Hannover Re logo

Hannover Re

Share this job:

View all jobs at Hannover Re

Hannover Re is hiring an

AVP, Actuary

Hannover Life Reassurance Company of America (Hannover Re) is currently seeking talented candidates for a full-time AVP, Actuary position, within the CSS – Enterprise Risk Management department. Please see below for more information regarding the essential functions of this position, required qualifications, and how to apply.

Job Summary:

The purpose of the role is to be a key contributor to the overall success of the enterprise risk management (ERM) activities within L&H America with specific focus on morbidity risk assumed via traditional and structured Health Reinsurance Solutions. Responsibilities include a forward looking way approach towards the risks related to this rapidly growing line of business.

  • Identifying, analysing and proposing and implementing processes and tools for managing risks and mitigating factors across a wide spectrum of the company's activities and departments, especially in Health Solutions, new and existing business.
  • Ensure morbidity and related risks in the US Health insurance space are considered properly in modelling new business as well as inforce and monitored appropriately alongside other risks such as asset, counterparty and operational risks.
  • Ensure specifics and complexities of the US Health insurance market are transparently presented and the associated risks are appropriately reflected during new business acquisition as well as processes around inforce business such as internal model and risk reporting.
  • Challenge and identify gaps in processes and infrastructure to support the active management of risk by recommending and facilitating the implementation of solutions that control or reduce risk (and the corresponding capital requirements where applicable) to optimize the overall risk to return profile.
  • Coordinating across business units and geographic locations to enhance risk management capabilities through internal capital model, reporting and analytics and improve consistency and efficiency of approaches used for assessing risks at various stages and for various purposes in the business center.

Essential Functions:

Risk management support and analysis (50%)

  • Risk oversight of transactions and new business pricing activities for health solutions. This includes consulting on and developing or reviewing guidelines on pricing and underwriting, proposing risk-taking capacity limits and thresholds, facilitating necessary analytics of internal and external health data as well as independent review of individual transactions regarding pricing and quote structure, compliance with Guidelines, pricing standards. Guiding the new business team toward successfully and efficiently presenting and obtaining the necessary approvals for opportunities that escalate per SUGs or GUGs.
  • Coordinate maintenance and update of global and local underwriting and pricing guidelines in conjunction with group and business unit stakeholders.

Business management and collaboration (30%)

  • Interface within ERM and with other local and Group departments (for example Valuation, Corporate Actuarial/Modelling, Pricing, GRM, Operations) to support review, design and implementation of improvements or recalibration that are necessary to ensure Health risks are appropriately and efficiently reflected in required capital, modelling, risk reporting, capital planning and other processes and Health data is used consistently for various purposes related to risk steering.
  • Provide research results and information on industry standards to develop, support and document model calibrations and parameter choices.

Ad-hoc projects / Other (20%)

  • Support the production of the regulatory risk management reporting
  • (ORSA, CISSA, BSCR,) as well as regular reporting of key risk management metrics.
  • Support capital and dividend capacity planning to relevant Hannover Re stakeholders (board book, risk committee, GRM)
  • Manage temporary expert resources and functional teams during projects.

Qualifications

Competencies:

  • Manages complexity
  • Action oriented
  • Instils trust
  • Decision quality
  • Resourcefulness

Essential knowledge skills and abilities:

  • Bachelor’s degree in Actuarial Science, Statistics, Mathematics or similar
  • Fellow of the Society of Actuaries or near FSA
  • 5 or more years of actuarial responsibilities such as pricing, valuation or forecasting in the US Health Insurance industry
  • Actuarial modelling experience: ability to use state of the art actuarial architecture for processing data related to capital modelling and scenario simulations
  • Computer software: Microsoft Excel, (actuarial) development platforms, data management and analytics
  • Health Insurance product knowledge: Comprehensive Medical, Medicare, Medical Stop Loss, Value Based Care/ACO, A&H and Group Life,
  • Business knowledge: Reinsurance basics, Solvency II, Economic Capital Model, Stat/GAAP/IFRS,
  • Business skills: Ability to communicate complex initiatives to all stakeholders, etc.

Desired knowledge skills and abilities:

  • Other insurance product knowledge: Term, Perm
  • Excellent verbal and written communication skills
  • Retrocession and other risk mitigation techniques
  • Project management and team management

Travel:

  • Occasional travel to other offices (national and international), clients or conferences. Overseas travel is expected no more frequent than once per year with a minimum stay of one week.

Total Compensation Range (Inclusive of Base + Bonus) :

  • $156,600 - $223,100

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 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. The company complies with all applicable state and local laws governing nondiscrimination in employment and prohibits unlawful harassment based on any of the aforementioned protected classes at every location in which the company operates. This applies to all terms, conditions and privileges of employment including but not limited to: hiring, assessments, probation, placement, benefits, promotion, demotion, termination, layoff, recall, transfer, leave of absence, compensation, training and development, social and recreational programs, educational assistance and retirement.

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 unless doing so would create an undue hardship to Hannover Re, or a threat to these individuals, others in the workplace or the company as a whole. To request an accommodation, email HRLUS-personnel@hannover-re.com. Please allow for 24 hours to process your request.

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

View all jobs at Hannover Re