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Profile Summary:
The Insurance Risk Actuary will provide support, monitoring and reporting of Insurance Risk for Resolution Life. The role will be responsible for the assessment, management and mitigation of insurance-related risks.
Profile Responsibilities:
Provide risk support and prepare risk due diligence memos for prospective M&A deals via identification of key risks of the transaction and rating the risks accordingly, and proposing mitigating solutions as well as actuarial assumptions in deal pricing, scenario sensitivities and capital & value at risk.
Perform risk analysis for assumption updates and annual Business Plan process, both qualitatively and quantitatively.
Continuous refinement and implementation of a robust new transaction risk review framework
Review/challenge process on key decisions and assumptions where material judgements are applied.
Create and compile quarterly Board and One Company risk materials.
Support RLUS Management Risk Committee; responsible for preparing monthly Risk Committee agenda and materials and facilitating approval requests and follow up items.
Prepare effective PowerPoint decks (or memorandums) and clearly present materials in Management Risk Committee meetings and other working group forums.
Demonstrate strong communication skills in discussions with senior leaders and executive leadership team.
Successfully collaborate with other departments and partners to achieve objectives.
Support Company compliance with the Bermuda Monetary Authority (“BMA”) standards and requirements including onboarding, data input, validation and maintenance of the Governance, Risk and Compliance (“GRC”) tool.
Oversee quarterly Top and Emerging Risk Report update process soliciting timely feedback from subject matter experts across the Company.
Responsible for authoring US regulatory documents such as Recovery Plan, Own Risk and Solvency Assessment (“ORSA”), and Enterprise Risk Report (“ERR”) and contributing to Company-wide regulatory documents.
Actively maintain Company Risk Policy Framework including at annual review of Policies and Standards and ensuring the Risk Appetite and Limits doc is up to date and any changes go through the proper governance.
Assess pro forma risk profiles against Risk Appetite, Tolerances, and Limits
Act as liaison between FP&A, Actuarial and Risk teams for regulatory trend monitoring.
May perform Model Validation of a Company Model on a regular basis.
Collaborate with other Insurance Entity counterparts and members of the Operational Risk Management (“ORM”) and Enterprise Risk Management (“ERM”) teams.
Actively monitor and stay apprised of any regulatory (domestic and global) and/or insurance risk related trends through participation in industry and professionalism forums, research and continuing education.
Knowledge & Skill
Bachelor’s degree in Actuarial Science, Mathematics, Finance or other related field
Fellow of the Society of Actuaries with 7+ years of experience
Superior oral and written communication and problem-solving skills
Broad knowledge of U.S. insurance products, insurance company operations and reinsurance
Good time-management skills; ability to manage competing priorities and deadlines
Preferred experience with Excel, Word, PowerPoint and database software and/or programming experience
Experience in general risk management practices, reviewing and assessing the appropriateness of complex models, and actuarial assumptions, a plus.
Location: West Chester, PA preferred (generally 1-2 days/week in the office, may be more); open to remote in CT or NJ for the right candidate with the expectation to travel to West Chester, PA office once a quarter and to the NY office once a quarter
Resolution Life US is committed to disclosing a reasonable estimate of the base salary for our job roles. These estimates consider a wide range of factors in making base salary decisions, including but not limited to skill sets; experience and training; licensure and certifications; and other business and organizational needs.
In addition to salary, Resolution Life US offers a comprehensive benefits package, including our health & wellness program, incentive and recognition programs, and 401k contribution (all benefits are subject to eligibility requirements). The salary range reflects figures based on the primary location, which is listed first. The range for the role may differ based on the location.
West Chester, PA base salary range: $167,000 - $200,000
Critical Skills
At Resolution Life, we have identified the following critical skills which are key to success in our culture:
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