Qualified actuary to perform the following key tasks
- LDTI Reporting and responding to stakeholders' queries on any variances to expected
- Modelling new blocks of business on Prophet platform
- Indian statutory reporting and preparing responses to regulatory queries.
- Preparing Business Plans and Capital forecasts
- Performing Experience Analysis, Loss Ratio Analysis and proposing assumptions with appropriate documentation
- Communication with executives and maintaining excellent relationships with the Finance, Administration and Pricing teams are key components of the role.
- Finding ways to automate processes to improve the team's efficiency
- The role also involves communication and coordination with stakeholders in the Regional Valuation team and Corporate Valuation team
- Preparing and analysing LDTI results to explain variances to expected.
- Preparing necessary internal memos and documentation for all basis changes and new models to be implemented
- Preparing necessary documentation for the new models built and quantifying the impacts on reserves
- Modeling of key business on Prophet platform for the purpose of LDTI and Local regulatory reporting
- Testing existing models and validating/updating assumptions on a regular basis.
- Perform and review experience studies/loss ratio analysis and analysis on current inforce business and propose updates to the valuation basis as appropriate.
- Ensure good quality documentation for all assumptions reviewed
- Preparing a robust framework to be able to accurately complete various regulatory forms and reports in compliance with the local statutory requirements for annual and quarterly filings
- Coordinating with the local regulator's inspection team and providing them necessary records for inspection
- Drafting responses to regulatory queries received
- Closely monitoring the evolving solvency requirements and providing necessary inputs to the finance team on Capital requirements
- Guiding junior associates for them to be able to collect necessary inputs from the pricing and the admin teams for the purpose of building new models and refining existing ones
- Running the developed models for the periodic reporting requirements
- Collaborate with pricing team to be updated on the trends in business and experience which would feed into valuation work and vice versa
- Develop projections for financial planning and analysis and communicate the appropriate financial analytics, including a discussion of major drivers of variance.
- Maintain compliance controls and audit checks on the valuation data and bases.
- Ensuring that the SOX requirements are complied with in a timely manner
- Support local business decision making through financial and actuarial analysis.
- Bachelor's degree in Math, Finance, Actuarial Sciences, Statistics or related field
- Qualified actuary with at 8-10 years relevant working experience in life insurance/reinsurance
- Hands on experience with Indian statutory reporting
- Computer literacy, including actuarial software (preferably Prophet) and a strong understanding of Excel and VBA
- Strong analytical, data management skills, work attitudes to details and ability to manage multiple projects simultaneously
- Highly motivated, conceptual thinker who is able to collaborate in a team environment or work independently and take a leadership role in a wide variety of assignments
- Highly 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
- Highly advanced interpersonal skills, demonstrating the ability to work effectively with different disciplines, including pricing, finance, systems, and administration
- Highly advanced ability to liaise with individuals across a wide variety of operational, functional, and technical disciplines
Reinsurance Group of America, Incorporated (NYSE: RGA) is a global industry leader specializing in life and health reinsurance and financial solutions that help clients effectively manage risk and optimize capital. Founded in 1973, RGA celebrates its 50th anniversary in 2023. Over the past five decades, RGA has become one of the world's largest and most respected reinsurers and is guided by a fundamental purpose: to make financial protection accessible to all.
RGA has been named to Fortune magazine's 2023 list of the World's Most Admired Companies, an acknowledgement that reflects our legacy of innovation, dedicated client focus, community responsibility, commitment to diversity, and long-term value creation. RGA serves clients and partners in key markets around the world and has approximately $3.3 trillion of life reinsurance in force and assets of $82.7 billion as of September 30, 2022. To learn more about RGA and its businesses, visit www.rgare.com