Senior Actuarial Manager, Annuities

3 weeks ago

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

About Berkshire Hathaway Group, Reinsurance Division

The Berkshire Hathaway brand is recognized for its commitment to trust, integrity, and responsible risk management. Our enduring reputation is built on the actions of our dedicated team members who embody these values daily. Our robust financial foundation allows us to offer consistent 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 to reinsurers across the United States, Canada, Asia, and Europe. We pride ourselves on being a financially sound and diversified organization, willing to take on substantial risks with a long-term investment perspective and a greater tolerance for volatility. Our division also specializes in reinsuring variable annuities and provides support for financial reporting related to structured settlement annuities in the U.S. At BHG Re, we foster a collaborative and nurturing environment that encourages professional growth and learning.

Position Overview

We invite applications from qualified candidates of diverse backgrounds. We seek a curious, self-driven, and well-rounded professional to join our Annuities Team as a key contributor. In this role, you will collaborate closely with experienced actuaries and oversee a team of actuarial analysts responsible for the valuation of our structured settlement annuities and variable annuity operations. This position offers a unique opportunity to engage with U.S. regulatory standards, gain valuable insights into reinsurance, and acquire experience in designing valuation systems and processes to support new business expansion. You will report 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 operations under U.S. GAAP (LDTI) and U.S. Statutory (NAIC) standards;
  • 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 and oversee their daily activities. Coach, mentor, and develop actuarial staff while promoting a culture of teamwork;
  • Assist the Chief Actuary with the annual asset adequacy analysis for U.S. entities;
  • Monitor the U.S. regulatory landscape, assess existing valuation processes and systems, and propose, design, and implement process enhancements to accommodate expanding lines of business and facilitate analysis;
  • Ensure that processes are equipped with appropriate controls and adhere to 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/reinsurance environment is essential;
· Experience in an actuarial valuation capacity and familiarity with U.S. reporting standards is preferred;
· Proven people management abilities, with a capacity to lead and influence effectively;
· Strong technical acumen and problem-solving skills;
· Excellent verbal and written communication capabilities;
· Experience presenting to senior leadership;
· High attention to detail;
· Knowledge and experience with Moody's AXIS is advantageous.

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