Senior Actuarial Manager, Annuities

3 weeks ago

Toronto, Ontario, Canada Berkshire Hathaway Group, Reinsurance Division Full time

Company Overview

The Berkshire Hathaway brand is recognized for its commitment to trust, integrity, and responsible risk management. Our reputation is built on the actions of our dedicated team members who embody these values in their daily work. Our robust financial standing allows us to offer reliable capacity and innovative, customized solutions, enabling us to underwrite significant, complex risks over the long term and instilling confidence in our clients.

Berkshire Hathaway Group, Reinsurance Division (BHG Re) stands out as a premier provider of life retrocession services to reinsurers across the United States, Canada, Asia, and Europe. Our organization is uniquely positioned, financially resilient, and diversified, with a strong appetite for substantial risks and a long-term investment perspective, making us more adaptable to market fluctuations. We also specialize in reinsurance for variable annuities and support financial reporting for structured settlement annuity businesses in the US. At BHG Re, we foster a collaborative and nurturing environment that encourages professional growth and development.

Position Overview

We invite applications from qualified candidates from diverse backgrounds. We seek a curious, self-driven, and well-rounded professional to join our Annuities Team as a crucial member. In this role, you will collaborate closely with experienced actuaries and lead a team of actuarial analysts responsible for the valuation of our structured settlement annuities and variable annuity portfolios. This position offers a unique opportunity to engage with regulatory standards in the US, gain valuable insights into reinsurance, and acquire experience in designing valuation systems and processes to support business expansion. The role reports directly to the Chief Actuary.

Key Responsibilities

  • Lead a team of actuarial analysts in the valuation, analysis, and reporting (including regulatory reports, disclosures, and results presentations) of the variable annuity reinsurance business and direct sales structured settlement and other fixed annuity products under US GAAP (LDTI) and US Statutory (NAIC) frameworks;
  • Review and recommend assumptions, conduct experience studies as necessary, and collaborate with third-party service providers on these studies;
  • Manage the performance of direct reports, overseeing their daily activities while coaching, mentoring, and developing actuarial staff to foster teamwork;
  • Support the Chief Actuary in conducting the annual asset adequacy analysis for US entities;
  • Monitor the US regulatory landscape, evaluate existing valuation processes and systems, and propose, design, and assist in implementing process enhancements to accommodate expanding lines of business and facilitate analysis;
  • Ensure that processes are equipped with appropriate controls and comply with actuarial and regulatory standards in the United States and Europe;
  • Engage in special projects (including pricing of annuity blocks) as directed by Senior Management.

Qualifications

· Required: Fellow of the Society of Actuaries (FSA) designation;

· Preferred: Fellow of the Canadian Institute of Actuaries (FCIA) designation;

· Minimum of 7 years of experience in a life insurance or reinsurance company;

· Preferred experience in an actuarial valuation role with knowledge of US reporting standards;

· Strong leadership skills with the ability to influence and manage teams;

· Excellent technical skills with a strong analytical and problem-solving ability;

· Proficient verbal and written communication skills;

· Experience in presenting to senior management;

· High attention to detail;

· Familiarity with Moody's AXIS is a plus.

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