Actuary, Model Governance and Operation Risk Analytics

Position Overview

A member of Enterprise Risk Analytics team, the Actuary, Model Governance and Operational Risk Analyticscontributes to the implementation of an effective global model risk programs and provide second line oversight to identify, measure, and monitor model risk.

This role is also expected to develop and implement MRM framework for RGA entities per entity specific regulatory requirements.

Other than Model Risk framework as the primary focus, this role will also contribute to the quantification of model risk for RGA enterprise.

Responsibilities

• Implement the global Model Risk Management (MRM) framework and MRM strategy. Collaborates with key stakeholders on framework update and guidance for continuous improvement to align with evolving global regulations.
• Develop and implement entity specific MRM framework as required by emerging regulatory requirements.
• Executes all activities related to model risk oversight to monitor the use of models at RGA supported by the model risk policy and assessment plan.
• Conduct model validation and perform model risk assessment in accordance to the MRM policy, working in collaboration with functional associates. Support the evaluation, monitoring, and reporting of overall model risk exposure for RGA, identify trend and mitigation opportunities.
• Collaborate with Operational Risk committee to support the operational risk quantification methodology and process, including related socialization to ensure the methods are understood and used appropriately.
• Mentors junior associates within the department. May performs supervisory duties including, but not limited to: hiring, training, evaluating, coaching, and disciplining of direct reports.
• Maintains regular and predictable attendance.
• Performs other duties as required.

Requirements

Education, Experience, Skills & Abilities

• Bachelor's degree in Math, Finance, Actuarial Sciences, Statistics or related field
• FSA accreditation
• 7+ years of insurance/reinsurance experience
• 5+ years of project and/or people management experience
• 5+ years of experience in actuarial modeling and risk management
• Demonstrated ability to develop and/or lead a global risk management program
• Highly advanced ability to translate business needs and problems into viable/accepted solutions
• Highly advanced investigative, analytical and problem-solving skills. Identifies and resolves technical, operational and organizational problems.
• Expert ability to balance detail with departmental goals/objectives
• Expert ability to make timely and effective decisions and produce results through strategic planning and the implementation and evaluation of programs and policies.
• Advanced project management skills. Demonstrates ability to evaluate project objectives and scope feasibility, gain understanding, schedule resources, and manage budget to plan.
• Highly advanced oral and written communication skills, demonstrating the ability to convey business terminology that is meaningful and well received
• Advanced skills in relationship management and change management
• 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
• Guides, influences and persuades others

Preferred:

• MAAA accreditation or equivalent
• Master's degree in Math, statistics, Data Science, Risk Management or Finance
• Experience with model validation and risk assessment
• Familiarity with Artificial Intelligence models and predictive models
• 7+ years of actuarial modeling experience
• 5+ years of model risk governance experience
• Knowledge of actuarial software (Prophet, AXIS) and reinsurance valuation systems and process
• Reinsurance industry and product knowledge
• Knowledge in actuarial software

Company Overview

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.

Founded in 1973, RGA celebrated its 50th anniversary in 2023.

• 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 #257 on the 2024 Fortune 500 list. The list ranks U.S.-based companies by total revenue.
• RGA has been named to Fortune magazine's 2023 and 2024 lists of the World's Most Admired Companies.
• RGA in Canada has been selected as one of Greater Toronto's Top Employers for 2024
• RGA has approximately $3.5 trillion of life reinsurance in force and assets of $87.4 billion as of September 30, 2023.

RGA aims to evolve RGA workplaces and the communities in which RGA has a presence, into more diverse, equitable and inclusive environments. We will create a culture where individuals are valued, feel a sense of belonging, and are respected for their differences - a workplace where all employees are encouraged and supported to reach their full potential.

Our individual, social, economic, and cultural identities shape and influence our experiences and perspectives. Therefore, to do our best work RGA will ensure diversity in our workforce across the various dimensions of social, interpersonal, and cultural identity - and by practicing inclusivity in how we work with one another. Inclusion in our workplace is a step towards our purpose of making financial protection accessible to all .

Flexible Working Environment

RGA supports hybrid and flexible ways of working and would welcome a discussion on how it can balance what is important to you with business requirements during the recruitment process.

Visit our Annual Review site, https://rgaannualreview.com , to find out more about us.

RGA offers a comprehensive total rewards package including a range benefits and flexible plans. The pay range for this position is $132,430 - $202,455 per year in addition to an annual bonus. Base pay varies depending on job-related knowledge, skills, experience and market location.

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