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Associate Actuary, Pricing, Global Financial Solutions

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 an Actuary, Pricing - GFS to join our team.

The Associate Actuary, Pricing, Global Financial Solutions (GFS) position performs pricing, modeling, analysis, structuring, and other activities related to specific new business development opportunities for the Global Financial Solutions business unit. Works with the business development staff to determine client needs and objectives, understand and analyze client information, and design terms and structures of transactions to meet those needs and objectives. Documents risk exposure in potential transactions.

Responsibilities

  • Perform pricing, modeling, analysis, and structuring activities on new or proposed transactions, or amendments to existing transactions, for the Global Financial Solutions business unit in a timely manner consistent with applicable standards.
  • Assess and analyze risk exposure in potential transactions and prepare documentation of these risks in detailed pricing analysis reports.
  • Develop and maintain adequate and timely documentation of professional work that complies with relevant ASOPs.
  • Work with the marketing staff to determine client needs and objectives, understand and analyze client information, and design terms and structures of transactions to meet those needs and objectives.
  • Assist business development associates by building proof-of-concept models for new opportunities or new reinsurance solutions for our clients.
  • Perform peer review on the work of other actuaries.
  • Set realistic and achievable deadlines for modeling, analysis, and other new business development activities. Complete required tasks accurately within those deadlines.
  • Provide updates on ongoing progress to supervisor and other Global Financial Solutions personnel.
  • Assist risk management personnel with transition of new treaties to in-force monitoring and management
  • Participate in key unit and ad-hoc department projects as needed.



Requirements

Education and Experience

Required:

  • Bachelor's degree in math, finance, statistics, actuarial science, computer science or related field
  • FSA certification (or equivalent) and 6+ years of actuarial experience in life insurance/reinsurance
    or
  • ASA certification (or equivalent) and 10+ years of actuarial experience in life insurance/reinsurance


Preferred:

  • MAAA/FCIA or other local actuarial organization accreditation
  • Advanced quantitative degree or designation
  • Reinsurance industry experience
  • Merger and acquisition experience
  • Product design / pricing experience OR ALM / risk management experience (requirements vary with job level)
  • Financial reinsurance, asset-intensive, or longevity pricing experience


Skills and Abilities

Required:

  • Demonstrated knowledge of life insurance, health insurance, longevity, and/or annuity products
  • Ability to take ownership in projects and drive them to completion
  • Experience with actuarial modeling software.
  • 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
  • Ability to work well within a team environment, participate in department/team projects and balance detail with departmental goals/objectives
  • Advanced skills in customer relationship management and change management
  • Advanced ability to translate business needs and problems into viable/accepted solutions
  • 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 persuasion and negotiation skills when working with internal/external customers


Preferred:

  • Advanced knowledge of key financial reporting, accounting, and solvency regimes, including (but not limited to): US GAAP (including FAS 97, FAS 91, FAS 133, FAS 157, and SOP 03-1), US Statutory, and US Tax; IFRS; MCEV / EV / EEV; and Solvency II.
  • Advanced ability to model various insurance products and reinsurance structures.
  • Advanced knowledge of life insurance, health insurance, longevity, and/or annuity products
  • Advanced PC and technical skills including (but not limited to): spreadsheets (VBA), database applications (Access, Oracle, SQL or equivalent technology), statistical programs, and one or more computing languages
  • Expertise in Moody's AXIS, FIS Prophet or MG-ALFA
  • Ability to challenge and enhance our analytical capabilities
  • Understanding of asset modeling and asset-liability management techniques, including derivatives, and capital markets approaches



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.

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Associate Actuary, Pricing, Global Financial Solutions

Toronto, Canada
Full time

Published on 26/03/2022

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