AVP, M&A & Reinsurance Risk Analyst

Job Description:

• Review transaction documents including deal information memorandum, appraisals, product profiles, contracts, experience studies, and other materials associated with prospective transactions.
• Review pricing assumptions and internal underwriting diligence.
• Review the analysis of cedants’ experience to ensure sufficient diligence was performed, data is credible, and proper controls were employed in setting assumptions.
• Review investment strategies and their inherent risks in light of liabilities in a given transaction.
• Ensure pricing assumptions are reasonable in light of cedant’s experience, company experience, industry experience, and professional judgment.
• Validate pricing models and results.
• Review pricing model design, results, and the peer review (challenger) process.
• Recommend sensitivity and stress tests and evaluate their impacts.
• Perform independent validation of pricing models in their entirety or specific pricing results, including the development of replication models where necessary.
• Identify, assess, and communicate deal risks.
• Risks include, but are not limited to, actuarial assumption risk, investment risks (credit, ALM, liquidity), operational risk, regulatory and tax risk, and expense risk.
• Evaluate proposed risk mitigation strategies and their potential effectiveness.
• Document risks for management presentations and in ERM risk memorandums.
• Advise SVP L&A Risk Officer and CRO on deal economics and risks in advance of bid decision making.
• Ensure full compliance with the company’s transaction and pricing governance standards.

Requirements:

• Bachelor’s or advanced degree in actuarial science, mathematics, statistics, engineering, or comparable program of study.
• A minimum of 7 years of relevant insurance experience. Insurance product pricing experience is preferred, but not required, as diverse actuarial experience is invaluable.
• Fellow of the Society of Actuaries (FSA) or comparable accreditation is preferred. Career ASAs with very strong experience will be considered.
• Quantitative risk management experience (such as investment management or quantitative finance) with sufficient applied insurance background will also be considered.
• Effective written and verbal communication skills.
• Candidates must be able to collaborate effectively with others and quickly disseminate information.
• Candidates must have a strong foundation of technical knowledge pertaining to life insurance and/or annuity products and their inherent risks.
• Understanding diverse insurance product designs, product pricing principles, and ALM is critical.
• Experience with pricing or other applied insurance ALM modeling is important.
• Applied experience with Bermuda and/or Solvency II accounting and capital frameworks is a plus but is not required.
• The company will consider candidates with varied backgrounds such as risk management, valuation, modeling, or pricing.
• Candidates should be inquisitive and active learners that seek to grow their understanding in all they do.
• The nature of this role involves evaluation of diverse, often complex or incomplete, financial information.
• Having the ability to independently analyze and draw insightful conclusions from such situations is critical to the role.
• The nature of this role may also require analytical research of technical and sometimes theoretical matters, where information is lacking, and expert judgment is required.
• Candidates should have technical proficiency in actuarial calculations, analyses and models.
• Candidates for this role should have well-developed modeling skills with the ability to use / review work in current actuarial software platforms such as AXIS, MG ALFA, or comparable.
• In addition, candidates should have the ability to develop solutions as needed in programming and/or database languages to perform analyses.
• Proficiency in one or more of the following is required: Python, VBA, SQL, C, or similar.

Benefits:

• Annual bonus based on company and individual performance
• Generous benefits package

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