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. 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 this Associate Actuary, Pension Risk Transfer Pricing professional to join our team.
The Associate Actuary, Pension Risk Transfer Pricing position performs pricing, modeling, risk analysis, underwriting, and other activities related to specific new business development and transaction opportunities for the Pension Risk Transfer (PRT) business in Global Financial Solutions (GFS) business unit of RGA. Partners with business development 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.
Responsibilities
- Perform pricing, modeling, analysis, and structuring activities on new or proposed PRT transactions in a timely manner consistent with applicable standards.
- Set realistic and achievable deadlines for modeling, risk analysis, and other new business development activities.
- Develop and maintain adequate and timely documentation of professional work that complies with relevant ASOPs.
- Assess and analyze risk exposure in potential transactions, develop solutions or mitigation techniques for the same, and prepare documentation of these risks in detailed risk analysis reports.
- Work in partnership with Business Development and 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.
- Supervise, review, and provide feedback, in a timely manner, the work - including data, assumptions, modeling, sensitivity testing, and documentation - of other actuaries as appropriate and as needed, and specifically on projects in the relevant area of responsibility.
- Collaborate and coordinate with multiple internal stakeholders such as Legal, Administration, Risk Management, Investments, Valuation, Finance, and other Corporate teams on approvals, assumptions, pricing processes, exceptions, and document drafting
- Update documentation of Global Financial Solutions pricing methodology, parameters, and procedures as it relates to PRT business. Recommend, implement, and document enhancements to the pricing process.
- Assist Risk Management personnel with transition of new contracts to in-force monitoring and management.
- Participate in key unit and ad-hoc department projects, as needed.
- Maintain regular and predictable attendance
- Perform other duties as assigned
Requirements
- Bachelor's degree in Mathematics, Finance, Statistics, Actuarial Science, Computer Science, or related field
- FSA certification (or equivalent) and 6+ years of actuarial experience in life insurance/reinsurance or pension consulting OR
- ASA certification (or equivalent) and 10+ years of actuarial experience in life insurance/reinsurance or pension consulting
- Demonstrated knowledge of US PRT market, defined benefit plans, 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.
- Ability to quickly adapt to new methods, work under tight deadlines and stressful conditions
- Advanced oral and written communication skills, demonstrating the ability to convey business terminology that is meaningful and well received
- Advanced investigative, analytical, and problem-solving skills
- Ability to work well within a team environment, participate in department/team projects and balance detail with departmental goals/objectives
- Advanced skills in customer relationship management and change management
- Advanced ability to translate business needs and problems into viable/accepted solutions
- Advanced ability to manage multiple projects and/or teams simultaneously
- Advanced ability to liaise with individuals across a wide variety of operational, functional, and technical disciplines
- Advanced persuasion and negotiation skills when working with internal/external customers
- Advanced ability to work well within and manage a team
Preferred:
- Advanced quantitative degree or designation
- Product design / pricing experience OR ALM / risk management experience
- PRT Pricing Experience
- MAAA/FCIA or other local actuarial organization accreditation
- Advanced knowledge of key financial reporting, accounting, and solvency regimes: US GAAP (including LDTI), US Statutory, US tax and RBC.
- Advanced knowledge of US PRT market, defined benefit plans, life insurance, health insurance, longevity, and/or annuity products
- Expertise in AXIS and/or Prophet
- Ability to challenge and enhance our analytical capabilities
Company OverviewCompany Overview
Discover Reinsurance - https://www.rgare.com/our-company/about-rga
Our history, purpose, partnership, reinsurance, RGA Central (client portal), industry recognition, and risk assessment.
Discover Your Purpose - https://www.rgare.com/careers/careers-overview
Join a community of people driven by the same purpose: to make financial protection accessible to all. What we do, work life worldwide, culture and purpose, diversity, equity and inclusion, career development, benefits, and balance, and becoming a candidate.
Discover RGA - https://www.rgare.com/
Reinsurance Group of America – Making financial protection accessible to all, solutions for every situation, RGA Knowledge Center, global insight locally delivered, our responsibility at RGA, newsroom, and policy and governance.
The general pay range for this position is $111,860 - $171,025 per year. 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 maintains a full range of health, retirement, and other employee benefits.
