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Senior Actuarial Associate, Longevity Risk Management, GFS

Position Overview

The Senior Actuarial Associate, Longevity Risk Management will be part of Global Financial Solutions (GFS) which accounts for over 50% of RGA's consolidated income. The Longevity line of business is both new and one of RGA's fastest growing lines of business with benefit obligations in excess of $50 billion USD. The Senior Actuarial Associate will contribute to the development and implementation of ongoing monitoring processes and tools to ensuring that the Longevity line of business is managed to a standard at least as rigorous as that of RGA's other lines of business.

Responsibilities

  • Conducting user testing of inforce data extracts on experience analysis and valuation platforms and communicating results
  • Implementing, maintaining and enhancing inforce management and risk management processes, including premium vector maintenance activities
  • Monitor and manage all aspects of collateral arrangements
  • Modeling to monitor financial performance and risk metrics


Experience Analysis

  • Partner with Operations, Valuation and Pricing to perform user testing of experience data extracts
  • Perform mortality experience analysis against various bases using mortality analysis software
  • Examines quality of source data and evaluates software output for accuracy and quality, understanding patterns and trends in analyzing the information
  • Leverage insights to propose appropriate changes to best estimate assumptions and communicate with stakeholders in various departments


Collateral Management

  • Maintain, enhance and develop collateral models in order to estimate current and ongoing collateral needs
  • Gain in-depth knowledge of the collateral provisions in order to ensure compliance with the treaty requirements and oversee cures, as needed
  • Analyze sensitivity runs with respect to the potential variability of GFS collateral needs, including detailed explanations of any period-over-period changes
  • Support improvements and enhancements to collateral management processes and other strategic initiatives


Actuarial Adjustments to Premiums (Premium Resets)

  • Support the Longevity team in the identification of data changes in the inforce file, revised premium cash flows and the resulting financial settlement
  • Review and independently analyze the proposed data changes to ensure compliance with treaty terms
  • Review the calculation of new monthly premium vectors encompassing the remaining life of the deal


Inforce Monitoring and Data Analysis

  • Partner with peers in Valuation and Operations to support the testing of valuation data extracts, solving problems that emerge, and communicating back to peers
  • Support Valuation team by modelling new transactions in Prophet
  • Develop and implement system tools to monitor all aspects of the inforce business; includes using Python to build and maintain demographics tool



Requirements

Education, Experience & Skills

Required:

  • Undergraduate degree in related field
  • Associate in a recognized actuarial organization preferred (ASA, ACIA, ACAS)
  • At least five (5) exams from the Society of Actuaries
  • Advanced modeling and technical skills, including actuarial software (Prophet, AXIS), spreadsheets (VBA), coding (Python), and database applications (Access, SQL)
  • Knowledge of life, health, and/or annuity products
  • Effective written and verbal communication skills, whereby complex and technical information can be conveyed in a way that is meaningful by all stakeholders
  • Effective interpersonal skills, demonstrating the ability to work effectively with different stakeholders and disciplines across the company
  • Ability to work independently as well as within a team environment
  • Sense of organization and detail-oriented
  • Ability to simultaneously work on several projects


Preferred:

  • 3 to 5 years of relevant actuarial work experience
  • Previous reinsurance experience
  • Knowledge of US GAAP, IFRS, Solvency 2



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.

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 Auditor to support our Global Financial Solutions & Investments teams.

At RGA, we believe that environmental and social responsibility is central to our business strategy. This means operating with integrity, investing responsibly, and adhering to sound corporate governance principles. R GA and the RGA Foundation are focused on advancing the education, health, and longevity of people in the communities in which we operate. Every day, RGA seeks to foster values of inclusion and integrity, charitable giving and volunteerism, and sustainable and environmentally responsible business practices around the world.

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Senior Actuarial Associate, Longevity Risk Management, GFS

Toronto, Canada
Full time

Published on 22/04/2022

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