William Pauling, Cfa Email & Phone Number

Hartford, Connecticut, United States

Hartford, Ct

Developed stochastic economic scenarios used for economic capital, capital allocation and asset allocation. Lead capital market assumption process, collecting input from investment and risk managers as well as external sources. Coordinated deterministic scenarios used for stress testing; partnered with investment management, actuarial, ALM and risk management to develop assumptions and validate results. Performed asset allocation study for The Hartford's defined benefit plan; conclusions used to support de-risking actions.• Provided risk and portfolio managers with a monthly view of credit risk as economic environment changes by extending the Kamakura methodology to include additional fixed income sectors and macroeconomic variables.• Improved CT insurance regulators understanding of the Economic Capital (EC) model by completing a multi-day on-site presentation with an in-depth view of the model. Team received ERM Excellence Award.• Improved representation of credit spread risk in the EC model by developing a stochastic model that was calibrated to historical characteristics, was back tested and produced reasonable simulated results.• Enabled the pension committee to move forward with a de-risking plan by leveraging existing capital market assumptions, GEMS scenarios for asset class returns and plan cash flows to develop an asset-liability model that could be optimized.

Hartford, Ct

Created custom investment benchmarks for general account and external client portfolios, providing clarity to portfolio management team. Updated client investment policy statements, providing clear investment guidelines to all stakeholders. Drove portfolio and benchmark simplification and efficiency improvements, which streamlined portfolio management and reporting requirements. Developed real-world economic scenarios used throughout the enterprise for risk analysis and cash flow testing.• Created a benchmark that was consistent with new portfolio management style by working with portfolio management to reduce of the number of indices from 50 to 13 while closely matching prior benchmark characteristics.• Provided appointed actuary with a full distribution of default charges by developing an approach that expanded on the existing methodology.• Enabled framework for generating excess returns within acceptable level of tracking error by establishing a monthly process for constructing custom “style benchmarks” for general account portfolios.

Hartford, Ct

Responsible for risk management oversight of $30bn of Hartford Life general account assets backing deferred annuity, GICs and fixed annuity reserves. Developed real-world economic scenarios used throughout the enterprise for product development, risk analysis and cash flow testing. Highlighted risk in variable annuities and equity markets for senior management. Member of the team that redesigned accounting policy for Deferred Acquisition Costs (DAC) for Hartford Life to be simpler and more consistent with industry practice.• Promoted more efficient investment and risk decisions by reorganizing general account portfolio structure within Aladdin to align with insurance legal entities versus line of business.• Created new methodology for calculating Deferred Acquisition Costs (DAC) that was more stable, explainable and consistent with industry practice by participating in a small group tasked with redesigning the accounting policy.• Reduced the risk profile of the Japan Variable Annuity by using currency hedged investment mandates through analysis of the amount of product currency risk and modeling alternative designs that provided an acceptable risk profile. Team received The Harford’s Chairman Award.

Philadelphia, Pa

Held various positions of increasing responsibility culminating in managing four professionals with annual operating budget of approximately $1 million. Responsible for research, development and support of three software tools - economic scenario generator, portfolio optimizer and asset pricing model. Analyzed asset class returns and researched their relationships to economic variables. Coordinated global capital market assumptions used in asset allocation and asset / liability studies for pension funds and insurance companies. Assisted in the marketing of simulation tools to current and potential clients