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Actuary, Pricing Oversight and Risk
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 Actuary, Pricing Oversight and Risk candidate to join our team.
The Actuary, Pricing Oversight and Risk will collaborate with the VP and Corporate Actuary with oversight and risk management of the RGA pricing process. Support business units on pricing transactions consistent with RGA’s global pricing guidelines and views on risk and reward. Lead and/or contribute to special projects related to pricing and risk management.
Responsibilities
• Lead and/or contribute to special pricing projects to ensure RGA’s pricing model is consistent with RGA’s strategy and in line with industry best practices.
• Assist in the creation and maintenance of global pricing guidelines and the application of capital to pricing, including socializing guidance with business units and maintenance of the RGA global pricing guidance repository.
• Lead and/or assist in the review of large or unusual transactions on behalf of the corporate pricing function. Peer and technical review transactions from business units as necessary.
• Assist the Corporate Actuary in the management and monitoring of pricing process risk and client recapture risk. Develop quantitative measures of risk limits, key risk indicators and emerging risks. Support communication of notable developments to senior management.
• Maintain and enhance the new business pipeline framework as a tool to measure and analyze RGA’s pricing results and progress towards goals.
• Manage and/or execute pricing audits to ensure adherence to global pricing guidelines and best practices.
• Maintain regular and predictable attendance and perform other duties as required.
Requirements
Education and Experience
Required:
• Bachelor’s degree in Math, Finance, Actuarial Sciences, Statistics or related field
• Fellow of the Society of Actuaries (FSA) or equivalent
• 7+ years experience in life or health insurance and/or reinsurance
• 3+ years experience in life/annuity pricing and/or product development
• Advanced technical skills related to simulation of cash flows, income statement, and balance sheet at both product and corporate level.
Preferred:
• Familiarity with economic and other capital models (RBC, MCCSR / LICAT, Solvency II, Rating Agencies, etc.)
• International experience with a variety of risks that RGA is actively pursuing including mortality, morbidity, policy holder behavior and interest rate
• GGY AXIS and/or FIS Prophet experience
• Enterprise risk management experience
• Stochastic modeling and/or asset liability management experience
Skills and Abilities
Required:
• Understanding of design, risks and critical assumptions relating to a broad array of life, annuity and other protection products.
• Advanced PC and technical skills, including spreadsheets, actuarial software, and database applications.
• Advanced actuarial technical skills and an ability to detect and explain sources of variation from expectations in terms of key drivers.
• Advanced ability to model various reinsurance structures and designs.
• Ability to translate business needs and problems into viable/accepted solutions.
• Skills in customer relationship management and change management.
• Ability to manage multiple projects simultaneously, including the ability to delegate key areas of responsibility.
• Expert level of investigative, analytical and problem solving skills
• Ability to make timely and effective decisions
• Persuasion and negotiation skills when working with internal/external customers to resolve issues/problems
• Ability to travel internationally on an occasional basis
Preferred:
• Intermediate project management skills.
• Advanced oral and written communication skills, demonstrating the ability to convey business terminology that is meaningful, well received and tailored to the audience
• Advanced skills related to process development, improvement, and automation
• Advanced ability to liaise with individuals across a wide variety of operational, functional, and technical disciplines.
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.