Position Overview
Close to qualified actuary to perform the following key tasks
- Valuation of liabilities and solvency calculation across different regimes
- Responses to regulatory queries
- Modelling new business that includes mortality morbidity products on Prophet platform
- Performing experience studies, embedded value reporting, business planning and risk management (ORSA for the India business).
- Communication with executives and maintaining excellent relationships with the cross functional local and regional teams are key components of the role.
Responsibilities
Key Responsibilities:
- Calculating liabilities and solvency across different regimes with appropriate documentation
- Liase within cross-functional team and regional teams for valuation and different projects
- Preparing a robust framework to be able to accurately complete various regulatory forms and reports in compliance with the local statutory requirements
- Coordinating with the local regulator’s inspection team and providing them necessary records for inspection
- Drafting responses to regulatory queries received
- Modeling of key business on Prophet platform for the purpose of US GAAP, Local regulatory reporting, Solvency II and Embedded Value work
- Testing existing models and validating/updating assumptions on a regular basis.
- Review experience studies and analysis on current inforce business and propose updates to the valuation basis as appropriate.
- Guiding associates for them to be able to collect necessary inputs from the pricing and the admin teams for the purpose of building new models and updating existing ones
- Preparing necessary documentation for the new models built and quantifying the impacts on reserves
- Running the developed models for the periodic reporting requirements
- Collaborate with pricing team and be updated on the trends in business and experience which would feed into valuation work and vice versa
- Closely monitoring the evolving solvency requirements and providing necessary inputs to the finance team on Capital requirements
- Maintains, documents, and supports results, approaches, and controls used to produce and monitor results.
- Develop projections for financial planning and analysis and communicate the appropriate financial analytics, including a discussion of major drivers of variance.
- Maintain compliance controls and audit checks on the valuation data and bases.
- Support local business understanding through financial and actuarial analysis.
Requirements
Education and Experience
- Bachelor’s degree in Math, Finance, Actuarial Sciences, Statistics or related field
- Having cleared 10-12 actuarial papers with at least 5 years relevant working experience in life insurance/reinsurance
- Hands on experience with statutory reporting
- Computer literacy, including actuarial software (preferably Prophet) and a strong understanding of Excel, SQL and VBA
Skills and Abilities
- Strong analytical, data management skills, work attitudes to details and ability to manage multiple projects simultaneously
- Highly motivated, conceptual thinker who is able to collaborate in a team environment or work independently and take a leadership role in a wide variety of assignments
- Highly 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
- Highly advanced interpersonal skills, demonstrating the ability to work effectively with different disciplines, including pricing, finance, systems, and administration
- Highly advanced ability to liaise with individuals across a wide variety of operational, functional, and technical discipline
Company Overview
Reinsurance Group of America, Incorporated (NYSE: RGA) is a global industry leader specializing in life and health reinsurance and financial solutions that help clients effectively manage risk and optimize capital. Founded in 1973, RGA celebrates its 50th anniversary in 2023. Over the past five decades, RGA has become one of the world’s largest and most respected reinsurers and is guided by a fundamental purpose: to make financial protection accessible to all.
RGA has been named to Fortune magazine’s 2023 list of the World’s Most Admired Companies, an acknowledgement that reflects our legacy of innovation, dedicated client focus, community responsibility, commitment to diversity, and long-term value creation. RGA serves clients and partners in key markets around the world and has approximately $3.3 trillion of life reinsurance in force and assets of $82.7 billion as of September 30, 2022. To learn more about RGA and its businesses, visit www.rgare.com