Associate Actuary, Assumptions

Position Overview

Working alongside senior actuaries, this position will be instrumental in realizing the future state of assumption setting in the use of predictive analytics and advanced statistical techniques for RGA USIL. The Associate Actuary, USIL Assumptions, develops key actuarial assumptions in support of the USIL Best Estimate (BE) Assumption Review and Update process, potential reinsurance transactions, and actuarial services. Leverages predictive analytics and other advanced statistical techniques to improve the efficiency of assumption development and to enhance the accuracy and reliability of assumptions. Manages the assumption update process, collaborates with Experience Studies team and Valuation team to ensure timely and effective assumption implementation and impact review, and provides meaningful interpretation of analyses and makes robust recommendations.

Responsibilities

• Develops and recommends mortality, lapse and other assumptions based on thorough risk analysis and review of experience studies, predictive models, and other risk monitoring tools under the direction of the other USIL Assumption SMEs.

• Makes clearly articulated recommendations to the Assumption Review Working Group, USIL AGC, and other key stakeholders.

• Collaborates closely with USIL BE Assumption Review and Update process Project Manager to establish annual plan and manage to and report on timelines, ensuring risks are appropriately elevated and mitigation plans developed as needed.

• Collaborates closely with the Pricing, Underwriting, and Business Development teams to develop competitive, defensible, and timely actuarial assumptions in support of pricing potential reinsurance transactions.

• Completes peer reviews of BE and pricing assumption development work.

• Develops and maintains thorough documentation of assumption work including assumptions developed, supporting analysis performed, peer review and process executed.

• Encourages and provides recommendations for continual process improvement.

• Keeps up with new developments with respect to assumptions, experience, governance, and emerging risks related to USIL.

• Liaises and fosters positive relationships with individuals across a wide variety of operational, functional, and technical disciplines.

• Presents work products through various outlets including internal meetings, industry meetings, and internal or external publications.

• Supports development of junior staff and drives team engagement

• Participates in special projects, committees, meetings, and client presentations as required.

• Maintains regular and predictable attendance.

• Performs other duties as required.

Requirements

• Bachelor's degree in Actuarial Sciences, Economics, Finance, Math, Statistics or related field

• FSA accreditation

• 6+ years of actuarial experience in life insurance and/or reinsurance

• Advanced actuarial technical skills

• Advanced investigative, analytical, and creative problem-solving skills

• Demonstrated understanding of key assumptions, experience studies, data analysis, protective value

• Demonstrated knowledge of life insurance products and pricing methods

• Demonstrated understanding of reinsurance concepts and methods

• Demonstrated understanding of GAAP, statutory, and tax accounting and reporting

• Advanced PC skills, including spreadsheet, database, and actuarial tools

• Intermediate ability to challenge and enhance analytical capabilities

• Ability to manage multiple tasks simultaneously and meet tight deadlines

• Demonstrated flexibility and adaptability within a fluid environment

• Ability to work independently and to work well within a team environment, balancing detail and individual tasks with team objectives and projects

• Ability to liaise with individuals across a wide variety of operational, functional, and technical disciplines

• Advanced oral and written communication skills, including presentation skills, demonstrating the ability to convey information in a way that is meaningful and well received

• Ability to translate business needs and problems into viable/accepted solutions

• Advanced persuasion and negotiation skills when working with internal/external customers

• Adaptable, self-starting, and team-oriented

Preferred:

• Reinsurance industry experience

• Life pricing, product development, or assumption setting experience

• Cross-functional project experience

• Experience working in virtual and/or remote team environments

• Highly advanced ability to compile, analyze, refine and interpret large amounts of data

• Advanced knowledge of life insurance products and pricing

• Advanced understanding of reinsurance concepts and methods

• Knowledge of reinsurance pricing frameworks

• Ability to take ownership in projects and drive them to completion, including setting appropriate goals, coordinating resources, properly assessing risks, resolving issues, and communicating to key stakeholders in an appropriate and timely manner, while adapting to changing priorities

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, https://rgaannualreview.com, 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: $111,860 - $171,025 + bonus.