VP, Actuary

Hannover Life Reassurance Company of America (Hannover Re) is currently seeking talented candidates for a full-time VP, Actuary position, within the CSS – Corporate Actuarial 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

The VP, Actuary has the following primary responsibilities:

• Leads the team responsible for the actuarial modelling of traditional Life Solutions business. This includes responsibility for enhancing granularity of models; developing and maintaining associated processes, tools and documentation; transitioning pricing models to valuation models; maintaining strong model governance protocols; and developing and overseeing a team of actuarial associates
• Leads the team responsible for populating the Seriatim Data Warehouse. This includes responsibility for coordinating production schedules with stakeholder group as well as owning and overseeing the maintenance and continual improvement of the systems used to store this data.
• Owns and oversees the maintenance and continual improvement of the actuarial platform used to generate projected cash flows, the associated code, the related databases that support financial reporting and related actuarial function.
• Owns and oversees the systems and tools used in the financial reporting and related processes for the traditional Life Solutions business to ensure these are optimized.

Essential Functions:

(45%) Actuarial Modelling Function:

• Collaboratively prioritize modelling initiatives taking into account needs of the relevant stakeholder group, including modelling, operations, valuation, and experience analysis.
• Oversee and deliver all material aspects of the modelling needs for the traditional Life Solutions valuation team including the ongoing maintenance and enhancement of existing models with accompanying documentation and change impacts, new model functionality development and testing, conversion of new business pricing models to valuation models on a timely basis (including modelling of amendments), address validation issues raised by validation processes and / or premium rate validation team, development and maintenance of tools and processes to track model function progress.
• Coordination with pricing to provide input as treaty terms are being negotiated so as to anticipate and avoid potential implementation challenges that may arise.
• Identify, implement and maintain strong model governance procedures including associated documentation.
• Establish and maintain effective and working relationships and processes between modelling team and key stakeholders.
• Hire, train and manage modelling function team members.

(15%) Actuarial Infrastructure Function :

• Oversight of Corporate Model Steward function which serves to ensure actuarial modelling capabilities including the associated grid remain current and fit for purpose, model changes are reviewed independently from those implementing changes, and changes have only the intended effects when promoted to production environment and provides user support for actuarial projection software users.
• Oversight and ownership of financial reporting databases used to develop inforce files, store actuarial assumptions, manage model output and related tools. Ensures that effective controls and change management procedures are in place including associated documentation.
• Coordinates and collaborates with IT Team who oversee compute capacity and corporate software.

(35%) Reporting Systems and Tools Function:

• Responsible for oversight, ongoing enhancement and optimization of financial reporting systems and tools for the traditional mortality solutions valuation, financial reporting, and assumption monitoring.
• Reviews traditional mortality solutions financial reporting processes in coordination with the VP Actuary responsible for the valuation to identify potential areas of inefficiency and risk. Leads a team to design and implement enhancements to current processes including the introduction of new applications.
• Evaluates and assesses actuarial models and assumption setting processes with the valuation function to identify potential opportunities to optimize the level at which business is reviewed, managed, projected, etc.
• Responsible for formulation of recommendations aimed at creating operational efficiencies, increasing alignment of reporting processes across various financial reporting basis and business segment groups, improving the timeliness and reliability of financial results, reducing financial reporting risks and strengthening financial reporting controls.
• Build consensus with k