Shirley Song

Shirley is a member of Milliman’s IFRS 17 consulting services where she led various multi-year IFRS 17 model implementations. This work includes setting methodology and assumptions, developing transition approach strategy, and conducting reporting analysis. She holds the SOA International Financial Reporting for Insurers IFRS 17 Certification.

Shirley specializes in model risk management, having led and managed numerous large-scale projects focused on actuarial model validation. This work includes end-to-end model validation and model findings remediation.

She was heavily involved in the pricing, implementation, and financial risk management of variable annuity hedging programs for some of the largest U.S. and international (re)insurance companies, including Bermuda-based programs. She was responsible for month-end and quarter-end financial reporting, such as Market Consistent Embedded Value, Economic Risk Capital calculations, and ad-hoc hedge reconciliations. Shirley has also assisted multiple Bermuda clients with various aspects of the EBS framework, such as reviewing their models and developing robust model risk management frameworks. She was a key speaker at the Milliman Bermuda Risk Management Summit covering model risk management best practices.

Before joining the Seattle office, Shirley was a consulting actuary with Milliman’s Financial Risk Management Practice in Chicago from 2008 to 2017. Her responsibilities included performing daily hedging analysis with MG­Hedge®, advising traders on derivatives execution, and providing performance attribution, reserve attribution, and Value­At­Risk calculations. Shirley also has two years of experience working at large insurance/reinsurance, bank, and consulting firms during university prior to joining Milliman.

Shirley serves on the Society of Actuary’s FSA ­Level Examination Committee and has previously completed a three-­year term on the Society of Actuary’s International Section council.