Business Development Actuary

  • 33879
  • Life - Actuarial
  • |
  • North Carolina, United States
  • |
  • Jul 10, 2018
Reinsurance
RESPONSIBILITIES
  • Understand current share of wallet for existing clients and develop ideas and solutions to increase share.
  • Build relationships and contribute to developing solutions to add new target accounts to our client base.
  • Own client account relationships and form account strategies for business growth.
  • Work closely with the Regional Sales VP and the client to gain mutual understanding of their and company's parameters for a mutually beneficial arrangement for key accounts.
  • Identify client- or competition-based red flags, develop a plan and recruit resources to overcome.
  • Build, maintain and improve professional relationships with the key decision makers within targeted accounts through both live deal negotiations and accompanying the Regional Sales VP on select planned client visits and phone meetings.
  • Participate as needed in the marketing of traditional Life.
  • Help to improve the efficiency of the company's New Business Acquisition activities by understanding client's reinsurance decision making process.
  • Help to better position within the marketplace by soliciting input from clients as regards emerging industry trends and competitive intelligence.
  • Help to achieve organizational branding goals by writing for the company’s client newsletters and industry publications, and attending and participating at targeted industry conferences.
  • Gain expertise and credibility by participating or serving on relevant industry committees.
  • Together with the Regional Sales VP, Marketing and Strategy teams, perform client segmentation activities which support New business acquisitions goals.
  • Create or assist in the development of client-specific strategies and update as necessary.
  • Lead the regional client team and management in facilitating effective, profitable solution design and execution from RFP to LOI.
  • Assist the regional client team as needed to ensure solutions are finalized and implemented in accordance with policies and practices.
  • Work with the Pricing Actuary to accurately develop a commercial best-estimate assumption set.
  • Communicate deal circumstances, planned terms and conditions, key client changes, etc., possibly challenging existing pricing standards in favor of a custom approach that more accurately reflects the underlying risk.
  • Support the Pricing Team in ensuring the rational application of pricing policies, procedures and techniques to the valuation of new business opportunities.
  • Manage Business Review for all potential deals and lead-present all deals with emphasis on fundamentally understanding and communicating the rationale for the deal and the chosen profit target, the risk associated with the deal, specific mitigation employed, our competitive position, outstanding issues and steps/effort needed to close.
  • Lead Pricing Committee presentations by providing context and background for the deal, by communicating key risks identified and mitigation employed, with the Pricing Actuary, communicating the impact of deal-specific circumstances, terms and conditions on pricing assumptions chosen.
  • Provide New Business Acquisition Management with information required to drive its evolving reporting process.
  • Work with client teams to manage ongoing or historical technical or business issues with customers, including resolution of amendment requests, finalizing outstanding treaties or negotiating exceptions to previously agreed requirements
  • May perform other duties as required
QUALIFICATIONS
  • Bachelor of Arts or Science in Actuarial Science, Mathematics, or related field.
  • FCIA and/or FSA designation required.
  • 7-10 years of Life insurance reinsurance experience in actuarial and business positions of increasing responsibility.
  • A thorough technical grounding in insurance pricing and needs of direct writers.
  • 3 years of experience in making business decisions, demonstrating leadership of direct or indirect teams.
  • Experience developing business solutions that are mutually beneficial to multiple stakeholders.
  • Demonstrated ability to build and maintain relationships.
  • Computer literate and comfortable with evolving communication technologies.
  • Experience with capital markets products preferred.
  • Effective interpersonal skills and professional presentation.
  • Exhibits a sense of urgency and a results orientation to both external and internal clients with a focus on New Business Acquisition.
  • Takes accountability to aggressively navigate toward Win-Win solutions for the company and external clients.
  • Effective multi-tasker with demonstrated comfort and ability to effectively prioritize and manage.