VP Actuary (Corporate Actuarial)

We are currently seeking applicants for a VP, Actuary (Corporate Actuarial) position. You will lead 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.

Your Tasks

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.

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.

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.

Stacked Runs Process Owner

• Oversee and deliver periodic SDW updates (Stacked Runs) on agreed timeline and in coordination with Assumption Setting team.
• Support the identification of data quality issues for Data and Operations team to resolve. In coordination with the relevant stakeholder group (i.e. including modelling, operations, valuation, and experience analysis teams), prioritize data quality issues and propose potential remediation efforts to address known issues. Support Data and Operations team in addressing known issues.

Your Profile

• Bachelor’s degree in Actuarial Science, Mathematics or related from an accredited college or university
• FSA Designation or equivalent
• Minimum 7 years of experience of insurance including financial reporting; actuarial modelling; model validation and IFRS17
• Effective verbal, written and interpersonal communication skills
• Project management experience; demonstrated ability to manage competing priorities and meet deadlines, ability to lead more junior team members including the potential to directly manage one or more team members.
• Supervisory experience (managing a team of direct reports)
• Demonstrated abilities to build relationships and work effectively across functional teams.
• Working knowledge of reserving/valuation and related modelling requirements and financial reporting processes.
• Working knowledge of reserving/valuation/ financial reporting and related modelling systems (e.g. LARS, HIPPO, RAFM, SQL, etc.) to enable understanding of data flows and enable ability to identify potential sources of inefficiencies, etc.

Total Compensation Range: $207,000 - $280,100 (inclusive of Base and Bonus).

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 Life Reassurance Company of America (Hannover Re) seeks to attract the best-qualified candidates who support the mission, vision and values of the company and those who respect and promote excellence through diversity. 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.