Actuary, Risk and In-force Management, Financial Solutions

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RGA is a purpose-driven organization working to solve today's challenges through innovation and collaboration. A Fortune 500 Company and listed among its World's Most Admired Companies, we're the only global reinsurance company to focus primarily on life- and health-related solutions. Join our multinational team of intelligent, motivated, and collaborative people, and help us make financial protection accessible to all.

Financial Solutions Products are a key aspect to RGA's long-term growth. The Actuary, Risk and In-force Management, Financial Solutions will be a key player in supporting the sustainable growth of the Pension Risk Transfer (PRT) business, ensuring that the business is managed effectively and within RGA standards.

The Actuary, Risk and In-force Management, Financial Solutions is responsible for:

• Effective risk and In-Force management of PRT products
• Pre-binding risk assessments of new business for new PRT transactions
• Leading the development of experience analysis and financial performance of the block of business, including stakeholder reporting
• Leveraging the value in the inforce, through actionable analytics and business insights

Responsibilities

New Business Support and Risk Assessments

• Using an in-depth knowledge of the key longevity risk and PRT risks (longevity, deferred lives) and processes, conduct a comprehensive assessment of risk characteristics for proposed new transactions
• Review the risk analysis and treaty documents for new or amended transactions, highlighting any potential areas of heightened risk, providing feedback/recommendations to support deal teams in treaty negotiations and to mitigate risk, escalating as necessary
• Maintain and enhance inforce guidelines outlining acceptable terms, negotiation options and escalation points for new longevity transactions
• Enhance framework for monitoring risk metrics in relation to key risks (longevity, deferred lives, collateral, liquidity)
• Ensure effective monitoring of risk limits and KRIs, escalating issues with actionable recommendations

Inforce Management

• Data, Experience, and Performance Analysis
• Identify and analyze the impact of longevity and PRT transaction data changes and lump-sum elections in the inforce file, and work with clients to establish premium true-up amounts and financial settlement
• Collaborates with internal and external partners to execute necessary legal document amendments
• Conduct US pension risk transfer contract value reporting and comment on quarter-over-quarter changes
• Translates pension plan provision into benefit calculation worksheets
• Provides actuarial support and guidance to the administration team for deferred benefit calculations or as needed
• Conduct experience analysis and leverage insights to propose appropriate changes to best estimate assumptions, and comment on income expectations incorporated in the GFS annual Plan
• Identify and analyze root causes of deviations from Plan and/or original pricing to support communication to executives and senior managements
• Manage internal/external retrocession arrangements, providing required reporting to stakeholders
• Support organizational initiatives to manage capital requirements and risk limits:
  
  • Act as PRT SME for capital management projects, including any retrocession arrangements
  • Support corporate partners with preparation of capital submission by providing metrics and business line insights

Strategic Projects

• Drive innovation in inforce Longevity/PRT processes in order to achieve scalability and improve controls through database technology to structure centralized storage for In-Force and risk management processes
• Effectively utilize visualization tools to improve reporting of In-Force metrics and analytics

Leadership and Coaching

• Support development of junior staff and drive team engagement
• Collaboratively works across multiple functions and geographies, serving as an SME on multiple cross-functional initiatives
• Supports and contributes to the development and implementation of the Business Unit Strategic Plan

Candidate Requisites:

Education, Experience, Skills & Abilities

• Fellowship in a recognized actuarial organization preferred (FSA, FIA, FCAS, FIAA)
• 8+ years' experience; 3+ years post-qualification experience
• Undergraduate degree in related field
• Advanced experience in actuarial modelling software such as Prophet and/or AXIS, Excel, coding (Python, VBA, R), and database applications (SQL)
• Defined benefit expertise, deep knowledge of benefit structures and pension actuarial principles
• Previous experience with of pension risk transfer, longevity reinsurance and/or annuity products
• Strong interpersonal skills, demonstrating the ability to liaise with individuals across a wide variety of operational, functional, and technical disciplines
• Advanced written and verbal communication skills, including presentation skills, demonstrating the ability to convey information in a way that is meaningful and well received to all stakeholders and senior management
• Risk management skills to identify, control, and mitigate actuarial, liquidity, investment, regulatory, operational, and other risks inherent in complex transactions
• Expert level of investigative, analytical, and problem-solving skills
• Strong service and result orientation and a drive to make a difference
• Strong project management skills
• Ability to operate at both strategic and detailed levels, anticipate future needs, be proactive and adapt to constant change
• Advanced ability to implement organizational, divisional and/or departmental vision and goals that result in achievement and success through exceptional leadership, collaboration, and innovative thinking

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What you can expect from RGA:

• Gain valuable knowledge from and experience with diverse, caring colleagues around the world.
• Enjoy a respectful, welcoming environment that fosters individuality and encourages pioneering thought.
• Join the bright and creative minds of RGA, and experience vast, endless career potential.

Compensation Range:
$131,100.00 - $163,900.00 Annual

Base pay varies depending on job-related knowledge, skills, experience and market location. In addition, RGA provides an annual bonus plan that includes all roles and some positions are eligible for participation in our long-term equity incentive plan. RGA also maintains a full range of health, retirement, and other employee benefits.

RGA is an equal opportunity employer. Qualified applicants will be considered without regard to race, color, age, gender identity or expression, sex, disability, veteran status, religion, national origin, or any other characteristic protected by applicable equal employment opportunity laws.