Erzhe Zhang

Principal, Actuarial
Erzhe Zhang is a Principal with the Actuarial Practice of Oliver Wyman based in Chicago.

Erzhe specializes in model validation, financial modeling, and reporting. Prior to joining Oliver Wyman, Erzhe was a senior member of the modeling team at Allstate financial, charged with inforce FDA and FIA model development.   

His relevant experience includes:

• Led multiple end-to-end AXIS model validations for multiple international corporations’ high-risk lines of business; products include ULSG, VUL, Term, Traditional Life, LTC, and Annuities; bases considered include GAAP, CFT, Statutory and PBR. Resulting findings are quantified for remediation

–Designed the process to manage actuarial model findings, including the set of guiding principles and procedural steps to execute an action plan (e.g., short & long term remediation, ongoing monitoring & assessment)

• Led conversion of a Moody’s Analytics AXIS (AXIS) model containing Term and ULSG with triple shadow and specified guarantees; conversion included an overhaul of the client’s existing framework to adhere to modeling best practices; Excel replication tools were provided for cashflows, economic, and AG38 reserves

• Led testing associated with AXIS PBR conversion for a premier US Life insurer. In scope were pricing and inforce models, including ULSG, IUL, VUL, and Term. Independent Excel models were produced, replicating AXIS and reconciling after tax profits and capital

• Led client modeling team as part of a staff augmentation, which included implementing and testing model refinements in support of quarter-end, budgeting, and annual assumption unlocking. Worked with senior management and accounting to manage out-of-period adjustments. Represented client to external auditors during quarter close

• Performed both buy- and sell-side due diligence on several life transactions in the US, including life settlement portfolio analysis

• Supported independent actuarial review of statutory reserve redundancies associated with Regulation XXX and AXXX, for potential securitization or other financing solutions

He is a Fellow of the Society of Actuaries and a Member of the American Academy of Actuaries.