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Assistant Actuary, Non-Traditional Valuation

Position Overview

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.

An Assistant Actuary, Non-Traditional Valuation is a strong contributor within a high performing group focused on projection production, model maintenance, and corporate initiative management for a wide range of US and International products underlying RGA's Non-Traditional reinsurance treaties. Products include Variable and Fixed annuities, Fixed Index Annuities, SPIAs, and Longevity Swaps.

In addition to standard GAAP and stat reporting, RGA also has several corporate initiatives including Plan/Budget, Embedded Value, Solvency II, ORSA, and Economic Capital. This role will focus on the results production for those initiatives, data management, validation, and assist with projection model maintenance and continuous improvements.

The role contributes to RGA's accurate reporting of these important initiatives, and the successful candidate will gain a significant amount of knowledge of RGA's non-traditional business and models.

Responsibilities

  • Leads the production of results for corporate initiatives
  • Leads the production of quarterly re-projections/re-forecasting for non-traditional business
  • Oversees the translations and transformations of raw model results into financials
  • Gains deep understanding of the methodologies behind the corporate initiatives
  • Validates results and ensures comprehensiveness and accuracy
  • Assists with development, maintenance, and/or reviews Prophet projection models
  • Assists with troubleshooting and answering questions related to projection results, model characteristics and capabilities, and behavior
  • Assists with continuous improvement and automation of translations and transformation logic for accurate reporting
  • Performs valuation work and ad-hoc department projects as needed and called upon, including GAAP and stat financial reporting, experience studies, automation, and analytics



Requirements

Education and Experience

Required:

  • Bachelor's degree in Math, Finance, Actuarial Sciences, Statistics or related field
  • ASA accreditation
  • 3+ years actuarial experience in life insurance/reinsurance valuation and/or financial reporting (GAAP, Statutory, and Tax)


Preferred:

  • Willingness to pursue FSA designation
  • Life insurance/reinsurance industry and product knowledge, including deferred and immediate annuities, including equity-indexed and/or variable annuities, universal life, and/or pension business
  • Actuarial modeling experience in open software such as Prophet, MoSes, MG-ALFA, etc.
  • Experience in stochastic and/or financial/asset modeling and/or asset liability management
  • Experience with corporate/holistic models


Skills and Abilities

Required:

  • Intermediate PC and technical skills, including database applications (Access, Oracle, SQL
    or equivalent technology), spreadsheets, or statistical programs
  • Ability to multi-task and meet tight deadlines
  • Ability to balance detail with departmental goals/objectives
  • Advanced oral and written 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, finance, accounting, systems, and administration.
  • Competent project management skills; demonstrates an ability to evaluate project objectives and scope to plan for effort/resource levels required and time-to-completion
  • Complex analytical and problem-solving skills
  • Intermediate understanding of life insurance, longevity, institutional and/or annuity products
  • Intermediate knowledge of GAAP, Statutory, and/or Tax valuation and financial reporting
  • Ability to work independently and to work well within a team environment and participate in department projects


Preferred:

  • Knowledge of Prophet actuarial software with experience working with its output
  • Knowledge of reinsurance types including YRT, Coinsurance, Modified Coinsurance, and Funds Withheld
  • Intermediate understanding of US regulatory and US GAAP accounting standards
  • Knowledge of US GAAP Long Duration Targeted Improvements



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 $80,380 to $ 121,345 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.

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Assistant Actuary, Non-Traditional Valuation

Chesterfield, United States
Full time

Published on 07/04/2022

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