to financial opportunities. We are determined to support both individuals and communities in reaching a better financial future.  We know that reaching this future depends on our actions today.

Like our Purpose Statement, Voya believes in being bold and committed to action.  We are committed to a work environment where the differences that we are born with — and those we acquire throughout our lives — are understood, valued and intentionally pursued. We believe that our employees own our culture and have a responsibility to foster an environment where we all feel comfortable bringing our whole selves to work. Purposefully bringing our differences together to positively influence our culture, serve our clients and enrich our communities is essential to our vision.

Are you ready to join a company with a strong purpose and a winning culture? Start your Voyage – Apply Now

Get to Know the Opportunity:

The Senior Actuarial Associate, Model Validation reports to the Director, Model Validation within Voya’s Enterprise Risk Management organization. This role is responsible for conducting independent validations of models across the enterprise, including actuarial, asset management, non-financial, and AI/ML models. The position plays a critical role in ensuring model risk is effectively identified, assessed, and mitigated while supporting regulatory compliance, governance standards, model transparency, audit readiness, and risk-adjusted decision making.This role is fully remote, with no regular in-office requirement.

The Contributions You’ll Make:

• Lead and execute independent model validations and reviews, primarily focused on actuarial models with secondary responsibility for investment and AI/ML models.
• Independently assess model assumptions, methodologies, limitations, and outputs to challenge model accuracy, reliability, and appropriateness.
• Evaluate model controls and supporting documentation to ensure compliance with internal standards and regulatory expectations.
• Develop and execute testing plans to confirm models are functioning as intended and producing accurate results.
• Provide guidance to model owners and development teams on modeling best practices, controls, and model risk mitigation strategies.
• Track, monitor, and oversee remediation of issues and findings identified through model validation activities.
• Prepare comprehensive validation reports and present findings, recommendations, and conclusions to governance committees and key stakeholders.
• Support the ongoing enhancement of Voya’s Model Risk Management Framework, including policies, standards, and procedures.
• Partner with model owners, business units, Internal Audit, Compliance, and IT teams to facilitate timely and effective model validations.
• Participate in the Actuarial Student Rotation Program.
• Build strong working relationships and collaborate effectively across cross-functional teams.
• Perform additional duties and responsibilities as assigned.

Minimum Knowledge & Experience:

• Bachelor’s degree in Mathematics, Statistics, Actuarial Science, Finance, or a related quantitative field.
• 3-4+ years of actuarial modeling or quantitative analytics experience within the insurance or financial services industry.
• Completion of 5-6 actuarial exams and attainment of ASA designation.
• Experience building, running, and validating actuarial models.
• Strong understanding of model lifecycle concepts, model governance best practices, and regulatory expectations, including NAIC Model Risk Guidance and SR 11-7.
• Strong analytical, problem-solving, and critical-thinking skills with exceptional attention to detail.
• Strong written and verbal communication skills with the ability to present complex findings to various audiences.
• Advanced proficiency in Microsoft Excel.
• Demonstrated ability to independently manage initiatives, prioritize workload, and deliver results.
• Understanding of insurance products and experience in areas such as pricing, valuation, modeling, analytics, or risk management.
• Strong stakeholder management and collaboration skills.

Preferred Knowledge & Experience:

• Experience with investment modeling and asset-related analytics.
• Knowledge of AI/ML algorithms and experience developing or validating data science models.
• Experience using actuarial modeling platforms such as RiskAgility, Triton, AXIS, Prophet, or similar tools.

How This Role Aligns to Our Core Four:

At Voya, our Core Four represent the behaviors and outcomes that help us create value for our customers, colleagues, and business. This role contributes to those expectations in meaningful, role-specific ways.

• Instill Customer Obsession – Strengthen confidence in risk-based business decisions by validating models that support products, investments, and services impacting customer outcomes.
• Transform with Automation/AI – Evaluate AI/ML models and leverage technology, automation, and analytical tools to improve the effectiveness and efficiency of model validation activities.
• Drive Higher Performance Through Our People – Foster collaboration and accountability by partnering with model owners, business leaders, and cross-functional stakeholders to strengthen model risk practices.
• Execute on the Fundamentals – Ensure model integrity, regulatory compliance, and strong governance through rigorous testing, documentation review, issue management, and independent challenge.

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Compensation Pay Disclosure:

Voya is committed to pay that’s fair and equitable, which means comparable pay for comparable roles and responsibilities.

The below annual base salary range reflects the expected hiring range(s) for this position in the location(s) listed. In addition to base salary, Voya offers incentive opportunities (i.e., annual cash incentives, sales incentives, and/or long-term incentives) based on the role to reward the achievement of annual performance objectives. Please note that this salary information is solely for candidates hired to perform work within one of these locations, and refers to the amount Voya Financial is willing to pay at the time of this posting.

Actual compensation offered may vary from the posted salary range based upon the candidate’s geographic location, work experience, education, licensure requirements and/or skill level and will be finalized at the time of offer. Salaries for part-time roles will be prorated based upon the agreed upon number of hours to be regularly worked.

110,000 - 135,000

Be Well. Stay Well.

Voya provides the resources that can make a difference in your lives. To us, this means thriving physically, financially, socially and emotionally. Voya benefits are designed to help you do just that. That’s why we offer an array of plans, programs, tools and resources with one goal in mind: To help you and your family be well and stay well.

What We Offer

• Health, dental, vision and life insurance plans
• 401(k) Savings plan – with generous company matching contributions (up to 6%)
• Voya Retirement Plan – employer paid cash balance retirement plan (4%)
• Tuition reimbursement up to $5,250/year
• Paid time off – including 20 days paid time off, nine paid company holidays and a flexible Diversity Celebration Day.
• Paid volunteer time — 40 hours per calendar year

Learn more about Voya benefits (download PDF)

Critical Skills

At Voya, we have identified the following critical skills which are key to success in our culture:

• Customer Focused: Passionate drive to delight our customers and offer unique solutions that deliver on their expectations.
• Critical Thinking: Thoughtful process of analyzing data and problem solving data to reach a well-reasoned solution.
• Team Mentality: Partnering effectively to drive our culture and execute on our common goals.
• Business Acumen: Appreciation and understanding of the financial services industry in order to make sound business decisions.
• Learning Agility: Openness to new ways of thinking and acquiring new skills to retain a competitive advantage.

Learn more about Critical Skills

Equal Employment Opportunity

Voya Financial is an equal-opportunity employer. Voya Financial provides equal opportunity to qualified individuals regardless of race, color, sex, national origin, citizenship status, religion, age, disability, veteran status, creed, marital status, sexual orientation, gender identity, genetic information, or any other status protected by state or local law.

Reasonable Accommodations

Voya is committed to the inclusion of all qualified individuals. As part of this commitment, Voya will ensure that persons with disabilities are provided reasonable accommodations. If reasonable accommodation is needed to participate in the job application or interview process, to perform essential job functions, and/or to receive other benefits and privileges of employment, please reference resources for applicants with disabilities.

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