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Vice President and Actuary, Pension Risk Transfer Pricing

Position Overview

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 this Vice President and Actuary, Pension Risk Transfer Pricing professional to join our team.

The Vice President and Actuary, Pension Risk Transfer Pricing position will lead, direct and manage the pricing, modeling, risk analysis, underwriting, and other activities related to specific new business development and transaction opportunities for the Pension Risk Transfer (PRT) business in Global Financial Solutions (GFS) business unit of RGA. Lead or partner with business development to determine client needs and objectives, understand and analyze client information, and design terms and structures of transactions to meet those needs and objectives. Collaborate and coordinate with multiple internal stakeholders and corporate partners to meet and exceed PRT business objectives.

Responsibilities

  • Lead pricing of PRT business.
  • Set realistic and achievable deadlines for modeling, risk analysis, and other new business development activities. Drive the design of solutions and lead discussions on risk issues with internal and external clients. Provide updates on ongoing progress to supervisor, other Global Financial Solutions personnel, and senior management.
  • Assess and analyze risk exposure in potential transactions, develop solutions or mitigation techniques for the same, and prepare documentation of these risks in detailed risk analysis reports.
  • Work in partnership with Business Development to determine client needs and objectives, understand and analyze client information, and design terms and structures of transactions to meet those needs and objectives. Lead others in doing the same.
  • Support Business Development on trips and client meetings as needed. Responsible for being the client facing representative of the PRT pricing team in support of Business Development with client development and contact activities. Assist with retrocession support.
  • Supervise, review, and provide feedback, in a timely manner, the work - including data, assumptions, modeling, sensitivity testing, and documentation - of other actuaries as appropriate and as needed, and specifically on projects in the relevant area of responsibility.
  • Collaborate and coordinate with multiple internal stakeholders such as Legal, Administration, Risk Management, Investments, Valuation, Finance, and other Corporate teams on approvals, assumptions, pricing processes, exceptions, and document drafting
  • Ensure that work products comply with relevant ASOPs.
  • Lead in updating documentation of Global Financial Solutions pricing methodology, parameters, and procedures as it relates to PRT business. Recommend, implement, and document enhancements to the pricing process.
  • Write articles to publish, present at industry meetings, participate in industry or professional committees, and/or help develop growth initiatives to support RGA's PRT brand.
  • Perform all supervisory duties including, but not limited to, hiring, training, evaluating, coaching, and disciplining direct reports. Foster a positive and engaging work environment. Mentor, train, and develop staff to assume increasing levels of responsibility.
  • Take an active role in the direction of the North American GFS Pricing team by contributing to operational planning, strategic planning, new initiatives, and deal planning meetings.
  • Assist Risk Management personnel with monitoring experience of in-force business.
  • Participate in key unit and ad-hoc department projects, as needed.



Requirements

Education and Experience

Required:

  • Bachelor's degree in Mathematics, Finance, Statistics, Actuarial Science, Computer Science, or related field
  • FSA Certification
  • 10+ years Actuarial Experience in life/annuity insurance
  • 3+ years PRT pricing experience


Preferred:

  • Management experience
  • Enrolled Actuary (EA) designation
  • Advanced degree or designation
  • Product design / pricing experience OR ALM / risk management experience


Skills and Abilities

Required:

  • Advanced knowledge of the US PRT market, defined benefit plans, retirement products, regulations, and business models
  • Exceptional people management skills, demonstrating the ability to lead, mentor, and develop associates; including the ability to delegate key areas of responsibility
  • Advanced ability in implementing change within an organization, ensuring understanding, participation, and ownership
  • Advanced ability to take ownership in projects and drive them to completion
  • Advanced oral and written communication skills including presentation skills, demonstrating the ability to convey information in a way that is meaningful and well received by stakeholders and team members
  • Advanced ability to adapt new methods and work effectively under tight deadlines
  • Advanced skills in managing multiple projects and/or sub-teams simultaneously
  • Advanced ability to work well within and manage a team
  • Advanced ability to liaise with individuals across a wide variety of operational, functional, and technical disciplines
  • Strong persuasion and negotiation skills when working with internal/external customers to resolve issues/problems
  • Intermediate experience with actuarial modeling software
  • Foster a teamwork and customer service focused environment


Preferred:

  • Advanced knowledge of key financial reporting, accounting, and solvency regimes: US GAAP, US Statutory, US tax and RBC.
  • Advanced knowledge of life insurance, health insurance, longevity, and/or annuity products
  • Expertise in AXIS and/or Prophet
  • Ability to challenge and enhance our analytical capabilities
  • Understanding of asset modeling and ALM techniques, including derivatives, and capital markets approaches



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.

State of Colorado: This information is provided per the Colorado Equal Pay Act. The pay range for this position in Colorado is $149,250 to $227,635 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.

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Vice President and Actuary, Pension Risk Transfer Pricing

Farmingdale, United States
Full time

Published on 20/07/2022

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