Reporting to the Head of Pricing, the person in this position will be a key member of the Asian actuarial pricing team and will be called upon to assist local branch and representative offices in all actuarial responsibilities including pricing, product design, product development and occasional marketing.
Additionally, supporting the maintenance and improvement of existing pricing infrastructure, risk management and control initiatives will round out the other responsibilities of the position.
The person in the role will work very closely with the regional pricing team on predominantly traditional pricing related activities.
Given the likely focus of other developing opportunities, there may also be some crossover into the liability-side pricing of capitally motivated reinsurance transactions as priorities emerge.
Key Relationships (Internal & External) :
Regional functional leaders and team members
Chief Pricing Actuary (Asian Markets)
Local Chief Pricing Actuaries in Asia
Pricing Actuaries in the region
Provide pricing and risk analysis support to RGA offices within the Region (and elsewhere as required) when needed for the pricing of reinsurance proposals that fall outside local authorities.
Coordinate any additional pricing resources to assist these offices when needed for the pricing of these opportunities;
Act in a peer review capacity for reinsurance quotations within the Region (and elsewhere as required including the review of assumptions and / or methodology used in a proposed transaction to ensure they meet Corporate and Divisional guidelines and utilize sound actuarial techniques.
Assist with technical and peer reviews of the pricing of non-traditional transactions;
Coordinate and / or assist local offices with gathering and analyzing information from companies on potential reinsurance transactions or opportunities;
Assess and review risk exposure in potential transactions and suggest and report on possible avenues for further analysis if required.
Discuss and present this information to local offices and management;
Provide training or instruction which familiarizes new starters with Corporate and Divisional pricing standards and practices.
Assist with training or instruction with respect to how to efficiently use AXIS and other modelling tools to price business with the Region (or wider area as required).
Assist or coordinate training or instruction with respect to the use of AXIS for new risks or initiatives (e.g. PBEC);
Assist with the maintenance and peer review of pricing bases for business written in the Region (or other areas as requested).
Together with the Chief Pricing Actuary (Asia Pacific) ensure regular reviews and updates of pricing bases are conducted at the local level and that results of these reviews are properly disseminated to appropriate Divisional counterparts;
Coordinate or project manage the implementation of Divisional risk pricing or risk control measures or initiatives. Review, monitor and suggest updates or improvements to the Divisional corporate governance framework.
Act proactively to identify emerging areas of risk and include or suggest appropriate controls or action. Develop best practice modelling or other tools to efficiently and accurately assess the risks of the business.
Encourage the use of best practice techniques for all aspects of the pricing quote process;
Assist with the analysis and review of retention structures, business flows, insurance risk appetite, risk volatility, and risk aggregations and suggest or implement suitable recommendations and measures;
Provide pricing and risk analysis support to RGA offices within the Region (or wider as required) by reviewing and coordinating the development of computer models and financial projections of reinsurance proposals.
Identify and suggest or implement possible avenues for improvement or standardization throughout the Region or Division;
Manage or assist with pricing audits and actuarial reviews of local office pricing results or exercises within the Division.
Ensure that management responses and commitments are properly actioned and followed through to satisfactory resolution;
Discuss reinsurance terms, structures and objectives with local offices covered under the Region;
Coordinate, review and / or assist with research and development for the pricing of new or emerging products in RGA markets;
Manage and / or support client development initiatives in the Region (or wider as required) including assisting regional actuarial personnel in their marketing activities;
Assist Divisional or local corporate actuarial areas as practicable or as required as pertaining to the Region.
Accreditation as a fellow or associate in a globally recognized actuarial association (e.g. U.S., Canada, Australia, UK or equivalent)
5+ years full-time work experience (or equivalent) in life insurance or reinsurance
Skills & Competencies :
Ability to travel internationally for durations of 1-2 weeks, 3 4 times per year
Asian language skills desirable
Knowledge of Asian life insurance markets and product lines highly regarded
Solid understanding of various Individual life insurance products
Strong client service focus
Strong communication skills both written and verbal
Programing Language and Database skills (eg R, VBA)
Advanced MS Office suite - Excel, Word, Powerpoint, Access
Highly motivated, results oriented and solutions focused
Strong attention to detail
Reinsurance Group of America, Incorporated (NYSE : RGA) is one of the largest global providers of life reinsurance, with offices around the world.
RGA delivers expert solutions in individual life reinsurance, individual living benefits reinsurance, group reinsurance, financial solutions, facultative underwriting and product development.
With operations in 26 countries, we support our clients and partners around the world with innovative approaches and customized solutions.
What do you think? Better yet, how do you think? Have we piqued your curiosity? Consider a career with RGA. It’s the logical choice.