Actuary/Associate Actuary, North America Pricing, GFS - Toronto, Canada - Reinsurance Group of America (RGA)

Description

Position Overview

The Actuary, Pricing, Global Financial Solutions positionperforms pricing, modeling, analysis, structuring, and other activities related to specific new business development opportunities for the Global Financial Solutions business unit. Works with the business development 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. Documents risk exposure in potential transactions. Assists marketing associates by building proof-of-concept models for new opportunities or new reinsurance solutions for our clients. Assists business development associates in the development of new markets, structures, and product lines for GFS to be marketing proactively to our clients.

Location: Canada or US (hybrid or remote)

Responsibilities

• Perform pricing, modeling, analysis, and structuring activities on new or proposed transactions, 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 and prepare documentation of these risks in detailed pricing analysis reports.
• Develop and maintain adequate and timely documentation of professional work that complies 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.
• Assist business development associates by building proof-of-concept models for new opportunities or new reinsurance solutions for our clients.
• Perform peer review on the work of other actuaries.
• Update documentation of Global Financial Solutions pricing methodology, parameters, and procedures. Recommend, implement, and document enhancements to the pricing process.
• Set realistic and achievable deadlines for modeling, analysis, and other new business development activities. Complete 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 and other Global Financial Solutions personnel.
• Assist risk management personnel with transition of new treaties to in-force monitoring and management
• Participate in key unit and ad-hoc department projects as needed.

Requirements

• Bachelor's degree in math, finance, statistics, actuarial science, computer science or related field
• FSA certification (or equivalent)
• For Associate Actuary: 6+ years of actuarial experience in life insurance/reinsurance
• For Actuary: 8+ years of actuarial experience in life insurance/reinsurance
• Demonstrated knowledge of life insurance, health insurance, longevity, and/or annuity products
• Ability to take ownership in projects and drive them to completion
• Experience with actuarial modeling software.
• Highly advanced oral and written communication skills, demonstrating the ability to convey business terminology that is meaningful and well received
• Highly advanced investigative, analytical, and problem-solving skills
• Expert ability to balance detail with departmental goals/objectives
• Advanced skills in customer relationship management and change management
• Highly advanced ability to translate business needs and problems into viable/accepted solutions
• Highly advanced ability to manage multiple projects and/or teams simultaneously
• Highly advanced ability to liaise with individuals across a wide variety of operational, functional, and technical disciplines
• Highly advanced persuasion and negotiation skills when working with internal/external customers

Preferred:

• MAAA/FCIA or other local actuarial organization accreditation
• CFA designation
• Advanced quantitative degree or designation
• Reinsurance industry experience
• Merger and acquisition experience
• Product design / pricing experience OR ALM / risk management experience (requirements vary with job level)
• 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 Moody's AXIS, FIS Prophet or MG-ALFA
• Ability to challenge and enhance our analytical capabilities
• Understanding of asset modeling and asset-liability management 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, , to find out more about us.

RGA offers an array of benefits, including flexible plans.

Pay is based on a number of factors, including market, a candidate's skills, and experience commensurate with a role, etc. salary range: $127,950 - $159,940 + bonus