Pricing Actuary

About the Role (D-band) (FCIA) (E band - ACIAs near completion (12 months) are encouraged to apply)

• Build and execute insurance costing models in alignment with profitability steering values and Swiss Re governance. Create and challenge actuarial assumptions, results, and conclusions. Review and understand all cash-flows.
• Conduct or use mortality and morbidity studies utilizing client data or internal data for client quoting, client services, assumption development, and business monitoring.
• Analyze pricing data and additional subjective evidence, assess risk and the variability in possible outcomes, interpret results, and make recommendations.
• Maintain current knowledge of existing and prospective clients, business practices, industry trends, Swiss Re, Client, and Industry experience, and regulatory conditions.
• Understand client needs and requirements. Present and recommend alternatives. Effectively represent Swiss Re with clients and represent the team with internal stakeholders and colleagues.
• Work with underwriters to understand and evaluate each client's traditional and accelerated underwriting regimes.
• Support or lead the development of costing and pricing strategy tools and infrastructure.
• Maintain Terms of Trade and update best estimate assumptions based on emerging experience/trends and synthesizing relevant evidence to update prior beliefs.
• Develop assumptions for new products and risks.

• Lead or support annual Open Treaty Review process utilizing Stargate for portfolio performance and steering, communicate results and recommendations, and collaborate with L&H Reserving to fully understand and communicate differences.

• Collaborate with Finance, L&H Reserving, Risk Management, Client Markets on administrative issues, alignment of methodologies, pricing processes, and renewal analyses.
• Maintain an understanding of both industry-wide and internal financial reporting methodologies and how they impact costing.
• Verify the implementation of the financial reporting methodologies with the costing process for correctness and adherence to Swiss Re standards.
• Build communication materials for client, internal, rating agency, regulatory, and industry presentations.
• Act as a pricing advocate on treaty issues, product referrals, and other local, regional, or global matters relating to corporate governance.

Additional Responsibilities:

• Assist in internal training on technical product matters.
• Participate in seminars, publications, and committees that enhance Swiss Re’s established leadership position in life and health reinsurance.
• Build strong networks and open communication with key stakeholders.
• Adhere to documentation and document management standards.
• Streamline methodology and implement operational efficiencies.
• Contribute to new tools and methods for enhancing group-wide standards.
• Support or lead projects.

About the Team:

We are a hardworking, ethical, engaged, and productive team living a performance culture. We help make the world more resilient by helping our clients provide more and better insurance protection to their customers than would otherwise be possible without Swiss Re.

Together with our clients, we apply new perspectives, knowledge, and deploy our capital to price and anticipate risk. Through groundbreaking risk assessment and portfolio steering, we support smarter solutions for our clients and Swiss Re.

We believe and act like owners and investors in our business. We help support and build win-win relationships with our clients.

The role requires the assessment, structuring, and pricing of mortality and morbidity risks offered for reinsurance by Canadian and Caribbean life and health insurers. To be successful, you must exemplify Swiss Re's core values of integrity, a passion to perform, agility, client centricity, and collaboration.

The team operates from the Toronto office, and the incumbent is expected to work there as well.

About You:

• Minimum four-year degree in mathematics, statistics, probability, actuarial science, or related field.
• Minimum five (5) or more years of experience.
• Solid understanding of actuarial concepts and principles obtained through progression towards or completion of ASA/ACIA or FSA/FCIA designations.
• Prior experience with group lines would be an asset or a willingness to learn about the group market and group pricing.
• Consistent application of sound reasoning, actuarial and financial principles, methods, and tools. Demonstrates probabilistic thinking and inferential reasoning.
• Avoids confirmation bias, actively seeks credible contrarian perspectives to fully inform own view.
• Ability to work with large data sets, create code, and make inferences from data and communicate results and implications to all stakeholders.
• Makes sound business decisions, reflecting various points of view, benefits, disadvantages, timing, and availability of resources, even when based on limited data and uncertainty.
• Ability to balance differing viewpoints and make decisions factoring multi-disciplinary impact. Challenges assumptions, methods, and conclusions.
• Understanding of insurance and reinsurance markets and products, legal, tax and regulatory environment, capital markets, and basic accounting and reserving.
• Proficiency with MS Office and AXIS. Comfortable using and applying software and tools to improve productivity. Knowledge of R or Python would be an asset.

Nice to Haves:

• Bilingual in English and French.
• Project Management.

About Swiss Re:

Swiss Re is one of the world’s leading providers of reinsurance, insurance, and other forms of insurance-based risk transfer, working to make the world more resilient. We anticipate and manage a wide variety of risks, from natural catastrophes and climate change to cybercrime.

We cover both Property & Casualty and Life & Health. Combining experience with creative thinking and cutting-edge expertise, we create new opportunities and solutions for our clients.

This is possible thanks to the collaboration of more than 14,000 employees across the world. Our success depends on our ability to build an inclusive culture encouraging fresh perspectives and innovative thinking.

We embrace a workplace where everyone has equal opportunities to thrive and develop professionally regardless of their age, gender, race, ethnicity, gender identity and/or expression, sexual orientation, physical or mental ability, skillset, thought, or other characteristics.

In our inclusive and flexible environment, everyone can bring their authentic selves to work and their passion for sustainability.

Swiss Re is an equal opportunity employer. It is our practice to recruit, hire, and promote without regard to race, religion, color, national origin, sex, disability, age, pregnancy, sexual orientations, marital status, military status, or any other characteristic protected by law.

During the recruitment process, reasonable accommodations for disabilities are available upon request.

Keywords: Pricing, Pricing Actuary Reference Code: 136134