Pricing Actuary

2 months ago

London, United Kingdom Reinsurance Group of America Full time

Position Overview

An exciting opportunity has arisen at Reinsurance Group of America (RGA) for a Nearly or Newly Qualified Pricing Actuary to support the growth of the Global Financial Solutions (GFS) Pricing Team whilst, in return, being supported through the early stages of their actuarial career.

The key responsibility of this role is the pricing, modelling, and documentation of new business quotations, covering a wide variety of reinsurance transactions (longevity, asset intensive and capital solutions) throughout Europe. The role will also entail research and development of areas of pricing expertise, as required. The environment is dynamic and career progression and development is an integral part of the job.

Responsibilities

Contribute to the production of quotations for reinsurance transactions. Over time, the successful candidate will gain exposure to longevity, asset intensive and financial reinsurance opportunities. Produce documentation for each quote summarising the pricing assumptions, results, and financial projections. Provide pricing recommendation to senior stakeholders, communicating key risks and areas where actuarial judgement was required. Work on / lead allocated projects and participate in the ongoing development and/or research of pricing methods and procedures under the guidance of senior actuaries within the team. Ensure the Senior Pricing Actuary and other key stakeholders are kept informed of progress and issues that have to be resolved on quotations and research projects. Demonstrate a detailed understanding of RGA clients’ products and objectives and build relationships with client actuaries and other professionals, as well as with RGA colleagues globally. Develop a thorough understanding of RGA’s pricing standards and philosophy. Develop a solid understanding of pricing techniques across various reinsurance solutions. Maintain professional and technical knowledge through attending workshops and conferences. Assist the GFS risk management personnel with monitoring experience of in-force treaties. Contribute to knowledge sharing initiatives within the team and effectively communicate and collaborate with other members of the pricing team and other departments throughout RGA internationally, especially our operations, investment, and finance teams.

Requirements

We always have room for motivated, energetic, and proactive team-players, who can demonstrate initiative and contribute to the collaborative spirit within the company and team.

Required:

Degree in Maths, Finance, Statistics, Actuarial Science, Computer Science, or related field. Nearly or Newly Qualified, with FIA (or equivalent) Certification. 3+ years of actuarial experience in Life Insurance/Reinsurance. Proven knowledge of life insurance, health insurance, longevity, and/or annuity products. Technically and analytically strong, with the ability to challenge and enhance existing methodologies. Strong general IT skills with experience in developing models using Excel and/or actuarial modelling systems. Ability to manage time effectively, focusing on priorities, targets, and deadlines. A desire to continue to learn, a proactive approach and ability to research information with a reasonable degree of independence. Strong interpersonal skills (including oral and written communication skills); with the ability to interact with employees at all levels and across different departments and negotiate and influence others.

Preferred:

The following are not requirements, but previous experience in some or all the below could be advantageous:

Previous reinsurance, structuring, pricing, product design, ALM or risk management experience. Financial reinsurance, asset-intensive, or longevity pricing experience. Knowledge of key financial reporting, accounting, and solvency regimes, including (but not limited to):
US GAAP, IFRS, and Solvency II. Experience in actuarial applications including (but not limited to) Prophet, MoSes, and/or AXIS. Advanced PC and technical skills including (but not limited to): spreadsheets (VBA), database applications (Access, Oracle, SQL, or equivalent technology), statistical programs, and one or more computing languages (e.g., R, Python).

RGA’s Commitment to Diversity, Equity, and Inclusion

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

We support hybrid and flexible ways of working and would welcome a discussion on how we can balance what is important to you with business requirements during the recruitment process.

What can RGA offer you?

Competitive salary Financial support with reference to Qualifications and Learning and Development Courses. 26 Days Annual Leave, Plus Bank Holidays. Pension Package. Private Medical Insurance Life Assurance. Group Income Protection.

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