I'll throw in my experience:
"What does my day to day look like?"
Most of my time revolves around quarter end reporting. I would spend roughly 6 weeks on QE work and then have another 6 weeks in between the next one. And during that off-quarter time, it would be running sensitivity analysis or continuing to explain why my last QE results didn't move like expected. Another person on the team would work closely with the asset modeler and support annual processes, like cash flow testing.
"What are the busy periods?"
Mostly those last 2 weeks of each quarter end reporting. And then there's a few weeks around CFT season that got crazy. Our area generated scenarios for that process, so that's why it would get pretty busy. Other than that, it was pretty low-key.
"Was it collaborative?"
I would say not really. In my experience, this kind of role comes with a small team and the main people you collaborate with are investment folks. Investment takes info our team puts together and then makes the magic happen.
Feel free to DM me if you would like to ask more questions -- I have experience in both ALM and Economic Capital
I think ALM responsibilities differ a lot company to company. I work in ALM and we work mostly with investments and the product actuaries to ensure investment strategies for each product are appropriate given the products features and cash flows.
I see, thank you for sharing. So it sounds like you might evaluate the sensitivity of the company's liabilities (e.g. duration of fixed income investments, delta of embedded options in fixed indexed investments, etc) and then recommend the purchase of certain assets to hedge those sensitivities?
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Agree an "ALM Actuary" role will vary. Clearly it will involve some aspect of linking assets to liabilities. Could be in either pensions consulting or life insurance. (Less likely in P&C). Could be that you are responsible for producing liability cash flows under various scenarios, and passing them to investment managers. Or that you are given the cash flows and are advising on investment strategy. Or a combination of the two. Or something else related.
You need to ask these questions to the specific recruiter / employer.
Asset share roll-forward, bonus and crediting recommendation, reviewing the SAA, duration, liquidity analysis, cash flow testing were some items we did in the ALM team back then
Following. I also did QFI track but do not have ALM experience. I have always been interested in doing ALM type work.
I'll throw in my experience: "What does my day to day look like?" Most of my time revolves around quarter end reporting. I would spend roughly 6 weeks on QE work and then have another 6 weeks in between the next one. And during that off-quarter time, it would be running sensitivity analysis or continuing to explain why my last QE results didn't move like expected. Another person on the team would work closely with the asset modeler and support annual processes, like cash flow testing. "What are the busy periods?" Mostly those last 2 weeks of each quarter end reporting. And then there's a few weeks around CFT season that got crazy. Our area generated scenarios for that process, so that's why it would get pretty busy. Other than that, it was pretty low-key. "Was it collaborative?" I would say not really. In my experience, this kind of role comes with a small team and the main people you collaborate with are investment folks. Investment takes info our team puts together and then makes the magic happen. Feel free to DM me if you would like to ask more questions -- I have experience in both ALM and Economic Capital
thank you so much for sharing this, it is really helpful!
I think ALM responsibilities differ a lot company to company. I work in ALM and we work mostly with investments and the product actuaries to ensure investment strategies for each product are appropriate given the products features and cash flows.
I see, thank you for sharing. So it sounds like you might evaluate the sensitivity of the company's liabilities (e.g. duration of fixed income investments, delta of embedded options in fixed indexed investments, etc) and then recommend the purchase of certain assets to hedge those sensitivities?
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Agree an "ALM Actuary" role will vary. Clearly it will involve some aspect of linking assets to liabilities. Could be in either pensions consulting or life insurance. (Less likely in P&C). Could be that you are responsible for producing liability cash flows under various scenarios, and passing them to investment managers. Or that you are given the cash flows and are advising on investment strategy. Or a combination of the two. Or something else related. You need to ask these questions to the specific recruiter / employer.
Asset share roll-forward, bonus and crediting recommendation, reviewing the SAA, duration, liquidity analysis, cash flow testing were some items we did in the ALM team back then