You desire impactful work.
You’re RGA ready
RGA is a purpose-driven organization working to solve today’s challenges through innovation and collaboration. A Fortune 500 Company and listed among its World’s Most Admired Companies, we’re the only global reinsurance company to focus primarily on life- and health-related solutions. Join our multinational team of intelligent, motivated, and collaborative people, and help us make financial protection accessible to all.
A Brief Overview
As a Pricing Actuary, the successful candidate will work within the Pricing Team to ensure delivery of superior client service to our clients.
What you will do
- Review or conduct pricing of Individual quotes, including: Data analysis and risk assessment to set pricing assumptions; Modelling of reinsurance transactions utilising Excel and AXIS software; Appropriateness of reinsurance design/structure; Analysis of pricing results and competitiveness of terms; Assisting Senior Pricing Actuaries in the formation of recommendations; Documentation of pricing reports for all quotes performed; -Technical and peer reviews;
- Demonstration of a sound knowledge of RGA’s approved pricing basis and legislative and corporate compliance requirements
- Identifying and implementing efficiencies into the pricing process
- Ensuring sound pricing processes and procedures are followed by the pricing team, demonstrated by the achievement of positive results within regular internal pricing audits.
- Product Design and Terms: Assistance in the development of competitive sustainable product terms, including input to proposed product design and risk assessment, and determination of associated pricing implications. Input to market analysis of product and pricing positioning.
- Communication with internal and external clients to: Solicit input on considerations for the quote or opportunity; Keep all parties informed on progress of quoting activity, discussing offered terms and rates; Close collaboration with BD team; Respond to day-to-day pricing and product related client queries.
- Letters of Offer/Treaties: Ensure offers and negotiations reflect Divisional standards and protect RGA’s interests; Provision of pricing input to reinsurance treaties to ensure consistency with offer documents and other pricing documentation.
- Pricing Bases: Assistance with experience studies and treaty profitability reviews; Obtaining client feedback for research needs.
- Industry Knowledge and Market R&D: Contribute to knowledge sharing initiatives within the team; Build and utilise internal resources with the aim of improving business practices. Understanding the implications of underwriting, claims and operational requirements on reinsurance design and pricing. Demonstration of an understanding of the various distribution channels for provision of Individual and Group life insurance, including Corporate, Master Trust and Industry Fund segments.
- Keep abreast of local trends that may affect pricing function, and disseminate among the pricing team as appropriate. Communicate witnessed emerging trends and recommend specific action to capitalise on opportunities arising; Respond appropriately to observed threats; Maintain effective pricing risk and compliance controls.
Qualifications
- 3+ Years experience working in either a reinsurance and/or pricing role. Individual pricing experience Required
- Strong client service focus Required
- Strong interpersonal skills with the ability to negotiate and influence others Required
- Strong technical skills and a willingness to muck in Required
- Solid understanding of life insurance market and products Required
- Sound understanding of legislative and corporate compliance requirements Required
- A learning orientation, proactive approach and ability to research information Required
- Excellent communication and presentation skills – both written and verbal Required
- Advanced MS Office suite - Excel, Word, Powerpoint Required
- Confident user of programming languages such as R Required
- Ability to challenge and enhance existing analytical methodologies Required
- Highly organised with ability to effectively prioritise and self-manage workload Required
- Ability to understand and define data/reporting requirements with stakeholders, analyse them and define solutions using the most appropriate tool Required
- Fellowship accreditation from an internationally recognised actuarial association (e.g., FSA, FIA or FIAA) Required
What you can expect from RGA:
Gain valuable knowledge from and experience with diverse, caring colleagues around the world.
Enjoy a respectful, welcoming environment that fosters individuality and encourages pioneering thought.
Join the bright and creative minds of RGA, and experience vast, endless career potential.
