RGA's culture stresses high performance and collaboration, and the company hires the smartest people in the industry. And, the smart people they hire are not just number crunchers. RGA values creativity and curiosity. RGA also values humility, and its employees work together without ego to bring value to RGA while revolutionizing the life and health insurance space.
The Senior Actuarial Assistant is 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, PRT, 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.
The role contributes to the enhancement of the financial models and infrastructure by developing and maintaining actuarial assumptions, methods, models, and processes used within the valuation team.
- Develops, maintains, and/or reviews actuarial models in Prophet and other applications, including setting up and maintaining appropriate assumptions.
- Performs detailed US GAAP, US Statutory and Tax valuation work for assigned business, ensures these items are appropriately documented and posted, and assists with identifying changing requirements and adapting to maintain compliance.
- Develops unbiased projections for financial planning and analysis and assists with communication of financial analytics and results in terms of major drivers of variance.
- Serves as a liaison with other valuation, pricing, administration, risk management, finance, and internal/external audit associates.
- Performs 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
- Five of Exam P, FM, MLC, MFE, C and FAP1
- 2+ years of actuarial experience in life insurance/reinsurance
- Experience with actuarial valuation or pricing models
- 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 pensions and other longevity products
- Life insurance/reinsurance industry and product knowledge
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 multi-task and meet tight deadlines
- Ability to balance detail with departmental goals/objectives
- Advanced oral and written communication skills
- Advanced interpersonal skills, demonstrating the ability to work effectively with different disciplines, including pricing, finance, accounting, systems, and administration
- Ability to compile, analyze, refine, and interpret large amounts of financial data/results and model projections
- Complex analytical and problem-solving skills
- Competent knowledge and understanding of actuarial and accounting concepts
- Ability to work independently and to work well within a team environment and participate in department projects
- Expertise in Prophet and/or AXIS (or equivalent actuarial software)
- Expertise in Prophet with experience using the ALS library, at least 1 Liability library and preferred expertise in at least one of the summary or GAAP cohort libraries
- Ability to program in Visual Basic, R or equivalent
- Advanced understanding of local regulatory environments and US GAAP accounting standards
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 $70,235 to $99,735 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.