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Actuary, Non-Traditional Valuation

Position Overview

The Actuary will be a leader within a high performing group that performs financial reporting and analysis for a wide range of US and International products underlying RGA's Non-Traditional reinsurance treaties primarily focused on RGA's Global Financial Solutions (GFS) business segment. Products include Variable and Fixed annuities, Fixed Index Annuities, SPIAs, Pension Risk Transfer, and Longevity Swaps.

The focus of this position is on production and analysis of RGA's Pension Risk Transfer business. Additional responsibilities of the role may include contributing to the production and analysis of US Statutory, US GAAP, US Tax, Solvency II, ORSA, Economic Capital, Embedded Value, plan, and management analysis requests.

Communication with key executives at RGA along with maintaining excellent relationships with the Legal Entity, Corporate, Finance, and GFS Pricing & Risk Management teams are components of the role.

Direct issue and/or reinsurance products include:

  • Accumulation Annuity products such as RILA, Variable Annuities, Indexed Annuities, Fixed Annuities
  • Longevity Annuity products such as Pension Risk Transfer (PRT), SPIAs, DIAs, QLACs, Longevity Swaps
  • Institutional products such as BOLI, COLI, Stable Value Wraps, GICs
  • Life Protection products such as Whole Life, Endowments, Universal Life, Variable Life, Secondary Guarantee (ULSG)
  • Medical Coverage products such as LTC, Disability, Hospitalization, Surgery, Cancer



Responsibilities

  • Performs US GAAP, US Statutory and US Tax valuation for life and annuity reinsurance and direct business
  • Collaborate with Pricing and Corporate Partners on new transactions
  • Drive policy decisions, including negotiating with and influencing stakeholders
  • Develops, maintains, and/or reviews actuarial models in Prophet and other applications, including setting up and maintaining appropriate assumptions
  • Develops actuarial models
  • Identifies, implements, and enhances governance and control infrastructure
  • Develops experience studies and makes recommendations on updating actuarial assumptions
  • Maintains and enhances documentation
  • Develops projections for financial planning and analysis and investigates major drivers of variance
  • Provides oversight and direction to junior actuarial/financial associates in the department. May perform supervisory duties including, but not limited to, hiring, training, evaluating, coaching, and disciplining direct reports. Fosters a positive and engaged work environment. Mentors associates and gives guidance on associate development.
  • Serves as a liaison with other lines of business and company functions/departments to promote improvement in valuation and financial analysis for assigned business
  • Performs valuation work and ad-hoc department projects as needed and called upon
  • Remains current in profession and industry trends



Requirements

Education and Experience

Required:

  • FSA accreditation or equivalent
  • 7+ years of actuarial experience in life insurance/reinsurance
  • PC and technical skills, including database applications (Access, Oracle, SQL, or equivalent), spreadsheets, statistical programs, and actuarial software (AXIS, Prophet, or equivalent)
  • Advanced understanding of local reporting and regulatory environments
  • Advanced understanding of insurance financial metrics and analysis techniques


Preferred:

  • MAAA accreditation
  • Management experience
  • Bachelor's degree in Math, Finance, Computer Science, or related field
  • Prophet modeling experience in ALS, US 360, US NA, GAAP, and/or cohort libraries
  • Working knowledge of Principles Based Reporting, Risk Based Capital, or Valuation Manual
  • Prior experience on PBR reporting, model design, policy, or related activities
  • Prior experience on VM-20, AG-30, AG-38, AG-48, or similar US STAT life valuation guidelines
  • Prior experience on VM-21, VM-22, AG-33, AG-35, AG-43, or similar US STAT annuity valuation guidelines
  • Prior experience on VM-30, VM-31, CFT, AAT, RBC, C3 Phase 1, C3 Phase 2, or similar US STAT guidelines
  • Familiarity with GAAP, Statutory, and Tax valuation and financial reporting
  • Familiarity with traditional life insurance products, such as Whole Life, Term, Universal Life
  • Familiarity with deferred and/or immediate annuities, including indexed or variable annuities
  • Familiarity with fixed income investments, asset modeling techniques, and capital markets
  • Familiarity with pension and other longevity products
  • Product development, stochastic modeling, and/or asset liability management experience
  • Reinsurance industry, structuring, or merger and acquisition experience
  • Advanced communication skills, demonstrating the ability to convey business terminology that is meaningful and well received by all stakeholders, including customers and associates
  • Advanced interpersonal skills, demonstrating the ability to work effectively with different disciplines, including pricing, investments, accounting, systems, and administration
  • Ability to manage multiple projects simultaneously
  • Advanced analytical and problem-solving skills
  • Ability to balance detail with departmental goals/objectives
  • Ability to work independently and to work well within a team environment and participate in department projects



Company Overview

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 $125,435 to $191,760 per year. Base pay varies depending on job-related knowledge, skills, experience and market location.

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Actuary, Non-Traditional Valuation

Chesterfield, United States
Full time

Published on 29/09/2022

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