Reporting to the VP and Actuary, the Actuary, Longevity Pricing will be working closely with the Global Financial Solutions (GFS) business unit on the pricing modeling functions for the Canadian longevity operations of RGA. As part of a creative and dynamic team, the employee will be exposed to a variety of insurance products and asked occasionally to contribute to projects in various other areas that will capitalize on his/her creative and analytic mindset.
- Perform pricing, modeling and risk analysis activities for longevity quotes.
- Model new business and inforce quotes. Understand client quote information and data, terms and transaction structure to properly model risks implied. Ensure all important risks have been assessed and modelled.
- Prepare documentation in detailed pricing summary reports.
- Act as a pricing contact for certain clients.
- Assist Research and Development team for mortality and mortality improvement studies.
- Assist in developing the pricing basis. Adapt pricing basis into suitable actuarial assumptions for quotes.
- Participate in technical and/or peer review work. Provide technical support to other members of the team.
- Maintain up to date knowledge of Canadian pension/longevity products and related pension and insurance regulations.
- Apply RGA pricing guidelines and best practices. Follow risk measures and controls in place to adhere to pricing standards.
- Review treaty language.
- Assist Finance, Administration and Risk Management functions as needed for inforce management (e.g., data updates, premium adjustments, collateral calculations, profitability review).
- Perform projections for Plan purposes.
- Participate in key unit and ad-hoc department projects as needed (e.g., developing new solutions adapted to new capital and accounting standards).
- Occasionally contribute to projects related to other lines of business of RGA Canada.
- Bachelor's degree in Math, Finance, Statistics, Actuarial Science, Computer Science or related field
- 8+ years of actuarial experience
- FSA designation from the Society of Actuaries or equivalent work-related experience
- Strong computer skills in Excel, VBA, SQL, Word, Access, Outlook. Experience with actuarial modelling software like AXIS or Prophet
- Knowledge of life insurance, longevity, and/or annuity products
- Pension plan experience
- Expertise in AXIS
- Bilingual French and English communication (spoken and written)
- Demonstrated knowledge of longevity risk pricing, and/or annuity products
- Demonstrated knowledge of assumptions setting in the longevity space
- Excellent interpersonal and communication skills
- Solid technical, analytical and problem-solving skills
- Sense of organization, detail orientated, with ability to quickly learn and apply new concepts
- Great proficiency with computer software and ability to resolve problems
- Results orientation and ability to focus on meeting deadlines
- Good team spirit and ability to liaise with individuals across a wide variety of operational, functional, and technical disciplines
- Ability to work simultaneously on different projects and with tight deadlines
Reinsurance Group of America, Incorporated (NYSE: RGA ) is one of the largest global life and health reinsurance companies. With headquarters in St. Louis, Missouri, RGA supports clients and partners around the world through innovative approaches and customized solutions.
- We are the only global reinsurance company to focus primarily on life- and health-related reinsurance solutions.
- Our core products and services include life reinsurance, living benefits reinsurance, group reinsurance, health reinsurance, financial solutions, facultative underwriting, and product development.
- RGA ranks #222 on the 2022 Fortune 500 list. The list ranks U.S.-based companies by total revenue.
- As of December 31, 2021, RGA had approximately $3.5 trillion of life reinsurance in force and assets of$92.2 billion.
Global Financial Solutions' Longevity line of business is both new and one of RGA's fastest growing lines of business with benefit obligations in excess of $50 billion USD. Global Financial Solutions (GFS) accounts for over 50% of RGA's consolidated income.
RGA's culture stresses high performance and collaboration, and the company hires the smartest people in the industry. And, the smart people they hire are not just number crunchers. RGA values creativity and curiosity. RGA also values humility, and its employees work together without ego to bring value to RGA while revolutionizing the life and health insurance space.
Visit our internet site, www.rgare.com , to find out more about us.