AVP & Actuary, In-Force & Risk 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 AVP & Actuary will be a key player in supporting the sustainable growth of the PRT business, ensuring that the business is managed effectively and within RGA standards.

The AVP & Actuary is responsible for:

• Oversight and design of PRT In-Force and Risk Management processes
• 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

Responsibilities

Line of Business Oversight

• Comprehensive understanding of the dynamics impacting the profitability of the PRT business line of business
• Manages across multiple complex Risk Management processes and collaboratively works across multiple functions and geographies to provide oversight of all aspects of day-to-day In-Force monitoring activities including:
  
  • Actuarial adjustments including assumption updates, premiums for data corrections, emerging inflation, etc.
  • Development of tools to monitor/analyze performance and tools to investigate root causes of deviations from plan and/or from original pricing
  • Analysis to support communication to stakeholders and senior management groups
  • Reporting performance of the In-Force block to stakeholders and providing commentary with respect to experience variances
  • Proposes and implements action plans to respond to adverse emerging experience

• Collaborates with clients and external partners to deliver required reports and provide support for ad-hoc requests.
• Recommends and drives process improvements to enhance stability and scalability of reporting and minimize operational risks

New Business Support and Risk Assessments

• Using an in-depth knowledge of the risk drivers in PRT transactions, performs a comprehensive risk assessment for proposed new transactions, the incumbent:
• Serves as an SME to provide guidance to deal teams, including recommendations for new/developing business processes and/or emerging risks

• Reviews the risk analysis and treaty documents for new transactions, highlighting and where possible quantifying any potential areas of heightened risk, providing recommendations for risk controls, risk mitigation, and escalating where necessary
• Champions recommended changes to legal documents with the deal team to decrease risk prior to presentation to the RGA leadership to ensure and improve on the transaction's viability and manageability
• Provides a recommendation to VP Longevity Risk Management (Line of Business leader) or Financial Solutions Chief Risk Officer prior to sign-off of new transactions as to its viability and manageability

In-Force Management

• Reviews and oversees the premium adjustment schedule and processes in legal documents
• Manages premium adjustments due to data corrections or lump-sum election events, and explains variances to stakeholders
• Collaborates with internal and external partners to execute necessary legal document amendments
• Provides quarterly Contract Value reports to clients to support their regulatory reporting compliance
• Translates pension plan provision into benefit calculation worksheets
• Provides actuarial support and guidance to the administration team for deferred benefit calculations or as needed

• Oversees the experience analysis process for In-Force transactions, applying a deep understanding of the underlying business and performance drivers to support key stakeholders (Risk, Pricing, and Valuation teams) to implement appropriate annual changes to best estimate
• Leads the review of Plan In-Force projections to ensure it accurately reflects expectations, based on a deep understanding of the drivers in each deal's experience
• Leverages insights gained from the experience analysis work to propose income expectations for the In-Force business, and apply judgement to assess and recommend additional adjustments to Plan income considering trends in mortality experience and client data reporting

• Using an in-depth knowledge of applicable capital regimes, participates in 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, and RGA internal board reporting

Management/Leadership

• Leads a team of actuarial resources to support department goals and objectives across the multiple complex Risk Management processes
• Provides leadership and oversight over business line-related initiatives as required
• 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

Education, Experience & Skills

• Fellowship in a recognized actuarial organization preferred (FSA, FIA, FCAS, FIAA)
• 15+ years' experience; at least 8 years post-qualification experience
• Previous experience with of pension risk transfer, longevity reinsurance and/or annuity products
• Expert 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
• Expert risk management skills to identify, control, and mitigate actuarial, liquidity, investment, regulatory, operational, and other risks inherent in complex transactions
• Exceptional people management and leadership skills, demonstrating the ability to lead/influence, mentor, and develop associates
• 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

#LI-DL1

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:
$169,205.00 - $211,505.00 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.