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Head of Traditional Pricing

Responsibilities

Pricing Processes and Compliance:

  • Build pricing models for all new business treaties in accordance with the standard pricing model templates approved for RGA Korea
  • Ensure assumptions to be used are in line with current approved pricing bases. Any differences are to be documented and agreed with the Chief Pricing Actuary
  • Ensure proper filing of all quotation files, pricing procedures and pricing bases. Build reference library of information used in the quotation process for audit purposes


Pricing Basis:

  • Assist in the derivation and approval of Pricing Bases for each coverage type permitted in the Korean Business Unit Mandate
  • Assist in the derivation and approval of Pricing Bases for new product types not included in the Mandate
  • Conduct or supervise experience studies of RGA Korea business to ensure the Pricing Bases reflect the branch's own experience where credible
  • Propose to the Chief Pricing Actuary for signoff how RGA should discriminate its pricing from one client to the next


Marketing:

  • Work with the Korean marketing team to understand client's reinsurance needs and product development requirements and in obtaining the necessary information from clients in order to quote.


Pricing Software:

  • Maintain the RGA Korea AXIS template to be used in all quotes and develop the model for additional business included in the RGA Korea mandate


Letters of Offer/Treaties:

  • Use Divisional templates and guidelines, or gain approval to use modified templates to ensure that offers and negotiations reflect Divisional standards and protect RGA's interests and are in accordance with the RGA Korea treaty approval and sign off processes
  • Provide sign off on all offers made for quotations worked on
  • Review treaties drafted for quotations worked on



Requirements

REQUIREMENTS:

  • Qualified as a Fellow of the Institute of Actuaries Australia, Fellow of the Institute or Faculty of Actuaries (UK) or Fellow of the Society of Actuaries (US).
  • Minimum 4 years post qualification experience
  • At least 7 years life insurance experience or relevant similar experience
  • Exceptional analytical skills with advanced ability to investigate, analyse and solve complex problems/issues
  • Proven track record of setting, managing and achieving individual and team goals in a project oriented, customer-focused environment
  • Proven ability to manage competing priorities and time pressures
  • Demonstrated interpersonal skills with ability to liaise with individuals across geographies as well as a wide variety of operational, functional and technical disciplines
  • Excellent written and spoken English communication skills are essential.
  • Ability to travel internationally.


PREFERRED:

  • Knowledge of Asian Life Insurance products and Insurance markets
  • Knowledge of AXIS or similar pricing or projection software
  • Experience in Life Reinsurance Pricing while not essential, would be looked upon favourably.
  • Korean language skills are not required but would be looked on favourably.
  • Knowledge of Asian and/or Korean life insurance markets and product lines also while not required would be highly regarded.



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.

Head of Traditional Pricing

Seoul, Südkorea
Full time

Published on 20.06.2021

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