VP Actuary

Hannover Life Reassurance Company of America (Hannover Re) is currently seeking talented candidates for a full-time VP, Actuary position within the CSS – Corporate Actuarial department.

You can look forward to:

The VP, Actuary has the following primary responsibilities:

• Leads the team responsible for the actuarial modelling of traditional Life Solutions business, enhancing granularity of models, developing and maintaining associated processes, tools and documentation, transitioning pricing models to valuation models, maintaining strong model governance protocols, and overseeing a team of actuarial associates.
• Leads the team responsible for populating the Seriatim Data Warehouse, coordinating production schedules with stakeholders and overseeing the maintenance and continual improvement of the systems used to store this data.
• Owns and oversees the maintenance and continual improvement of the actuarial platform used to generate projected cash flows, the associated code, and the related databases that support financial reporting and related actuarial functions.
• Owns and oversees the systems and tools used in the financial reporting and related processes for the traditional Life Solutions business to ensure optimization.

Essential Functions:

(45%) Actuarial Modelling Function:

• Collaboratively prioritize modelling initiatives considering the needs of relevant stakeholders, 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 ongoing maintenance and enhancement of existing models, new model functionality development and testing, and addressing validation issues.
• Coordinate with pricing to provide input as treaty terms are negotiated to anticipate and avoid potential implementation challenges.
• Identify, implement, and maintain strong model governance procedures.
• Establish and maintain effective relationships and processes between the modelling team and key stakeholders.
• Hire, train, and manage modelling function team members.

(15%) Actuarial Infrastructure Function:

• Oversee the Corporate Model Steward function to ensure actuarial modelling capabilities remain current and fit for purpose.
• Oversee financial reporting databases used to develop inforce files, store actuarial assumptions, and manage model output.
• Coordinate and collaborate with the IT Team overseeing compute capacity and corporate software.

(35%) Reporting Systems and Tools Function:

• Responsible for oversight, ongoing enhancement, and optimization of financial reporting systems and tools for traditional mortality solutions valuation and financial reporting.
• Review financial reporting processes to identify potential areas of inefficiency and risk, leading a team to design and implement enhancements.
• Evaluate and assess actuarial models and assumption setting processes to identify opportunities for optimization.
• Formulate recommendations aimed at creating operational efficiencies and improving the reliability of financial results.
• Build consensus with key stakeholders regarding agreed recommendations.

(15%) Stacked Runs Process Owner:

• Oversee and deliver periodic SDW updates (Stacked Runs) on an agreed timeline.
• Support the identification of data quality issues for the Data and Operations team to resolve.
• Review all structural changes in the inforce file creation process and support the identification of data quality issues.

Competencies:

• Drives Results
• Optimizes work processes
• Collaborates
• Tech Savvy

Essential knowledge skills and abilities:

• Bachelor’s degree in Actuarial Science, Mathematics, or related field from an accredited college or university.
• FSA Designation or equivalent.
• Minimum 7 years of experience in insurance, including financial reporting, actuarial modelling, model validation, and IFRS17.
• Effective verbal, written, and interpersonal communication skills.
• Project management experience with the ability to manage competing priorities and meet deadlines.
• Supervisory experience managing a team of direct reports.

Desired knowledge skills and abilities:

• Demonstrated abilities to build relationships and work effectively across functional teams.
• Working knowledge of reserving/valuation and related modelling requirements.
• Working knowledge of financial reporting and related modelling systems to identify potential sources of inefficiencies.

Travel:

• < 10%

Total Compensation Range (Inclusive of Base + Bonus):

• $202,200 - $273,600

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.