Reporting to the AVP & Actuary, Global Valuation, the Actuarial Associate will perform valuation reporting duties by developing /maintaining actuarial models for business planning and financial reporting.
In addition, the incumbent will support business-as-usual modelling for RGA's individual life and living benefit products to produce cash flow projection and balance sheet entries for financial reporting, planning and regulatory requirements.
Finally, the Actuarial Associate will assist in the implementation of valuation model improvements in the end-to-end valuation process with a focus on process efficiency and long-term sustainability.
- Develop, maintain and review actuarial models in Prophet and other relevant applications, including setting up and maintaining appropriate assumptions.
- Put together the relevant testing to ensure consistency following the Prophet model development
- Model best estimate assumptions as well as new business, both in terms of new administration rates and assumptions as required
- Perform valuation work, ad-hoc department projects as well as any supplemental assistance as needed and called upon
- Assist in the monthly valuation results production and reporting (US GAAP and MOS) as well as other reporting processes such as Plan, PBI and US STAT
- Provide support on reviews of actuarial software and valuation reporting processes
- Produce and maintain quality documentation to facilitate and coordinate sharing of information with other functions and local offices within RGA
- Understand RGA's current processes, how they interrelate, and relate this information to others in a clear and concise manner
Education and Experience
- Bachelor's degree in Math, Finance, Statistics, Actuarial Science, or a related field
- ASA accreditation and actively writing actuarial exams towards FSA designation
- 3+ years of actuarial experience in life insurance
- Master's degree in Math, Finance, Actuarial Sciences, Statistics or related field
•Experience in valuation or pricing for traditional life business
Skills and Abilities
- Prophet proficiency is an important asset
- Strong computer skills (Excel, VBA, SQL, Word, Access, Outlook) and technical skills, including database applications, spreadsheets, statistical programs and actuarial software knowledge of valuation methodologies commonly used by insurance companies
- Able to perform the following:
oWork well within a team environment, participate in department/team projects and balance detail with departmental objectives
oQuickly adapt to new methods and work under tight deadlines
oManage multiple projects simultaneously across physical locations
oLiaise with individuals across a wide variety of operational, functional, and technical disciplines
- Advanced level of investigative, analytical and problem solving skills, supplemented by a willingness to advance their ability to model various insurance products and reinsurance structures
- Advanced oral and written communication skills, demonstrating the ability to convey business terminology that is meaningful and well received
- Understanding of liability modeling techniques
- Reinsurance industry and product knowledge
Reinsurance Group of America, Incorporated (NYSE: RGA) is a leader in the global life reinsurance industry with approximately $2.9 trillion of life reinsurance in force and assets of $44.7 billion. We are one of the largest life reinsurance companies in the world.