AVP, Actuarial Reinsurance
Fidelity & Guaranty Life Business Services

Job Info

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Summary

The AVP, Actuarial Reinsurance is responsible for the oversight and management of evaluating reinsurance needs, and negotiating and implementing reinsurance solutions in alignment with the reinsurance business strategy. This position will have active involvement with Valuation, Modeling, Projections, Financial Planning & Analysis, Financial Reporting, Legal, Tax, Financial Systems, Reinsurance Administration, as well as externally facing with 3rd Party reinsurance partners.

Organization

This position reports directly to VP, Reinsurance Strategy and will interact with all levels of management including CFO, CRO, as well as interaction with other officers. This position could have a direct report/s and and will contribute to general training and staff development for all actuaries within the company with respect to reinsurance activities. The position is part of the larger finance team and requires significant collaboration with almost all areas of the larger company including actuarial & modeling, as well as with the larger reinsurance community outside the organization.

Duties and 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 3rd 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.

Experience and Education 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
• Prior Reinsurance experience highly preferred - both Block (Inforce) and Flow (New Business).
• Modeling & Valuation experience a plus.
• Advanced knowledge of US Statutory Reserve calculations.
• Familiarity with Bermuda and Cayman capital & reserving regimes preferred.

Skills and Abilities

• 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

Other Requirements

• Perform other functions, duties and projects as assigned
• Regular and punctual attendance
• Some travel required (less than 15%)

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Additional Information
Work Environments

F&G believes in an employee-centric flexible environment, which is why we offer the ability for in-office, hybrid and remote work arrangements. During the hiring process, you'll work with your leader to decide what works best for your role.

F&G complies with federal and state disability laws and makes reasonable accommodations for applicants and candidates with disabilities, unless such accommodation would cause an undue hardship for F&G. If reasonable accommodation is needed to participate in the job application or interview process, please contact talentacquisition@fglife.com.

Join our employee-centric hybrid work environment: F&G Careers

About F&G

Since 1959, Fidelity & Guaranty Life Insurance Company (F&G) has offered annuity and life insurance products to those who are seeking security in retirement and protection during life's unexpected events.

As a national Top Workplace1, an Iowa Top Workplace2 and a proud equal opportunity employer, F&G team members are empowered, collaborative, dynamic and authentic. We believe that by embracing these values, we will continue to build and strengthen the company while continuing to be a great place to work.

1Top Workplaces USA 2022 - 2023

2Des Moines Register Top Workplaces 2018 - 2022

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