Position Overview
The Sr. Assistant Actuary will be a strong contributor within a high performing group that is focused on model development, maintenance, and governance for a wide range of US and international products underlying RGA’s Traditional and Non-Traditional reinsurance treaties. Traditional products include Life insurance, Term insurance and Universal Life Insurance. Non-traditional products include Variable and Fixed annuities, Fixed Index Annuities, SPIAs, and Longevity Swaps.
The focus of this role is on modeling products and regulations for reporting and planning as well as supporting the quality, usefulness, and reliability of valuation models as they move through their lifecycle. The role also includes some elements of production and analysis of results, including LDTI and Statutory reserves, Tax, Solvency II, ORSA, Cash Flow Testing, Economic Capital, Embedded Value, plan, and management analysis requests.
Responsibilities
- Leads individual modeling projects including onboarding of new treaties, model enhancements, regulatory changes, governance and transparency capabilities, and metrics to support financial reporting.
- Ensures models are compliant with statutory, Tax, and GAAP regulations for trad and non-traditional business, including documentation.
- Adheres to the standard model governance and documentation framework.
- Develops expertise across all aspects of models and supports answering questions coming from the reporting/analysis teams on model characteristics and behavior.
- Provides ongoing support to RGA’s global actuarial projects.
- Serves as a liaison with other lines of business and company functions/departments to promote improvement in valuation and financial analysis for assigned business.
- Performs valuation work and ad-hoc department projects as needed and called upon.
- Maintains regular and predictable attendance.
- Performs other duties as required.
Requirements - Bachelor’s degree in Math, Finance, Actuarial Sciences, Statistics, or related field
- ASA accreditation or equivalent
- Experience in modeling non-traditional products such as deferred annuities, payout annuities, pension risk transfer, stable value wrap, and LTC, including reinsurance of these products.
- 4+ years of actuarial experience in life insurance/reinsurance
- Understanding of insurance financial metrics and analysis techniques
- Experience with open actuarial valuation or projection models, including Prophet, MoSes, MG-ALFA, Algo FM, or equivalent.
- Prophet proficiency is an important asset:
- Familiarity with Prophet Professional with experience using liability (US360) and ALS libraries, reviewing, and developing products and running and debugging model runs.
- Advanced PC and technical skills, including database applications (Access, Oracle, SQL, VBA, or equivalent technology), spreadsheets, or statistical programs.
- Highly advanced ability to model various insurance products and reinsurance structures.
- Demonstrated knowledge of life insurance, longevity, institutional and/or annuity products
- Knowledge of GAAP, Statutory, and Tax valuation and financial reporting.
- 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.
- Advanced interpersonal skills, demonstrating the ability to work effectively with different disciplines, including pricing, investments, accounting, systems, and administration.
- Ability to translate business needs and problems into viable/accepted solutions.
- Ability to manage multiple projects and/or teams simultaneously.
- Ability to consult with individuals across a wide variety of operational, functional, and technical disciplines.
- Advanced analytical and critical thinking skills
- Ability to balance detail with departmental goals/objectives.
- Ability to work independently and to work well within a team environment and participate in department projects.
Preferred:
- MAAA accreditation
- Prior management experience
- Prophet modeling experience in ALS, US 360, US NA, GAAP, and/or cohort libraries
- Stochastic modeling and/or asset liability management experience
- Experience with model unit testing and validations
- Understanding of local reporting and regulatory environments
- Reinsurance industry and/or merger and acquisition experience
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 $93,330 - $143,500 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.
