More than anything, RGA employees love their jobs because it's challenging work. We believe smart people work smarter when they're empowered. When they use logic, balanced with creativity and curiosity. At the forefront of RGA's culture is collaboration - a must to be successful within our organization. These are just a few of the attributes we are looking for in this Actuary, Pension Risk Transfer Pricing professional to join our team.
The Actuary, Pension Risk Transfer Pricing position performs pricing, modeling, risk analysis, underwriting, and other activities related to specific new business development and transaction opportunities for the Pension Risk Transfer (PRT) business in Global Financial Solutions (GFS) business unit of RGA. Partners with business development to determine client needs and objectives, understand and analyze client information, and design terms and structures of transactions to meet those needs and objectives. Collaborate and coordinate with multiple internal stakeholders and corporate partners to meet and exceed PRT business objectives.
- Perform pricing, modeling, analysis, and structuring activities on new or proposed PRT transactions in a timely manner consistent with applicable standards.
- Set realistic and achievable deadlines for modeling, risk analysis, and other new business development activities.
- Provide updates on ongoing progress to supervisor, other Global Financial Solutions personnel, and senior management.
- Assess and analyze risk exposure in potential transactions, develop solutions or mitigation techniques for the same, and prepare documentation of these risks in detailed risk analysis reports.
- Work in partnership with Business Development to determine client needs and objectives, understand and analyze client information, and design terms and structures of transactions to meet those needs and objectives.
- Supervise, review, and provide feedback, in a timely manner, the work - including data, assumptions, modeling, sensitivity testing, and documentation - of other actuaries as appropriate and as needed, and specifically on projects in the relevant area of responsibility.
- Collaborate and coordinate with multiple internal stakeholders such as Legal, Administration, Risk Management, Investments, Valuation, Finance, and other Corporate teams on approvals, assumptions, pricing processes, exceptions, and document drafting
- Ensure that work products comply with relevant ASOPs.
- Update documentation of Global Financial Solutions pricing methodology, parameters, and procedures as it relates to PRT business. Recommend, implement, and document enhancements to the pricing process.
- Assist Risk Management personnel with transition of new contracts and monitoring experience of in-force business.
- Participate in key unit and ad-hoc department projects, as needed.
Education and Experience
- Bachelor's degree in Mathematics, Finance, Statistics, Actuarial Science, Computer Science, or related field
- FSA Certification
- 7+ years Actuarial Experience in life/annuity insurance
- PRT pricing experience
- Advanced quantitative degree or designation
- Product design / pricing experience OR ALM / risk management experience
- Enrolled Actuary (EA) designation
Skills and Abilities
- Advanced knowledge of the US PRT market, defined benefit plans, retirement products, regulations, and business models
- Ability to take ownership in projects and drive them to completion
- Experience with actuarial modeling software.
- Highly advanced oral and written communication skills, demonstrating the ability to convey business terminology that is meaningful and well received
- Highly advanced investigative, analytical, and problem-solving skills
- Expert ability to balance detail with departmental goals/objectives
- Advanced skills in customer relationship management and change management
- 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
- Exceptional ability to lead, mentor, and develop associates; including the ability to delegate key areas of responsibility
- Advanced ability to work well within and manage a team
- Advanced knowledge of key financial reporting, accounting, and solvency regimes: US GAAP, US Statutory, US tax and RBC.
- Advanced knowledge of life insurance, health insurance, longevity, and/or annuity products
- Expertise in AXIS and/or Prophet
- Ability to challenge and enhance our analytical capabilities
- Understanding of asset modeling and ALM techniques, including derivatives, and capital markets approaches
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.
State of Colorado: This information is provided per the Colorado Equal Pay Act. The pay range for this position in Colorado is $129,200 to $197,515 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.