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 an Associate Actuary, Valuation to join our team.
The Associate Actuary will be a strong contributor 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, and Longevity Swaps.
While the focus is on US GAAP reporting and planning, the role also includes production and analysis of other important metrics, including US Statutory reserves, Tax, Solvency II, ORSA, Cash Flow Testing, Economic Capital, and Embedded Value.
- Contributes to the ongoing enhancement of the reporting processes by developing and updating actuarial assumptions and models. Maintains, documents, and supports results, approaches, and controls used to produce and monitor results.
- Performs US GAAP, Statutory and Tax valuation for assigned GFS business. Ensures these items are appropriately documented and prepared.
- Develops projections for financial planning and analysis and investigates major drivers of variance
- Performs valuation work and ad-hoc department projects as needed and called upon
Education and Experience
- Bachelor's degree in Math, Finance, Actuarial Sciences, Statistics, Computer Science, or related field
- FSA accreditation or equivalent
- Or ASA accreditation with 10+ years of actuarial experience in life insurance/reinsurance
- Or ASA accreditation with advanced quantitative degree
- 6+ years of actuarial experience in life insurance/reinsurance
- MAAA accreditation
- CFA, PRMIA PRM, GARP FRM, or other such financial risk management designation
- 3+ years actuarial experience in life insurance/reinsurance valuation and/or financial reporting (GAAP, Statutory, and Tax)
- Product development, stochastic modeling, and/or asset liability management experience
- Familiarity with deferred and immediate annuities, including equity-indexed and/or variable annuities
- Familiarity with fixed income investments, understanding of asset modeling techniques and capital markets
- Understanding of pension and other longevity products
- Knowledge of local regulatory environments
- Reinsurance industry and/or merger and acquisition experience
- Prior management experience
Skills and Abilities
- Advanced PC and technical skills, including database applications (Access, Oracle, SQL, or equivalent technology), spreadsheets, statistical programs, and actuarial software (TAS, AXIS, Prophet, or equivalent).
- Ability to model various insurance products and reinsurance structures
- Excellent understanding of life insurance financial metrics and analysis techniques
- Demonstrated knowledge of life insurance, longevity, institutional and/or annuity products
- Knowledge of GAAP, Statutory, and Tax valuation and financial reporting
- 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, 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
- Prophet expertise in ALS and at least one liability library with preferred expertise in at least one of the summary, US GAAP cohort, or US 360 libraries
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 $105,950 to $161,995 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.