AVP, Actuary

Hannover Re Services is currently seeking talented candidates for our open AVP, Actuary position. This is a Full-Time role within the Life Solutions department. Please see below for more information regarding the essential functions of this position, required qualifications, and how to apply.

You can look forward to

*A preferred candidate has been identified*

The purpose of the role is to ensure the financial success of Life Solutions through development and implementation of compelling reinsurance solutions for the company’s clients that achieve appropriate returns relative to the risk profiles assumed by Hannover Re affiliates. Involves close cooperation a variety of disciplines that interface with new business generation, including Accounting, Finance and Risk, Local and Group Risk Management, ICM, and Treaty.  Particular focus on the modelling of various deal structures, pricing according to local and group underwriting guidelines and regulatory requirements, oversight of direct and retrocession treaties and contract documentation development, and coordinating the implementation of business unit transactions.

Essential Functions:

(45%) Structuring and Pricing: 

Structures and prices new business unit transactions, including reviewing and analyzing historical experience on the underlying business, developing appropriate pricing assumptions and actuarial models, projecting cash flows and financial results, developing a transaction structure, and effectively presenting and communicating results to key internal stakeholders as well as 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.

(20%) Deal Management:

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.

(15%) Treaty Construction:

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.

(10%) Implementation:

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.

 

You come equipped with

Competencies:

• Technical modelling capabilities
• Project Management 
• Ability to read and construct technical documents
• Communicates effectively
• Decision quality

Essential knowledge, skills and abilities:

Education/Experience:
•    Undergraduate degree in Mathematics, Statistics or Actuarial Science.
•    Fellow of the Society of Actuaries (or ASA with equivalent experience)
•    Minimum five years’ experience pricing various kinds of insurance and annuities.
•    Ability to read, analyze, manipulate, and interpret complex, technical documents and data.  Ability to respond effectively to the inquiries from employees and management
•    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.

Computer Skills:
•    Microsoft PC software: Excel, Word, Access, Outlook 
•    Complicated spreadsheet applications, including Visual Basic for Applications (VBA). 

Language Ability:  
•    Must possess excellent oral and written communication and presentation skills

Desired knowledge, skills and abilities:

•    Working knowledge of U.S. statutory, tax a