Actuarial Reinsurance

Summary

Join Fidelity & Guaranty Life Insurance Company (F&G) as the AVP, Actuarial Reinsurance and oversee the evaluation of reinsurance needs, negotiate and implement reinsurance solutions, and actively participate in various aspects of the reinsurance process. This role involves collaboration with internal teams, including Valuation, Modeling, Projections, Financial Planning & Analysis, Financial Reporting, Legal, Tax, Financial Systems, and Reinsurance Administration, as well as external reinsurance partners. The position reports to the VP, Reinsurance Strategy and requires significant interaction with all levels of management. You will contribute to the training and development of actuaries within the company and actively participate in the development of the Reinsurance business strategy. This role requires strong project management skills and the ability to manage multiple priorities.

Requirements

• Bachelor’s degree in Mathematics, Actuarial Science, or related technical field
• Attainment of FSA. Will consider experienced ASA as well
• Minimum of 10 years of experience in a range of actuarial disciplines
• Advanced knowledge of US Statutory Reserve calculations
• Advanced mathematical and analytical skills
• Proficiency with Microsoft suite of products (Word, Excel, PowerPoint, Access)
• Highly articulate, with strong verbal and written communication skills
• Extremely attentive to detail and highly conscientious about deadlines and duties
• Ability to mentor and coach others
• Demonstrated leadership abilities
• Ability to analyze model output to determine reasonability of results
• Flexibility and adaptability to take on ad-hoc projects as assigned
• Ability to organize and manage multiple priorities
• Self-starter who demonstrates strong initiative, desire to learn, and flexible schedule to accommodate a variety of tasks
• Team player who has the ability to function as a key member of a small group
• High degree of independence and ownership for their areas of responsibility
• Strong problem-solving skills that include advanced analytical and reasoning abilities. Demonstrate ability to apply actuarial principles to complex situations
• Perform other functions, duties and projects as assigned
• Regular and punctual attendance
• Some travel required (less than 15%)

Responsibilities

• Responsible for negotiating and/or developing either new reinsurance arrangements or changes to existing reinsurance arrangements
• With respect to treaty implementation, will coordinate work with various parts of the company which could include Legal, Valuation, Treasury, Financial Planning & Analysis, Actuarial Projections, Financial Reporting, Tax, Investments, Investment Accounting, Financial Systems, and Reinsurance Administration. Must have sufficient project management skills to assist with overall onboarding of new reinsurance projects
• Work with Valuation and Reinsurance Administration in finalizing efficient ongoing calculation of reserve credits associated with a deal; preparation of settlement statements; preparation of schedule S for the blue book
• Determine the existence of risk transfer with respect to a deal on different accounting bases and will be responsible for the associated risk transfer document which will be shared with the Accounting Policy team to become part of the accounting memo associated with the reinsurance deal
• Review and verify the accuracy of the financial reports including reinsurance settlement statements and ensure deadlines for reporting are met
• Execute and manage SOX controls associated with any ongoing reinsurance reporting/calculating processes
• Maintain relationships with key reinsurers, keep abreast of changes in the industry and new structures that could be evaluated for the potential benefit of the company
• Develop new reinsurance arrangements and maintain/modify existing reinsurance arrangements
• Negotiate treaties, evaluate deal models, coordinate the implementation of treaties with different areas of the company, and keep management informed of ongoing progress. Prepare and distribute dashboards to keep the organization aware of progress made on reinsurance initiatives
• Become a subject matter expert with existing reinsurance arrangements currently in the company – including affiliate / offshore transactions
• Actively participate with senior leadership in the development of the Reinsurance business strategy. Develop PowerPoint presentations for sharing with various management level discussions, as well as information sharing within the larger finance, actuarial, and risk teams
• Organize modeling efforts via cross-functional & collaborative efforts to ensure reinsurance is appropriately considered in the organization’s analysis of Cash Flow Testing, the organization’s Multi-Year Plan process, and the organization’s overall capital & financial forecast. Use modeling information to assist in organization’s strategic plans for Risk Analysis and Reinsurance, including affiliated offshore and 3 rd party reinsurance plans
• In support of the Reinsurance business strategy, oversee the prioritization and guidance of work for the team to ensure effective execution of projects

Preferred Qualifications

• Prior Reinsurance experience highly preferred – both Block (Inforce) and Flow (New Business)
• Modeling & Valuation experience a plus
• Familiarity with Bermuda and Cayman capital & reserving regimes preferred

Benefits

F&G believes in an employee-centric flexible environment, which is why we offer the ability for in-office, hybrid and remote work arrangements