Longevity Risk Management Specialist

4 weeks ago

Toronto, Ontario, Canada Reinsurance Group of America Full time

Role Overview

Reinsurance Group of America's Global Financial Solutions (GFS) department is a key contributor to the company's consolidated income, accounting for over 50% of the total. The GFS Longevity Risk Management team is responsible for managing the effective inforce and risk associated with longevity risk, which amounts to over $70 billion in benefit obligations. This role will play a crucial part in ensuring the longevity line of business remains a vital component of GFS and RGA's long-term success.

Key Responsibilities

  • Drive efficiency improvements in longevity and collateral systems and processes
  • Effectively manage globally assumed products with longevity risk, ensuring optimal risk and inforce management
  • Leverage inforce value through actionable analytics and business insights
  • Support new business growth initiatives

Inforce Management

  • Collateral Management: Maintain, enhance, and develop collateral models to estimate current and ongoing collateral needs
  • Retrocession Management: Manage external retrocession arrangements, provide required reporting, and ensure compliance with treaty terms
  • Data, Experience, and Performance Analysis: Analyze data changes in the inforce file, work with clients to establish revised premium and financial settlements, and develop performance and trend metrics from inforce experience studies

Risk Management

  • New Business Reviews: Conduct comprehensive risk assessments for proposed new transactions, highlighting potential areas of heightened risk and providing feedback to support deal teams in treaty negotiations
  • 2nd Line of Defense and Risk Assessments: Enhance the framework for monitoring risk metrics, ensure effective monitoring of risk limits and Key Risk Indicators (KRIs), and escalate issues with actionable recommendations

Leadership and Coaching

  • Manage junior staff and co-op student performance to support department goals and objectives
  • Support the development of junior staff and drive team engagement

Requirements

  • Fellowship in a recognized actuarial organization (FSA, FIA, FCAS, FIAA) preferred
  • Chartered Financial Analyst (CFA) or demonstrated knowledge of investments and capital markets
  • 7+ years' experience, with at least 4 years post-qualification experience
  • Undergraduate degree in a related field
  • Experience with actuarial modeling software (Prophet and/or AXIS)
  • Advanced knowledge of life, health, and/or annuity products
  • Excellent written and verbal communication skills
  • Advanced interpersonal skills
  • Effective project management skills
  • Ability to work independently and within a team environment

Preferred Qualifications

  • Previous reinsurance and valuation work experience
  • Knowledge of IFRS, LDTI, Solvency 2
  • Advanced modeling and technical skills
  • Knowledge of Treasury, Trade Operations, Trust Management
  • Experience with GFS lines of business
  • Experience with people management and leadership

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