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Executive Director
Reinsurance Group of America
Chesterfield, MO, United States
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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 an Executive Director, GFS – Financial Planning & Analysis to join our team.
The Executive Director, GFS – Financial Planning & Analysis will drive the GFS units Financial Planning and Analysis and support GFS strategy:
Prepare Financial Plan, Expense Analysis and budget, and Financial Forecasting for GFS
• Coordinates the annual financial plan process
• Collaborates with corporate finance, valuation and other business partners to understand the financial results and prepare the narrative behind the results
• Investigates root causes of reporting and expense variances and trends
• Prepare ABP goal setting and guidance
• Oversees divisional plan ensuring accuracy and completeness
• Prepare executive correspondence and presentations in support of GFS business
• Work with stakeholders residing in local offices and regional management in addition to GFS to ensure a common understanding of the targets and metrics
Collaborate with Corporate Finance in the understanding and Financial Analysis of results. Whereas Corporate Finance will be ultimately responsible for accounting policy, reporting of financial results for both new and existing transactions, and manages the analysis of GFS results, the incumbent will have a strong understanding of the financial statement elements.
• Assimilates the analysis of divisional quarterly operating results identifying trends and performing comparisons to prior periods and plan
• Disseminates, as needed, key trends in results and causes of underlying variances to GFS senior management and to local office management impacted.
• Support GFS functions with regard to financial information reported by the Corporate Finance
• Collaborate with GFS Risk Management and Corporate Finance teams to process, monitor and report upon RGA’s internal control over financial reporting to ensure GFS results are appropriately reported and quarterly estimates are in compliance with treaty terms and actuarial principles. Responsibilities also exist with external clients to provide reporting guidance and assistance in applying treaty provisions to highly complex, customized transactions.
• Identify, analyze and communicate emerging issues in regard to foreign currency, collateral, and accountancy.
• Evaluate the risks associated with new transactions, including review of counterparty stability underlying the relief provided.
• Partner with GFS RM, GFS Risk Reporting, Pricing and Treaties to create and develop a strong cross-functional expert team.
Maintains frequent contact with management and staff associates in administration, finance, and valuation in order to accomplish departmental objectives.
Responsibilities
Strategic / Operations:
• Assist with the interaction between Corporate Finance, valuation and GFS risk management to ensure roles and responsibilities are clearly defined and efficiencies are achieved.
• Maintain understanding of financial results and advising senior leaders on financial matters and impact of changing laws and regulations on operations of business.
Financial Planning, Analysis and Reporting:
• Analyzes results against expectations (pricing, plan, trends) and articulates variances based upon business drivers as well as accounting classifications for business written in multiple jurisdictions, currencies and business units.
• Responsible for understanding the drivers of financial results and trends. Incorporates understanding into planning and strategic discussions regarding product lines (Asset Intensive, Financial Reinsurance, Longevity, Financially Motivated Risk) and offices.
• Assists GFS leadership with unusual or bespoke drill down analysis on region, product line, legal entity, business unit, and individual treaty results, as needed.
• Assist on projects related to Expense Management
• Produce reports and help develop presentations on GFS wide information
Business Development / Client Relations:
• Builds and maintains strong working relationships with clients by gaining knowledge of clients’ business and effective listening skills to understand their needs.
Standards / Procedures and Tools:
• Participates, as a subject matter expert, leader or team member, in special projects, committees, meetings and client presentations, as required.
• Collaborate with corporate partners to establish systems or processes to support efficient information reporting
• Through use of Corporate Finance information, prepare ad-hoc or non-standard reports based on Statutory or GAAP reporting, internal financials, clients, and other reports as assigned and requested
Structure:
• Works with other functional areas in RGA such as US, International and Corporate finance, Treasury, Investment accounting, valuation, and trade operations to achieve efficient and effective practices and procedures. Responds to and/or requests information from other functional areas.
People Management:
• Mentors and develops associates and gives guidance on areas of expertise to associates with different backgrounds
• Collaborates with and influences associates with differing geographic, functional and cultural backgrounds.
• Fosters a positive and engaged work environment.
Governance / Compliance:
• Interacts with corporate areas to ensure proper governance and operational compliance are maintained.
Risk Management:
• Follows operational, administrative and systems controls to safeguard corporate assets and ensure processes are working as designed.
Requirements
Education / Experience:
• Bachelor’s Degree in Finance/Accounting/Mathematics or equivalent related work experience
• 8+ years in corporate finance, financial modeling, or FP&A
• 2+ years management experience
• Broad based business and finance-related practice knowledge (Balance sheet, Income statement, US GAAP/ local stat/ local GAAP)
• Professional designation preferred CA/CPA/CFA/FSA
Communication Skills:
• Ability to explain new and difficult concepts and their implications to RGA and implementation parameters, to both people with the same or with different functional backgrounds, to both technical and non-technical audiences.
• Influences, using reasoned arguments, senior management to adopt his/her position.
• Seeks agreement or settlement in contentious or potentially contentious situations.
• Advanced persuasion skills when working with internal and external partners to resolve issues/problems.
• Advanced oral and written communication skills, demonstrating the ability to convey business terminology that is meaningful and well received by all stakeholders, including customers and associates.
Complexity of Reasoning:
• Develops policies, guidance and procedures where none exist within the company using judgment, laws and regulations, and industry wide practices as guides.
• Interprets unique and highly customized transactions whose accounting methodologies are not seen elsewhere within RGA
• Anticipates the implications of nuances embedded within complex transactions on RGA consolidated results, RGA’s legal entity results, line of business results.
• Activities requiring the contribution of various resources (persons, spaces, material, budget etc.).
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.
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