Vice President & Managing Actuary, North America Pricing, GFS

Position Overview

Lead, direct and manage the pricing, modeling, risk analysis, structuring, and other activities related to specific new business development opportunities for the Global Financial Solutions business unit. Lead or partner with the marketing staff to determine client needs and objectives, understand and analyze client information, and design terms and structures of transactions to meet those needs and objectives. Manages others and leads in partnering with business development associates by building proof-of-concept models for new opportunities or new reinsurance resolutions for our clients. Assists management in marketing efforts by writing articles for publication, presenting at industry meetings, participating in industry or professional committees, and/or developing marketing initiatives. Lead in updating documentation of Global Financial Solutions pricing methodology, parameters, and procedures.

Responsibilities

• Ensure that work products comply with relevant ASOPs.
• Work with the marketing staff 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.
• May lead or assist business development associates by building proof-of-concept models for new opportunities or new reinsurance solutions for our clients. Lead others in doing the same.
• Perform, largely independently, pricing, modeling, risk analysis, and structuring activities on new or proposed transactions, including RGA Capital Partners opportunities, or amendments to existing transactions, for the Global Financial Solutions business unit in a timely manner consistent with applicable standards.
• Assess and analyze risk exposure in potential transactions, develop solutions or mitigation techniques for the same, prepare documentation of these risks in detailed risk analysis reports, and effectively communicate to stakeholders including GFS senior management.
• Performs supervisory duties within the GFS Pricing area, including, but not limited to hiring, training, evaluating, coaching, and disciplining direct reports. Foster a positive and engaged work environment. Mentor, train and develop staff to assume increasing levels of responsibility.
• Set realistic and achievable deadlines for modeling, risk analysis, and other new business development activities. May manage others in completing required tasks accurately within those deadlines. Drive the design of reinsurance transactions 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.
• 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.
• May be required to perform some duties of the Regional GFS Pricing Lead as delegated.
• Take an active role in the management of the GFS Pricing team and in the management of GFS by contributing to operational planning, strategic planning, new initiatives, and deal planning meetings.
• Assist with marketing efforts by writing articles for publication, presenting at industry meetings, participating in industry or professional committees, and/or developing marketing initiatives.
• Support the marketing department on trips and client meetings as needed. Support the marketing department with client development and contact activities. Assist with retrocession support.
• May lead or perform peer review on the work of others, perform final consistency checks, and otherwise ensure pricing integrity.
• Lead in updating documentation of Global Financial Solutions pricing methodology, parameters, and procedures. Recommend, implement, and document enhancements to the pricing process.
• Assist risk management personnel with monitoring experience of in-force treaties
• Participate in key unit and ad-hoc department projects as needed.
• Maintain regular and predictable attendance.
• Perform other duties as assigned.

Requirements

• Bachelor's degree in Math, Finance, Statistics, Actuarial Science, Computer Science or related field
• FSA Certification
• 15+ years of actuarial experience in life insurance/reinsurance
• 5+ years management experience
• Highly advanced knowledge of life insurance, health insurance, longevity, and/or annuity products
• Experience with actuarial modeling software
• Demonstrated ability to take ownership in projects and drive them to completion
• Exceptional people management skills, demonstrating the ability to lead, mentor, and develop associates; including the ability to delegate key areas of responsibility
• Advanced ability to implement change within an organization, ensuring understanding, participation, and ownership.
• Highly 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.
• Highly advanced ability to adapt new methods; work under tight deadlines and stressful conditions.
• Expert skills in managing multiple projects and/or sub-teams simultaneously
• Highly advanced ability to make timely and effective decisions and produce results through strategic planning and the implementation and evaluation of programs and policies.
• Highly advanced ability to implement organizational, divisional and/or departmental vision and goals that result in achievement and success through exceptional leadership skills, collaboration, creative thinking, maintaining focus, and persistence, even under adversity, while maintaining the confidence of associates and customers.
• Expert ability to work well within and manage a team.
• Expert ability to foster a teamwork and customer service focused environment.
• Expert ability to liaise with individuals across a wide variety of operational, functional and technical disciplines
• Expert persuasion and negotiation skills when working with internal/external customers to resolve issues/problems

Preferred:

• MAAA/FCIA or other local actuarial organization accreditation
• Advanced quantitative degree or designation
• Reinsurance industry experience
• Product design / pricing experience AND/ OR asset-liability management (ALM)experience
• Financial reinsurance, asset-intensive, or longevity pricing experience
• Advanced knowledge of key financial reporting, accounting, and solvency regimes, including (but not limited to): US GAAP (including FAS 97, FAS 91, FAS 133, FAS 157, and SOP 03-1), US Statutory, and US tax; IFRS; MCEV / EV / EEV; and Solvency II.
• Advanced ability to model various insurance products and reinsurance structures.
• Advanced knowledge of life insurance, health insurance, longevity, and/or annuity products
• Advanced PC and technical skills including (but not limited to): spreadsheets (VBA), database applications (Access, Oracle, SQL or equivalent technology), statistical programs, and one or more computing languages
• Expertise in AXIS
• 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 life and health reinsurance companies. With headquarters in St. Louis, Missouri, RGA supports clients and partners around the world through innovative approaches and customized solutions.

Founded in 1973, RGA celebrated its 50th anniversary in 2023.

• We are the only global reinsurance company to focus primarily on life- and health-related reinsurance solutions.
• Our core products and services include life reinsurance, living benefits reinsurance, group reinsurance, health reinsurance, financial solutions, facultative underwriting, and product development.
• RGA ranks #257 on the 2024 Fortune 500 list. The list ranks U.S.-based companies by total revenue.
• RGA has been named to Fortune magazine's 2023 and 2024 lists of the World's Most Admired Companies.
• RGA in Canada has been selected as one of Greater Toronto's Top Employers for 2024
• RGA has approximately $3.5 trillion of life reinsurance in force and assets of $87.4 billion as of September 30, 2023.

RGA aims to evolve RGA workplaces and the communities in which RGA has a presence, into more diverse, equitable and inclusive environments. We will create a culture where individuals are valued, feel a sense of belonging, and are respected for their differences - a workplace where all employees are encouraged and supported to reach their full potential.

Our individual, social, economic, and cultural identities shape and influence our experiences and perspectives. Therefore, to do our best work RGA will ensure diversity in our workforce across the various dimensions of social, interpersonal, and cultural identity - and by practicing inclusivity in how we work with one another. Inclusion in our workplace is a step towards our purpose of making financial protection accessible to all .

Flexible Working Environment

RGA supports hybrid and flexible ways of working and would welcome a discussion on how it can balance what is important to you with business requirements during the recruitment process.

Visit our Annual Review site, https://rgaannualreview.com , to find out more about us.

RGA offers a comprehensive total rewards package including a range benefits and flexible plans. The pay range for this position is $188,345 - $287,000 per year in addition to an annual bonus. Base pay varies depending on job-related knowledge, skills, experience and market location.