AVP, Actuary

You can look forward to

*Preferred Candidate Has Been Identified

Job Summary:

Serves as a lead pricing actuary and deal lead for assigned Traditional Life reinsurance opportunities and is responsible for coordinating the evaluation, pricing, documentation, and implementation of transactions. The role partners closely with Marketing, Underwriting, Data Analytics, Finance, Risk Management, Treaty, Retrocession, and other internal stakeholders, while serving as a primary actuarial contact for clients throughout the quoting process. Key responsibilities include developing pricing strategies and assumptions, directing deal-team analysis, ensuring compliance with pricing and underwriting guidelines, communicating recommendations to senior management and clients, and supporting the successful transition of accepted quotes to implementation and ongoing management. 

Essential Functions:

(35%) Deal Leadership and Pricing

• Leads assigned Traditional Life reinsurance opportunities from initial evaluation through quote approval and execution. Reviews product and treaty specifications, analyzes historical and industry experience, develops and documents appropriate assumptions, projects financial outcomes, evaluates key risks and sensitivities, and recommends structures and pricing that achieve an appropriate risk/return profile.
• Documents pricing work in a form that facilitates peer review, internal approvals, and communication of transaction details throughout the company and Group. Achieves an attractive risk/return profile for the company while complying with applicable underwriting guidelines and regulatory requirements. 

(20%) Deal-Team Coordination and Development

• Coordinates cross-functional deal teams, establishes work plans and timelines, delegates modelling and analytical work appropriately, reviews work for quality and completeness, resolves issues, and keeps internal stakeholders informed of status, decisions, dependencies, and risks.
• Coaches and mentors actuarial associates and other team members to support development of actuarial associates and analysts. 

(15%) Client and Business Partnership 

• Works with clients to develop new business opportunities and ensure that data and documentation required throughout the pricing process are obtained and that the developing structure continues to meet client needs.
• Keeps clients informed of issues that may affect execution timelines, transaction structures, or pricing. Partners with Marketing, Underwriting, and Data Analytics to identify solutions that address client needs and improve Hannover Re’s competitive position. Presents pricing conclusions and technical concepts clearly to clients and senior management. 

(15%) Governance, Documentation, and Treaty Support 

• Works with internal and external counsel and clients to produce reinsurance treaties and contract documentation that accurately describe the transaction structure, pricing, and obligations of the counterparties. Ensures contractual obligations are consistent with the pricing and structuring work undertaken for the transaction.
• Ensures required pricing documentation, peer review, governance, and approval materials are complete, accurate, and consistent with applicable local and Group guidelines.

(10%) Implementation and Inforce Support 

• Coordinates the transfer of accepted quotes and pricing requirements to Treaty, Accounting, Administration, Corporate Actuarial, Finance, and other functional areas to support accurate and timely implementation. 
• Supports evaluation of open treaties and inforce business when changes in sales, underwriting, product design, experience, or assumptions could affect expected profitability.

(5%) Research and Continuous Improvement 

• Researches regulatory developments, product filings, client developments, emerging experience, and market trends relevant to Traditional Life pricing. Supports development and maintenance of pricing assumptions, models, guidelines, tools, and processes that improve quality, consistency, speed, and decision usefulness. 

You come equipped with

Competencies:

• Communicates Effectively
• Manages Complexity
• Decision Quality
• Drives Results
• Collaborates

Essential Knowledge, Skills, and Abilities:

• 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 five years of relevant actuarial experience, including significant experience pricing life insurance or life reinsurance opportunities
• Demonstrated ability to manage multiple projects and communicate technical concepts effectively
• Ability to read, analyze, manipulate, and interpret complex technical documents and data; identify issues or information gaps; and draw accurate, well-supported conclusions
• Strong knowledge of life insurance products, reinsurance structures, actuarial assumptions, financial projection methods, and U.S. statutory and GAAP/IFRS accounting concepts
• Advanced capability with actuarial modelling and analytical tools, spreadsheet applications, and Microsoft Office
• Excellent oral, written, interpersonal, and presentation skills 

Desired Knowledge, Skills, and Abilities:

• Working knowledge of multi-jurisdictional tax and capital requirements
• Experience reviewing actuarial work and providing guidance to junior associates
• Experience with reinsurance pricing applications such as Risk Agility, MG-ALFA, AXIS, R, Python, SQL, or similar tools
• Knowledge of retrocession, treaty construction, automated or accelerated underwriting, and data-driven mortality analysis 

Travel:

• Up to 15%, primarily domestic travel for client meetings, team meetings, and industry conferences, with overnight stays expected.      

Compensation (Inclusive of Base + Bonus):

• $170,700 - $230,900