Assistant Actuary, Pension Risk Transfer Pricing - GFS
Position Overview
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 Assistant Actuary, Pension Risk Transfer Pricing professional to join our team. The Assistant Actuary, Pension Risk Transfer Pricing position performs pricing, modeling, risk analysis, 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. This position collaborates and coordinates with multiple internal stakeholders and corporate partners to meet and exceed PRT business objectives.
This role is open to candidates based St Louis, Toronto and Remote locations.
Responsibilities
• Perform pricing, modeling, analysis, and structuring activities on new or proposed PRT transactions in a timely manner consistent with applicable standards.
• Execute assumption studies, including processing of raw data, comparison of experience to assumptions, interpreting results, and providing recommendations for pricing.
• 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.
• Collaborate and coordinate with multiple internal stakeholders such as Investments, Valuation, Finance, Administration, Risk Management, Legal, and other Corporate teams on approvals, assumptions, pricing processes, exceptions, and document drafting
• Update documentation of 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.
• Perform technical reviews as assigned.
Requirements
• Bachelor's degree in Actuarial Science, Mathematics, Finance, Statistics, Computer Science, or related field.
• ASA accreditation, progress towards FSA designation.
• 3+ years Actuarial Experience in pension consulting, life insurance/reinsurance, health, and/or annuity products.
• Demonstrated understanding of key insurance-related concepts, including life and annuity products, reinsurance contracts, and basic GAAP, Statutory, and tax accounting principles.
• Advanced PC and technical skills, including database applications, spreadsheets, statistical programs and actuarial software (AXIS, Prophet, MG-ALFA or equivalent).
• Ability to quickly adapt to new methods, work under tight deadlines and stressful conditions.
• Advanced oral and written communication skills, demonstrating the ability to convey business terminology that is meaningful and well received by all stakeholders.
• Competent project management skills. Demonstrates an ability to evaluate project objectives and scope for feasibility and understanding.
• Advanced investigative, analytical and problem solving skills.
• Advanced interpersonal skills, demonstrating the ability to work effectively with different disciplines.
• Broad business knowledge.
Preferred:
• Knowledge of the US PRT market, defined benefit plans, retirement products, regulations, and business models.
• Advanced understanding of longevity and/or annuity products.
• Understanding of asset modeling and ALM techniques, including derivatives, and capital markets approaches.
• Ability to challenge and enhance our analytical capabilities.
• Experience with AXIS and/or Prophet (or equivalent actuarial software).
• Advanced understanding of key financial reporting, accounting, and solvency regimes: US GAAP, US Statutory, US tax and RBC.
• 3+ years actuarial experience in pricing of PRT and/or insurance products.
• Experience performing actuarial calculations for retirement benefits.
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 an array of benefits, including flexible plans.
Pay is based on a number of factors, including market, a candidate's skills, and experience commensurate with a role, etc. salary range: $93,330 - $143,500 + bonus.