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Appointed Actuary

Position Overview

  • Provide leadership to the Korea Valuation Team to achieve defined outcomes in a timely basis
  • Establish effective communication with the businesses to provide the local management team with the information they need to comply with the local regulation.
  • Ensure the valuation activities including assumptions and modelling are adequately maintained and meet internal and external reporting requirements.
  • Development, maintenance and continued refinement/improvement of tools and processes for the team.
  • Keep track of any regulation change and update, and educate the Valuation Team to perform accurate local statutory reporting.



Responsibilities

  • Oversee the Korea Valuation Team and be responsible for all aspects of valuation including the development of appropriate reporting bases and actuarial models to deliver results required for regulatory reporting including IFRS 17 and K-CIS.
  • Fulfill the duties of the 'Appointed Actuary' as defined in Korean regulations for independent sign-off of local reporting including the year end IFRS 17 actuarial memorandum.
  • Provide the Korea Valuation Team with insight and recommendation based on expertise in insurance products in Korea for US Statutory, Tax and GAAP reporting as well as embedded value, principles-based Economic Capital, and ORSA.
  • Perform experience studies and actuarial analysis on current inforce business to support valuation assumption setting and business planning. This includes an annual review of best estimate assumptions for use in IFRS 17, KICS, LDTI, EV and principles-based Economic Capital, and following applicable corporate guidance.
  • Coordinate with Finance to support quarterly IFRS 17 CSM movement analysis, K-ICS insurance risk calculation and reporting.
  • Monitor the KICS Capital Requirement of the Korean branch, including maintenance of processes to deliver robust monitoring of capital and solvency positions on an ongoing basis.
  • Maintain comprehensive documentation relating to the actuarial processes.
  • Monitor proactively regulatory developments and changes, and advise local management of the implications and business impact.
  • Supporting the Regional Head of Valuation, Asia on other initiatives, as required.



Requirements

  • Fully qualified Korean Fellow (FIA-K)
  • Fully qualified Fellow with one of the recognized international actuarial associations (FSA, FIA, FFA, FIAA, etc.).
  • At least 10 years' relevant experience.
  • At least 5 years' people management experience.
  • Familiarity with the Korean market and regulatory environment, US GAAP valuation and/or IFRS 17 and K-ICS.
  • Knowledge of the Prophet or AXIS projection systems.
  • Proven people leadership credentials with the ability to motivate, mentor and create a high performing team.
  • Strong analytical, data management skills, work attitudes to details and ability to manage multiple projects simultaneously.
  • A high level of personal accountability and integrity.
  • Excellent communication skills in English - both written and verbal.



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.

Appointed Actuary

Seoul, Südkorea
Full time

Published on 27/09/2022

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