Director

  • 34292
  • Life - Actuarial
  • |
  • Ontario, Canada
  • |
  • Sep 25, 2018
Reinsurance
RESPONSIBILITIES
  • Director, Reinsurance Solutions Pricing Management:
  • You will provide thought leadership on pricing methodology and best practices for Individual Life and Living Benefits business. Ownership of pricing manuals for individual reinsurance.
  • Actively challenge and review the company’s pricing assumptions alongside Biometric Research. Quantifying the impact of assumption changes on new business pricing in AXIS.
  • Facilitate communications with various actuarial departments - including Corporate Actuarial, Biometric Research, Enterprise Risk Management, and Inforce Management.
  • Monitor the performance of our Individual Life and Living Benefits new business portfolio and recommending management actions as needed.
  • Keep abreast of changes in the regulatory environment and home office guidelines. Understand the impact of these changes on our new business portfolio.
  • Represent the individual reinsurance team in the quarterly sales forecasts and business planning process.
  • Leads the assessment of the impact of inforce changes and exceptions to existing reinsurance treaties. Provide technical expertise on the subject.
  • Support executive and home office requests.
  • Investigate new product opportunities alongside the new business pricing team.
  • Ensure that the New Business Pricing team is aware of methodology and assumption changes.
  • Director, Reinsurance Solutions New Business Pricing:
  • You will lead the process for quotes ensuring an effective allocation of work for the department; ensure high quality delivery in a timely and efficient manner, follow internal guidelines and authorities; develop a close working relationship with other departments.
  • Use well developed data and expertise in pricing individual life and living benefits new business.
  • Understand the dynamics that impact the profitability of the business and uses this business acumen in evaluating new reinsurance opportunities.
  • Apply sound knowledge and understanding of reinsurance structures and treaty provisions, client’s risks and the company’s risk tolerance and standards.
  • Assess the impact of inforce changes and exceptions to existing reinsurance treaties.
  • Recommend and implement assumption and profit margins for specific Individual Life or Living Benefits quotes, when circumstances would warrant a deviation from standards.
  • Monitor relevant market developments with competitors, insurers, regulatory bodies, and apply this information to develop new pricing strategies or adjust existing ones.
  • Internally, build strong relationships with other departments; maintains regular communication, identifies opportunities for improvement and successfully address issues as they arise.
  • Address needs of clients in a timely, proactive and professional manner, advising management of any business issues impacting the company and/or the client, make recommendations and takes action to resolve concerns.
  • Ensure all key stakeholders are informed of any developments that may affect their ability to service Individual Life and/or Living Benefits clients.
  • Contribute to a high performance team that is highly engaged and recognized as experts both internally throughout the organization and externally amongst our clients.
  • Ensure all employees have a clear understanding of corporate and departmental objectives, and that every employee has challenging personal objectives.
  • Provide challenging tasks and assignments and holds frequent development discussions with employees to provide career growth and development.
QUALIFICATIONS
  • University Degree in Actuarial Science or similar.
  • FSA or ASA progressing towards attainment of FSA.
  • Keen strategic thinking, business acumen and problem solving skills.
  • Excellent analytical and abstract reasoning skills.
  • Experience with Moody’s AXIS is required.
  • 5 - 10 years in life re/insurance pricing and/or valuation area.
  • Superior attention to detail and accuracy.
  • Leadership abilities, with experience in developing a teamwork environment and a positive work environment and attitude in direct reports.
  • Ability to maintain effective relationships with clients and co-workers.
  • Demonstrated flexibility and effectiveness working under tight timelines.
  • Demonstrated ability to adapt in a dynamic environment.