AVP Actuary

Hannover Life Reassurance Company of America (Hannover Re) is currently seeking talented candidates for a full-time AVP, Actuary position within the Health Solutions department. Below is more information regarding the essential functions of this position and required qualifications.

You can look forward to:

Ensures the financial success of Health 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. Coordinates with clients across business units and geographic locations to ensure successful implementation of reinsurance treaties. Performs significant modelling and analysis, conducts product and industry research, helps prepare documents and presentations, and participates in regular discussions with clients and internal key stakeholders.

Essential Functions:

(60%) Technical support and analysis

• Develops, maintains, and runs pricing models and templates for use in profit testing and determination of economic capital and embedded value.
• Provides analysis and evaluation of pricing model results and presents results to facilitate Vice President actuary review.
• Underwrites and evaluates pricing risks for all comprehensive health business including Accountable Care Organizations, Commercial Health, Medicare Advantage, Medicare Supplement, and Medicaid business.
• Acquires, aggregates, and develops data for use in experience studies, profitability analysis, financial reporting, and risk management.
• Works closely with various key stakeholders across the organization to support the pricing and risk evaluation processes.

(25%) Business management and collaboration

• Assists the Vice President pricing actuaries in marketing structured reinsurance solutions to prospective clients.
• Collaborates with clients to improve performance.
• Produces required documentation for final pricing package for new business opportunities.
• Proactively seeks ways to improve processes and create efficiencies.
• Works to build strong relationships with others in the organization.
• Manages actuarial associates in the Health Solutions pricing unit.
• Coaches and mentors junior technical professionals including actuarial associates and interns.

(10%) Actuarial Research

• Researches regulatory developments, product filings, client developments, and other aspects necessary to ensure the relevance and value of health reinsurance solutions.

(5%) Ad-hoc projects / Other

• Assists with ad-hoc projects and collaboration in the department or company.

You come equipped with:

Competencies:

• Manages complexity
• Action oriented
• Tech savvy
• Decision quality
• Resourcefulness

Essential Knowledge, Skills, and Abilities:

• Bachelor’s degree in Actuarial Science, Statistics, Mathematics or similar.
• Must be Fellow of the Society of Actuaries.
• Minimum of 6 years of experience in an actuarial role.
• Intermediate proficiency in Microsoft Excel and Microsoft Word.
• Strong verbal communication with ability to communicate complicated concepts tailored to different audiences.
• Excellent writing skills.
• Strong organizational skills, and ability to manage competing priorities and deadlines.
• Health product knowledge: Value Based Care/Accountable Care Organizations.

Desired Knowledge, Skills, and Abilities:

• Programming knowledge: R, VBA, SQL, or proven aptitude to learn new languages.
• Actuarial modelling experience: Risk Agility.
• Insurance product knowledge: Health insurance products.
• Business knowledge: Reinsurance, US Statutory and GAAP, Solvency II, IFRS17.

Travel:

• 15% Expected overnight travel.

Compensation (Inclusive of Base + Bonus):

• $180,400 - $244,100.

Benefits Include:

• Comprehensive medical, dental, and vision.
• Paid Time Off (PTO).
• Company provided life insurance and disability benefits.
• 401(k) and profit sharing.
• Additional ancillary benefits available.

Hannover Re seeks to attract the best-qualified candidates who support the mission, vision, and values of the company. We are committed to providing equal employment opportunities (EEO) to all employees and applicants without regard to race, color, creed, religion, sex, age, national origin, citizenship, sexual orientation, gender identity and expression, physical or mental disability, marital, familial or parental status, genetic information, military status, veteran status, or any other legally protected classification.

We are committed to making our application process and workplace accessible for individuals with disabilities. Upon request, Hannover Re will reasonably accommodate applicants so they can participate in the application process.

We will accept applications until a candidate has been identified and selected to fill this position.