VP, Actuary

  • 37487
  • Life - Actuarial
  • |
  • Florida, United States
  • |
  • Jun 4, 2020
Reinsurance
RESPONSIBILITIES
  • Structures and prices new business unit transactions, including reviewing and analyzing historical experience on the underlying business, developing appropriate pricing assumptions, projecting cash flows and financial results, and developing a transaction structure in cooperation with the SVP in charge of the product line to deliver structures to our clients.
  • Documents pricing work in a form that facilitates peer review, internal approvals, and communication of the details of the transaction throughout the company and group.
  • Achieves an attractive risk/return profile for the company on new transactions while complying with all applicable underwriting guidelines and regulatory requirements.
  • Manages actuarial students and others as part of a deal team with assigned responsibility for specific transactions.
  • Delegates pricing work to the maximum extent possible and maintains a focus on the strategic development of the business and the high-level management of the pricing process.
  • Works with clients to help source and develop new business opportunities and ensure that all data and documentation required throughout the pricing process is obtained, and that the developing structure continues to meet the clients’ needs from a business perspective.
  • Keeps clients informed of any issues that arise during the structuring and pricing process that may impact the clients’ desired execution timelines or that may necessitate changes to the originally contemplated transaction structures or pricing.
  • Works with the SVP responsible for Life Solutions business, the VP’s of Marketing and Structured Solutions to develop and expand the Life Solutions line of business and manage the pricing process for new business opportunities efficiently from the perspective of both our clients and relevant internal constituencies, as well as contributing to the strategic development of future opportunities for the line of business.
  • Works with internal and external counsel and with clients to produce reinsurance treaties and contract documentation that accurately describe the transaction structure and pricing and the obligations of the counterparties.
  • Ensures that contractual obligations undertaken by the company are consistent with the pricing and structuring work undertaken for the transaction.
  • Liaises with different functional units within the company to ensure the efficient implementation and management of new business unit transactions.
  • Works with the company’s internal retrocession partners to obtain retrocession coverage where necessary, and other forms of credit support.
  • Take all steps necessary to place the transaction internally on a basis that optimizes the regulatory, capital and tax position of the company and group.
QUALIFICATIONS
  • Undergraduate degree in Mathematics, Statistics or Actuarial Science.
  • Fellow of the Society of Actuaries and Member of the American Academy of Actuaries or its equivalent.
  • Minimum 10 years’ experience pricing various kinds of insurance and annuities.
  • Ability to read, analyze, manipulate, and interpret complex, technical documents and data.
  • Experience with complicated spreadsheet applications, including Visual Basic for Applications.
  • Ability to analyze large amounts of information in an organized manner, identify issues or inconsistencies, fill in any information gaps and draw accurate sound conclusions.
  • Ability to quickly conceptualize the most efficient design for a complicated transactions.
  • Significant experience in pricing life reinsurance opportunities.
  • Excellent verbal, written and interpersonal communication and presentation skills. Ability to respond effectively to the inquiries from employees and management.
  • Advanced in Microsoft PC software: Excel, Word, Access, Outlook.
  • Desired:
  • Working knowledge of U.S. statutory, tax and GAAP/IFRS accounting for life products.
  • Working knowledge of multi-jurisdictional tax and capital requirements.
  • Supervisory/Managerial experience.
  • Reinsurance pricing applications.