AVP, Actuary

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Hannover Re - with around 4,000employees at locations all over the world. Our strength? Connecting Power:
We rely on each other. As a reinsurer, we protect customers in the event of a claim. This requires customised, innovative solutions. Solutions that worked yesterday may be outdated tomorrow. We challenge ourselves and continuously optimise our services, advice and products. All this makes us one of the leading and most profitable reinsurance groups in the world and a reliable employer.

Hannover Life Reassurance Company of America (Hannover Re) is currently seeking talented candidates for our open AVP, Actuary position. This is a Full-Time role within the Life Solutions 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 ensure the financial success of Life Solutions through development and implementation of compelling reinsurance solutions for the company’s clients that achieve appropriate returns relative to the risk profiles assumed by Hannover Re affiliates. Involves close cooperation with a variety of disciplines that interface with new business generation, including Accounting, Finance and Reporting, Local and Group Risk Management, Global Investment Management, and internal and external legal counsel.

Role is primarily focused on the modelling of various reinsurance and structured transactions, pricing according to local and group underwriting guidelines and regulatory requirements, oversight of direct and retrocession agreements and transaction documentation, and coordinating the implementation these transactions.

• Structuring and Pricing (40%): Structures and prices transactions, including reviewing and analyzing historical experience on the underlying business, developing appropriate pricing assumptions and actuarial models, projecting cash flows and financial results, developing a transaction structure, and effectively presenting and communicating results to key internal stakeholders as well as clients. Documents pricing work in a form that facilitates peer review, internal approvals, and communication of the details of the transaction throughout the company and group.
  
  Achieves an attractive risk/return profile for the company on new transactions while complying with all applicable underwriting guidelines and regulatory requirements.
• Deal Management (20%): Collaborates with clients to ensure that all data and documentation required throughout the pricing process is obtained, and that the developing transaction continues to meet the clients’ needs from a business perspective. Communicates with clients to keep them informed of any issues that arise during the structuring and pricing process that may impact the clients’ desired execution timelines or that may necessitate changes to the originally contemplated transaction structure or pricing.
• Treaty Construction (15%): Collaborates with internal and external counsel and with clients to produce reinsurance treaties and contract documentation that accurately describe the transaction structure and pricing and the obligations of the counter parties. Ensures that contractual obligations undertaken by the company are consistent with the pricing, structuring, and model work undertaken for the transaction.
• Implementation (15%): Liaises with different functional units within the company to ensure the efficient implementation and management of new transactions. Works with the company’s internal retrocession partners to obtain retrocession coverage where necessary, and other forms of credit support. Ensures that the transaction optimizes the regulatory, capital and tax position of the company and group.
• Research & Development (10%): Research regulatory developments, differences between various accounting standards, developments in tax law changes, product development and filings, client developments and other aspects necessary to ensure the relevance and value of life reinsurance solutions.

Essential knowledge, skills, and…