A leader within a high performing group that performs financial reporting and analysis for a wide range of US and International products for the Global Financial Solutions (GFS) business segment underlying RGA's Non-Traditional reinsurance treaties. Products include Variable and Fixed annuities, Fixed Index Annuities, SPIAs, Longevity Swaps, and direct insurance and reinsurance of Pension Risk Transfer.
The Actuary, Valuation position will focus on production and analysis of US Statutory and regulatory requirements, including a key contributor to RGA's Pension Risk Transfer business. Additional responsibilities of the role may include contributing to the production and analysis of GAAP, Tax, Solvency II, ORSA, Economic Capital, Embedded Value, plan, and management analysis requests.
Communication with key executives at RGA along with maintaining excellent relationships with the Legal Entity, Corporate, Finance, and GFS Pricing & Risk Management teams are components of the role.
- Contributes to the ongoing enhancement of the reporting process by developing and updating actuarial assumptions and models. Maintains, documents, and supports results, approaches, and controls used to produce and monitor results.
- Performs US GAAP, Statutory and Tax valuation for all relevant business including but not limited to Variable Annuities and Variable Payout Annuities under VM-21 and Pension Risk Transfer business. Oversees the production of US Statutory reporting including but not limited to preparation of annual Asset Adequacy Testing memorandums, RBC C3 Phase 1 analysis, PBR with a primary focus on VM21 and corresponding VM-31 reports. Ensures these items and processes are appropriately documented and posted.
- Supports GFS Pricing in providing quality and timely guidance for setting US Statutory reserving
- Develops projections for financial planning and analysis and communicates the appropriate financial analytics, including a discussion of major drivers of variance.
- Provides oversight and direction to junior actuarial/financial associates in the department. May perform supervisory duties including, but not limited to, hiring, training, evaluating, coaching, and disciplining direct reports. Fosters a positive and engaged work environment. Mentors associates and gives guidance on associate development.
- Serves as a liaison with other lines of business and company functions/departments to promote improvement in valuation and financial analysis for assigned business
- Performs valuation work and ad-hoc department projects as needed and called upon.
Education and Experience
- Bachelor's degree in Math, Finance, Actuarial Sciences, Statistics, or related field
- FSA accreditation or equivalent
- 7+ years of actuarial experience in life insurance/reinsurance
- MAAA accreditation
- CFA, PRMIA PRM, GARP FRM, or other such financial risk management designation
- Prior management experience
- Experience with Prophet modeling software
- Stochastic modeling and/or asset liability management experience
- Familiarity with deferred and immediate annuities, including equity-indexed and/or variable annuities
- Familiarity with fixed income investments, understanding of asset modeling techniques and capital markets.
- Expert knowledge of local regulatory environments
- Reinsurance industry and/or merger and acquisition experience
- Understanding of pension and other longevity products
Skills and Abilities
- Advanced PC and technical skills, including database applications (Access, Oracle, SQL
or equivalent technology), spreadsheets, or statistical programs
- Ability to independently work with open actuarial software, including Prophet, MoSes, MG-ALFA, Algo FM, or equivalent
- Highly advanced ability to model various insurance products and reinsurance structures.
- Demonstrated knowledge of life insurance, longevity, institutional and/or annuity products
- Expert knowledge of GAAP, Statutory, and Tax valuation and financial reporting.
- Highly advanced people management skills, demonstrating the ability to lead, mentor, and develop associates; including the ability to delegate key areas of responsibility
- Highly advanced oral and written communication skills, demonstrating the ability to convey business terminology that is meaningful and well received by all stakeholders, including customers and associates.
- Highly advanced interpersonal skills, demonstrating the ability to work effectively with different disciplines, including pricing, investments, accounting, systems, and administration.
- Highly advanced project management skills. Demonstrates an ability to evaluate project
objectives and scope for feasibility and understanding.
- Highly advanced ability to translate business needs and problems into viable/accepted solutions
- Highly advanced ability to manage multiple projects and/or teams simultaneously
- Highly advanced ability to liaise with individuals across a wide variety of operational, functional, and technical disciplines
- Highly advanced persuasion and negotiation skills when working with internal/external customers
- Highly advanced analytical and problem-solving skills
- Ability to balance detail with departmental goals/objectives
- Ability to work independently and to work well within a team environment and participate in department projects.
- Prophet expertise in ALS and at least 1 one liability library with preferred expertise in at least one of the summary or US GAAP cohort libraries
RGA offers an array of benefits including flexible plans for medical, dental, and vision coverage; 401(k) plan with generous employer match; Life and Accidental Death and Dismemberment Insurance; Short-term and Long-term Disability coverage; Employee Assistance Program; Paid Time Off; and other benefits designed to provide the flexibility to choose a plan that meets your needs. Pay is based on a number of factors including local market, a candidate's skills, and experience commensurate with a role, etc. Colorado residents' salary range: $121,780 to $186,175 + Annual Bonus.
State of Colorado: This information is provided per the Colorado Equal Pay Act. The pay range for this position in Colorado is $125,435 to 191,760 per year. Base pay varies depending on job-related knowledge, skills, experience and market location. In addition, RGA compensation includes an annual bonus plan that includes all roles and maintains a full range of competitive health and life insurance, retirement and other employee benefits.