SVP, Chief Actuary

Hannover Life Reassurance Company of America (Hannover Re) is currently seeking talented candidates for our open SVP, Chief Actuary position. This is a Full-Time role 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

Job Summary:

 

Reporting directly to the Chief Financial Officer (CFO), the SVP and Chief Actuary is responsible for providing leadership and effective oversight of key actuarial functions including:

• Strategic Initiatives:  Provide actuarial direction and leadership for a broad range of initiatives, ensuring alignment with the organization’s strategic objectives.
• Regulatory Compliance:  Ensure compliance and timely delivery for actuarial regulatory requirements relating to US regulated company, US captive, Bermuda regulated company and segregated accounts company. This includes statutory valuations, asset adequacy testing, and actuarial opinions
• Actuarial Valuation:  Oversight of quarterly technical valuation process for IFRS17 and Solvency II (and related economic measures) relating to all US originated business.  Ensure effective coordination with technical accounting teams and Financial Planning and Analysis functions.  
• Regulatory Developments:  Lead the organization in adhering to new reserving and related regulations and actuarial standards (e.g. principal-based reserving and IFRS17), overseeing methodology and implementation efforts.  
• Actuarial Liaison:  Serve as primary liaison for state regulators, external auditors, Hannover office counterparts and foreign affiliate on actuarial topics. 

 

Essential Functions:

 

(35%) Actuarial Leadership:

• Strategic Input: Deliver wide-ranging actuarial expertise for major organizational decisions, including assessing the viability of new reinsurance solutions, evaluating capital efficiency proposals, shaping accounting and actuarial methodologies, setting company performance
  targets, and interpreting new accounting standards.
• Operational Oversight: Lead and guide teams responsible for technical valuation, actuarial modeling, experience studies, assumption setting, and financial planning & analysis. Drive transformation projects related to principle-based reserving, ensuring alignment with business objectives, and oversee the implementation and interpretation of new accounting standards.
• Industry & Regulatory Advocacy: Serve as a visible leader on emerging industry regulations and standards, such as principle-based reserving and IFRS 17. Represent the organization’s interests through active participation in relevant industry committees and associations.

 

(15%) Actuarial Coordination:

• Cross-Functional Collaboration: Foster strong partnerships and effective communication across diverse business and operational units.
• Business Support: Collaborate with business unit leaders to identify and develop new reinsurance opportunities and solutions.
• Talent Management: Guide the recruitment, hiring, development, and retention of top-tier actuarial professionals, ensuring a high-performing and innovative team.

 

(25%) US Statutory Requirements:

• Regulatory Compliance: Oversee the accurate and timely fulfilment of US statutory obligations, including valuations, asset adequacy testing, and actuarial opinions (Actuarial Guidelines 38, 53, 55), preferred table testing, X-factor opinions, and quarterly statutory financials.
• AG48 Reserving: Direct the reserving process and performance monitoring for Sand Lake Re, AG48 compliant captive, including delivery of the related actuarial opinion.
• Reserving Methodology: Manage statutory reserving methodologies, implementing principle-based reserving practices and setting prudent best-estimate assumptions and margins.
• Regulatory Liaison: Serve as the primary contact for regulators, external auditors and other stakeholders relating to all actuarial statutory reporting requirements.

(25%) Other Valuation Responsibilities:

• Valuation Decisions: Provide actuarial expertise for key valuation decisions—covering risk transfer qualification, reserving methodologies, and multiple accounting frameworks (US Statutory,
• US GAAP, IFRS, Solvency II, Bermuda Economic Basis).
• Assumption Setting & Model Governance: Provide oversight and guidance on valuation assumption setting and model governance committees, ensuring accuracy, consistency, and regulatory compliance.
• Bermuda Requirements: Manage and deliver Bermuda regulatory obligations, includin