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Associate Actuary

Position Overview

Performs valuation/financial reporting and analysis and project assistance. Contributes to the maintenance and enhancement of the financial forecasting infrastructure and analytic foundation across the segment by developing and maintaining actuarial assumptions, methods, models and processes used not only for valuation, but also to support unbiased planning, reporting, economic capital refinement, embedded value calculation, capital planning, and other such uses.

Responsibilities

  • Researches, develops, maintains, and/or reviews actuarial assumptions, methods and models. Provides internal guidance and documentation
  • Performs detailed Statutory, Tax, and GAAP valuation work for assigned business, ensures these items are appropriately documented and posted, and assists with identifying changing requirements and adapting to maintain compliance.
  • Develops unbiased projections for financial planning and analysis and assists with communication of financial analytics and results in terms of major drivers of variance.
  • Serves as a liaison with other valuation, pricing, administration, systems, accounting, audit, and finance associates.
  • Provides oversight and direction to junior actuarial/financial associates in the department. If assigned performs 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.
  • Performs valuation work and ad-hoc department projects as needed and called upon.



Requirements

Education & Experience

Required:

  • Bachelor's degree in Math, Finance, Actuarial Sciences, Statistics or related field
  • FSA accreditation with 6+ years of actuarial experience in life insurance/reinsurance;


Preferred:

  • MAAA accreditation
  • 3+ years actuarial experience in life insurance/reinsurance valuation and/or financial reporting (GAAP, Statutory, and Tax)


Skills & Abilities

Required:

  • Advanced PC and technical skills, including database applications (Access, Oracle, SQL
    or equivalent technology), spreadsheets, statistical programs and actuarial software (MoSes, TAS, AXIS, or equivalent).
  • Advanced project management skills. Demonstrates an ability to evaluate project
    objectives and scope for feasibility and understanding.
  • Advanced ability to model various insurance products and reinsurance structures.
  • Expert knowledge of life, health, and/or annuity products.
  • Advanced knowledge of GAAP, Statutory, and Tax valuation and financial reporting.
  • Ability to work independently and to work well within a team environment, participate in department/team projects and balance detail with departmental objectives
  • Advanced people management skills, demonstrating the ability to lead, mentor, and develop associates; including the ability to delegate key areas of responsibility
  • 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
  • Advanced investigative, analytical and problem solving skills
  • Advanced ability to manage multiple projects and/or teams simultaneously
  • Advanced ability to liaise with individuals across a wide variety of operational, functional and technical disciplines
  • Advanced ability to translate business needs and problems into viable/accepted solutions
  • Advanced skills in customer relationship management and change management
  • Ability to resolve conflict and foster teamwork
  • Broad business knowledge
  • Advanced persuasion and negotiating skills when working with internal/external customers


Preferred:

  • Expert in MoSes, TAS, and/or AXIS (or equivalent actuarial software).
  • Advanced knowledge of key financial reporting, accounting, and solvency regimes, including (but not limited to): US GAAP, US Statutory, and US tax; IFRS; MCEV / EV / EEV; LICAT; and Solvency II.
  • Knowledge of PolySystems, ArcVal, or other Valuation programs.
  • Reinsurance industry and product knowledge.



Company Overview

Founded in 1973, 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.

  • 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 #222 on the 2022 Fortune 500 list. The list ranks U.S.-based companies by total revenue.
  • As of December 31, 2021, RGA had approximately $3.5 trillion of life reinsurance in force and assets of$92.2 billion.



To learn more about RGA and its businesses, visit the company's website at www.rgare.com .

Our mission is to enhance our clients' prosperity by supporting their financial and risk management capabilities

At RGA, we also believe that environmental and social responsibility is central to our business strategy. This means operating with integrity, investing responsibly, and adhering to sound corporate governance principles. R GA and the RGA Foundation are focused on advancing the education, health, and longevity of people in the communities in which we operate. Every day, RGA seeks to foster values of inclusion and integrity, charitable giving and volunteerism, and sustainable and environmentally responsible business practices around the world.

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 the talent we are seeking to join RGA.

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Associate Actuary

Toronto, Canada
Full time

Published on 10/09/2022

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