Daren has overseen development of Milliman’s MG-Hedge® Valuation System, which has become the industry’s standard tool for hedging market risk associated with a range of annuity and life products. He has developed market-consistent option valuation models for various equity-linked investment products, as well as embedded interest rate derivatives, and overseen implementation as C++ modules. These valuation models have been used to support trading functions within active hedge programs, and have also served as calculation engines for stochastic-on-stochastic financial projections of hedge strategy performance.

Additionally, flexible design of these computational valuation models has enabled their use in calculating capital requirements, value at risk measures, and alternative valuation measures (such as equilibrium and GAAP valuations).