The Vice President and Managing Actuary - USMM Inforce Management position leads, manages and directs strategic priorities for USMM inforce. USMM Inforce Management provides the leadership and coordination with many areas within USMM and RGA to develop insights, create best practices and drive for results and profitability for the business. Utilizes leadership skills and challenges conventional thinking to solve complex inforce problems. Presents key findings and expert analysis to key stakeholders including internal executives and other functions, as well as clients. Creates industry thought leadership and presence.
- Challenge conventional practice to drive new insights from inforce information.
- Lead key strategic initiatives around inforce management and participate in strategy development.
- Identify and lead projects to improve USMM inforce using data driven techniques
- Develop and drive best practices for providing management insights. Communicate the analyses and insights to senior management and other key stakeholders.
- Lead active engagement with RGA Investments and ALM teams to drive investment strategy and asset insights.
- Drive new insights into action through clear communication and leadership.
- Lead and develop an expert and forward-thinking team.
- Key involvement with GAIM team and USMM Chief Actuary on inforce projects.
- Lead the review and USMM recommendation/approval of results of the financial plan to USMM leadership
o Collaboration with Experience Study and Analytics Team, Valuation, Corporate Modeling, etc. to improve plan data availability and insights
o Work with assumptions team to ensure results are consistent with expectations
o Provide regional results and insights to necessary stakeholders
- Determines future financial impact of client inforce requests and in conjunction with Operations and Legal, determines approval for request
- Provides risk management oversight for USMM working closely with the Chief Risk Officer.
- Cultivate RGA's image as a leader in inforce insights. Provide expert leadership on projects on current and emerging topics of interest to RGA or clients. Present work products through various outlets including internal meetings, client visits, industry meetings, and internal or external publications.
- Foster and energize positive collaboration with key stakeholders, such as experience studies and analytics, pricing, business development, underwriting, new business initiatives, global analytics and inforce management, RGAx, external clients, etc. Manage the requests around inforce management.
- Performs management duties including, but not limited to: hiring, training, evaluating, coaching, guiding, mentoring and disciplining direct reports. Fosters a positive and engaged work environment. Mentors associates and gives guidance on associate development
- Serves as leader and participates in special projects, committees, meetings and client presentations as required.
Education and Experience
- Bachelor's Degree in Mathematics, Actuarial Science, Statistics, Business or related degree or equivalent related work experience
- 15+ years of actuarial experience in life insurance and/or reinsurance
- Fellowship, Society of Actuaries (FSA)
- 3 years management experience
- Pricing or product development experience
- Member, American Academy of Actuaries (MAAA)
- 7+ years reinsurance experience
- 5+ years management experience
Skills and Abilities
- Highly advanced actuarial technical skills
- Intermediate PC skills and advanced understanding of actuarial systems - including spreadsheet, database, and actuarial projection tools (AXIS, Prophet, etc.)
- Expert knowledge of life insurance products
- Highly advanced understanding of reinsurance concepts and methods
- Advanced ability to model various insurance products and reinsurance structures
- Highly advanced ability to challenge and enhance analytical capabilities
- Intermediate to advanced understanding of GAAP, statutory and tax accounting and reporting
- Expert ability in implementing change within an organization, ensuring understanding, participation, and ownership.
- Expert ability to translate business needs and problems into viable/accepted solutions
- Expert 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 including presentation skills, demonstrating the ability to convey information in a way that is meaningful and well received by stakeholders and team members.
- Highly advanced ability to adapt new methods; work under tight deadlines and stressful conditions.
- Expert skills in managing multiple projects and/or sub-teams simultaneously
- Highly advanced ability to make timely and effective decisions and produce results through strategic planning and the implementation and evaluation of programs and policies.
- Highly advanced ability to implement organizational, divisional and/or departmental vision and goals that result in achievement and success through exceptional leadership skills, collaboration, creative thinking, maintaining focus, and persistence, even under adversity, while maintaining the confidence of associates and customers.
- Expert ability to work well within and manage a team.
- Expert ability to foster a teamwork and customer service focused environment.
- Expert ability to liaise with individuals across a wide variety of operational, functional and technical disciplines
- Expert persuasion and negotiation skills when working with internal/external customers to resolve issues/problems
- Must be able to travel as required.
- Advanced knowledge of inforce management techniques
- Advanced knowledge of actuarial modeling of inforce blocks
- Familiarity with database applications.
- Advanced life insurance and/or reinsurance industry and product knowledge.
- Advanced statistical expertise
Reinsurance Group of America, Incorporated (NYSE: RGA) is one of the largest global providers of life reinsurance, with offices around the world. RGA delivers expert solutions in individual life reinsurance, individual living benefits reinsurance, group reinsurance, financial solutions, facultative underwriting and product development. Our mission is to enhance our clients' prosperity by supporting their financial and risk management capabilities.