The EMEA Regional Pricing Team forms part of the wider EMEA Enterprise Risk Management Team. Our purpose is to support the EMEA offices inachieve their goals and optimise value by actingasboth enablersand riskgatekeepers. We achieve this by providing expert advice, oversight and education on Traditional products and risks within RGA.
Working with specific assigned offices and more generally on regional projects, the Regional Pricing Actuary EMEA will promote and contribute to the ongoing development of pricing integrity, risk management and control initiatives. The Regional Pricing Actuary EMEA will also support the capability of the pricing actuaries in the region by sharing expertise, training and offering more support on opportunities such as bespoke quotes and new product developments.
The Regional Pricing Actuary EMEA will work primarily with the Vice President, Chief Pricing Actuary for EMEA, the EMEA Regional Pricing Team, the Chief Pricing Actuaries of the EMEA offices and their teams and expert colleagues around the globe. The Regional Pricing Actuary EMEA will also work with EMEA Leadership on quote escalations and reporting on pricing performance, as well as with the MDs of EMEA offices.
- Hold CPAs of assigned offices accountable for
- Pricing integrity - ensuring pricing bases and quote assumptions reflect the best estimates based on the experience of the office, any experience that can be drawn from other offices and sound actuarial judgement
- New business risk - ensuring new business is accepted in line with RGA and EMEA risk appetites and priced appropriately
- Adequacy of pricing and risk controls - ensuring the pricing and monitoring processes are robust, efficient and minimise the risk of error.
- Through Peer review and approval for reinsurance quotations that are complex or in excess of the delegated authorities of Chief Pricing Actuaries within the EMEA offices
- Peer review and approval of pricing bases for EMEA local offices.
- Monitoring the pricing performance and actual experience of the business
- Performing quality assurance reviews and business performance reviews periodically
- Ensuring Compliance with Regional and Corporate guidelines and policies. And raise any concerns on the above with the Chief Pricing Actuary for EMEA.
- Provide coaching and training for assigned offices, and raise any concerns around resourcing, development or capability gaps with the Chief Pricing Actuary for EMEA.
- Lead EMEA-wide projects to review and update pricing assumptions and other changes to Corporate and regional pricing guidance to encourage consistency and best practice among offices. Promote the use of best practice techniques for all aspects of the pricing quote process. Examples would include changes to the capital model, pricing techniques and pricing assumptions with a similar approach across several different offices.
- Coordinate or manage the implementation of RGA's pricing risk control measures or initiatives. Act proactively to identify emerging areas of risk and include or suggest appropriate controls or action. Perform regular analysis of pricing performance to monitor risks and ensure compliance.
- Provide pricing and risk analysis support to the EMEA offices when needed for the pricing of reinsurance proposals. Coordinate any additional pricing resources and/ or expertise to enable the offices to price these opportunities.
- Work with Finance, Valuations and local pricing teams to monitor the performance of the business, suggest management action and ensure feedback to the pricing assumptions as appropriate.
- Contribute to knowledge sharing, thought leadership, development and training for the EMEA Pricing Community.
- From time to time, the opportunity may arise to take a temporary assignment to fill a Chief Pricing Actuary vacancy.
- Must be a Fellow of an international actuarial organization with around 10-15 years' experience in life insurance or reinsurance
- Strong understanding of a range of life and living benefits insurance products
- The ability to work as part of a team and to build strong working relationships with a wide range of people and to influence others
- Experienced decision-maker with a history of good judgement
- Highly motivated, pro-active, results-oriented and solutions focused
- Problem-solving skills and initiative with attention to detail and an investigative nature
- Excellent written, oral communication and presentations skills
- Strong software applications skills: MS Excel, MS Word, Powerpoint and ideally GGY AXIS
- Ability to travel internationally for durations of up to 1 week, 3 - 4 times per year.
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.
We believe smart people work smarter when they are empowered - when they use logic, but embrace creative problem solving; when their curiosity is encouraged to further innovation; and when they are recognized for seeking out the unknown. It is with this philosophy that RGA engages our workforce to realize that true change happens when smart people collaborate for the good of a company, the industry and the world. Working for RGA - it's the logical choice.