AVP, Actuary
Location
United States
Posted
16 days ago
Salary
$166.9K - $225.8K / year
Seniority
Mid Level
No structured requirement data.
Job Description
AVP, Actuary
hannoverre
Role Description The purpose of the role is to ensure the financial success of Life Solutions through development and implementation of compelling reinsurance solutions for the company’s clients that achieve appropriate returns relative to the risk profiles assumed by Hannover Re affiliates. Involves close cooperation with a variety of disciplines that interface with new business generation, including Accounting, Finance and Reporting, Local and Group Risk Management, Global Investment Management, and internal and external legal counsel. Role is primarily focused on the modelling of various reinsurance and structured transactions, pricing according to local and group underwriting guidelines and regulatory requirements, oversight of direct and retrocession agreements and transaction documentation, and coordinating the implementation of these transactions. Essential Functions - (40%) Structuring and Pricing: - Structures and prices transactions, including reviewing and analyzing historical experience on the underlying business. - Develops appropriate pricing assumptions and actuarial models, projecting cash flows and financial results. - Documents pricing work in a form that facilitates peer review, internal approvals, and communication of transaction details. - Achieves an attractive risk/return profile for the company on new transactions while complying with all applicable underwriting guidelines and regulatory requirements. - (20%) Deal Management: - Collaborates with clients to ensure that all data and documentation required throughout the pricing process is obtained. - Communicates with clients to keep them informed of any issues that arise during the structuring and pricing process. - (15%) Treaty Construction: - Collaborates with internal and external counsel and clients to produce reinsurance treaties and contract documentation. - Ensures that contractual obligations undertaken by the company are consistent with the pricing, structuring, and model work undertaken for the transaction. - (15%) Implementation: - Liaises with different functional units within the company to ensure the efficient implementation and management of new transactions. - Works with the company’s internal retrocession partners to obtain retrocession coverage where necessary. - Ensures that the transaction optimizes the regulatory, capital and tax position of the company and group. - (10%) Research & Development: - Research regulatory developments, differences between various accounting standards, developments in tax law changes, product development and filings, client developments, and other aspects necessary to ensure the relevance and value of life reinsurance solutions. Qualifications - Undergraduate degree in Mathematics, Statistics or Actuarial Science or similar. - Fellow of the Society of Actuaries (or ASA with equivalent experience). - Minimum six years’ experience pricing various kinds of insurance and annuities. - Ability to read, analyze, manipulate, and interpret complex, technical documents and data. - Ability to analyze large amounts of information in an organized manner, identify issues or inconsistencies, fill in any information gaps and draw accurate sound conclusions. - Ability to quickly conceptualize the most efficient design for complicated transactions. - Significant experience in valuation and pricing of life insurance products. - Experience with and working knowledge of reinsurance for life insurance products. Requirements - Technical Modelling Capabilities. - Decision Quality. - Project Management. - Communicates Effectively. Benefits - Comprehensive medical, dental, and vision. - Paid Time Off (PTO). - Company provided life insurance and disability benefits. - 401(k) and profit sharing. - Additional ancillary benefits available. Compensation - $166,900 - $225,800 (Inclusive of Base + Bonus).
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