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Toronto, Ontario, Canada Reinsurance Group of America Full timeJob SummaryWe are seeking an experienced Actuary to join our team as a Collateral Risk Management Specialist. In this role, you will be responsible for driving efficiencies in longevity and collateral systems and processes, effective risk and inforce management of globally assumed products with longevity risk, and leveraging the value in the inforce through...
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Toronto, Ontario, Canada Reinsurance Group of America Full timeJob Title: Actuary, GFS Longevity Inforce and Risk ManagementReinsurance Group of America (RGA) is seeking an experienced Actuary to join our Global Financial Solutions (GFS) team. As an Actuary, you will play a key role in the effective inforce and risk management of longevity risk assumed globally, which represents over $70 billion in benefit...
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Toronto, Ontario, Canada Reinsurance Group of America Full timeJob Title: Actuary, GFS Longevity Inforce and Risk ManagementReinsurance Group of America (RGA) is seeking an experienced Actuary to join our Global Financial Solutions (GFS) team. As an Actuary, you will play a key role in the effective inforce and risk management of longevity risk assumed globally, which represents over $70 billion in benefit...
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Toronto, Ontario, Canada RGA Reinsurance Company Full timePosition OverviewGlobal Financial Solutions (GFS) is a key contributor to RGA's consolidated income, accounting for over 50% of the company's revenue. The Longevity line of business is one of RGA's fastest-growing lines of business, with significant opportunities for growth and development.Job SummaryThe GFS Longevity Risk Management team is responsible for...
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Toronto, Ontario, Canada RGA Reinsurance Company Full timePosition OverviewGlobal Financial Solutions (GFS) is a key contributor to RGA's consolidated income, accounting for over 50% of the company's revenue. The Longevity line of business is one of RGA's fastest-growing lines of business, with significant opportunities for growth and development.Job SummaryThe GFS Longevity Risk Management team is responsible for...
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Toronto, Ontario, Canada RGA Reinsurance Company Full timeGlobal Financial Solutions (GFS) is a key driver of RGA's consolidated income, accounting for over 50% of the company's revenue. The Longevity line of business is one of RGA's fastest-growing lines of business, and the GFS Longevity Risk Management team plays a critical role in ensuring the effective inforce and risk management of longevity risks. The team...
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Toronto, Ontario, Canada RGA Reinsurance Company Full timePosition OverviewGlobal Financial Solutions (GFS) is a key contributor to RGA's consolidated income, accounting for over 50% of the company's revenue. The Longevity line of business is one of RGA's fastest-growing lines of business, driven by the increasing demand for innovative solutions to manage longevity risk. The GFS Longevity Risk Management team plays...
VP & Actuary, Collateral, GFS
3 months ago
Position Overview
Global Financial Solutions (GFS) accounts for over 50% of RGA's consolidated income. The longevity line of business is one of RGA's fastest growing lines of business with benefit obligations in excess of $70 billion. Development of inforce and risk management as well as collateral processes for this line of business is continuing be developed and refined. The incumbent will be a key player in ensuring that the longevity line of business is managed to a standard at least as rigorous as that of RGA's other lines of business.
Responsibilities
Collateral Management
- Take a wholistic approach across all GFS product lines to enhance collateral performance
- Lead design and development of new approaches to collateral management to drive industry-leading innovations and differentiation in the marketplace
- Utilize experience studies and work with the teams that actively monitor inforce experience to optimize collateral and support organizational balance sheet optimization efforts
- Partner with corporate partners to ensure consistency and alignment with corporate risk measures, investment philosophy, and strategic objectives
- Partner with GFS's market risk services and investment operations to consider derivative usage to achieve above objectives
Inforce Management
- Leverage an deep understanding of the dynamics which impact the income statement and balance sheet for this line of business to support product inforce management and product development teams in GFS
- Work with GFS product line leaders to improve the inforce business model for enhanced product level performance
- Serve as a contributor to the inforce risk management process, identifying and analyzing potential impacts to the risk management programs, product pricing, business mix, currency exposures, and assets under management
New Business Pre-Binding Review
- Leverage in-depth knowledge of assets and market risk support the assessment of risk and treaty reviews for proposed new transactions
- Provide guidance to deal teams, GFS Leadership, Structured Finance (and CLC), including recommendations for collateral packages, as well as new/developing collateral business processes
- Review the risk analysis and treaty documents for new or amended transactions, highlighting any potential areas heightened risk, providing feedback / recommendations to mitigate risk, escalating where necessary
- Provide a recommendation to VP Longevity & Capital Solutions Inforce & Risk Management and Collateral and Liquidity Committee (CLC) (upon request) prior to entering into new transactions as to its viability and manageability
Leadership and Management
- Develop functional (collateral) strategies and initiatives to support an overall vision and drive through to successful implementation
- Demonstrated ability to be a thought leader and change agent - design, drive and implement change, ensuring understanding, participation, and ownership amongst all impacted stakeholders
- Excellent ability to lead within and across teams with members spread across multiple geographies, particularly gaining cooperation from those members outside the direct chain of command, across a wide variety of operational, functional and technical disciplines
Requirements
- Fellowship in a recognized actuarial organization (FSA, FIA, FCAS, FIAA)
- CFA charterholder, CFA Institute
- 20+ years of progressive experience in insurance/reinsurance, investments, ALM, financial management, capital management, risk management
- Highly advanced capabilities in risk management and investments, specifically as it pertains to insurance risks such as mortality, longevity, policyholder behavior, and the interplay between assets and liability cashflows
- Advanced knowledge of a variety of global regulatory accounting and capital frameworks, including principles based economic capital
- Proven ability to analyze and improve business outcomes
- Strong oral and written communication skills including the ability to present regularly to C-suite executives and senior leaders
- Capable of liaising with individuals across a wide variety of operational, functional, geographical and technical disciplines
- Expert ability to challenge and enhance analytical capabilities
- Ability to make timely and effective decisions that lead to results
Preferred:
- Exposure to non-insurance risks (operational, investment market and credit, capital, and strategic)
- Experience working in virtual and/or remote team environments
- Exposure to multiple global regulatory, accounting and capital regimes
- Previous experience with longevity reinsurance or PRT market
- Experience with other GFS lines of business - Asset Intensive, Financial Reinsurance
- Knowledge of US GAAP, IFRS, Solvency 2
Company Overview
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