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Actuarial Assistant, Non-Traditional Valuation

2 months ago

Farmingdale, United States Reinsurance Group of America (RGA) Full time

Position Overview

The Actuarial Assistant will be a strong contributor within a high performing group. The focus of this position is on production and analysis of RGA's global asset intensive reinsurance and direct business. The role also contributes to the enhancement of the financial models and infrastructure by developing and maintaining actuarial assumptions, methods, models, and processes used within the valuation team. It is expected that the successful candidate provides general valuation, financial analysis, and project assistance as needed.

The Non-Traditional Valuation team supports RGA's Global Financial Solutions (GFS) business segment. The focus of the team is on building and maintaining the Valuation model, performing financial reporting and analysis, and assumption setting for the GFS business.

Direct issue and/or reinsurance products include:

  • Accumulation Annuity products such as RILA, Variable Annuities, Indexed Annuities, Fixed Annuities
  • Longevity Annuity products such as Pension Risk Transfer (PRT), SPIAs, DIAs, QLACs, Longevity Swaps
  • Institutional products such as BOLI, COLI, Stable Value Wraps, GICs
  • Life Protection products such as Whole Life, Endowments, Universal Life, Variable Life, Secondary Guarantee (ULSG)
  • Medical Coverage products such as LTC, Disability, Hospitalization, Surgery, Cancer



Responsibilities

  • Performs US GAAP, US Statutory and US Tax valuation for life and annuity reinsurance and direct businessDevelops, maintains, and/or reviews actuarial models in Prophet and other applications, including setting up and maintaining
  • assumptions
  • Develops actuarial models
  • Identifies, implements, and enhances governance and control infrastructure
  • Develops experience studies and makes recommendations on updating actuarial assumptions
  • Maintains and enhances documentation
  • Develops projections for financial planning and analysis and investigates major drivers of variance
  • 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
  • Remains current in profession and industry trends



Requirements

Position Responsibilities:

  • Performs US GAAP, US Statutory and US Tax valuation for life and annuity reinsurance and direct business
  • Develops, maintains, and/or reviews actuarial models in Prophet and other applications, including setting up and maintaining appropriate assumptions
  • Develops actuarial models
  • Identifies, implements, and enhances governance and control infrastructure
  • Develops experience studies and makes recommendations on updating actuarial assumptions
  • Maintains and enhances documentation
  • Develops projections for financial planning and analysis and investigates major drivers of variance
  • 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
  • Remains current in profession and industry trends
  • Maintains regular and predictable attendance
  • Performs other duties as required


Required Qualifications:

  • 1+ SOA ASA-level exams passed
  • 0+ years of actuarial experience in life insurance/reinsurance
  • PC and technical skills, including database applications (Access, Oracle, SQL, or equivalent), spreadsheets, statistical programs, and actuarial software (AXIS, Prophet, or equivalent)
  • Understanding of local reporting and regulatory environments
  • Understanding of insurance financial metrics and analysis techniques


Preferred Qualifications:

  • MAAA accreditation
  • Management experience
  • Bachelor's degree in Math, Finance, Computer Science, or related field



Company Overview

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