EVP, Head of Annuity Solutions, 2973

Job Summary

This position is responsible for the comprehensive management of the Annuity Solutions business for HLR America. The primary responsibility is driving the business, aligning the business unit’s goals with Hannover Re’s strategic initiatives and key performance metrics. Management of the business unit also includes oversight of in-force profitability and financial reporting, risk analysis and monitoring, experience studies, and client relationship management; all with respect to Annuity Solutions business.

Essential Functions

• (45%) New Business and Client Relationship Management:
• Define and drive the new business strategy to write reinsurance solutions in the U.S. annuity and retirement market for HLR America.
• Create and/or oversee the innovation of new reinsurance solutions for U.S. annuity and retirement business, evolving to changing markets, demands and regulations.
• Direct and/or lead discussions, presentations and/or treaty negotiations with existing clients and prospective clients.
• Create and maintain guides for marketing, pricing, modelling, research and general governance for Annuity Solutions staff, ensuring proper collaboration with local and international departments such as Global Longevity, Investment & Collateral Management, Risk Management, etc. are incorporated into applicable processes.
• Review due diligence for all Annuity Solutions transactions, with ultimate responsibility of providing approval(s) for any underwriting action(s).
• Prioritize and direct initiatives to contribute to the business unit and company’s immediate and longer-term performance metrics.
• (25%) Management and Development of Staff:
• Member of HLR America’s Operational Council
• Member of HLR America’s Risk Committee
• Lead and manage the Annuity Solutions team, including an Executive Assistant, a Marketing Actuary, Research & Development (3), and a staff of Pricing Actuaries (9). Staff size will vary with business demands.
• Be an active leader, creating a feedback culture and an environment where expectations and development goals are clearly communicated.
• Build a collaborative, yet goal-oriented team that drives new business results and embodies the we-spirit of Hannover Re.
• Connect and cooperate with various stakeholders throughout the Hannover Re organization to ensure Annuity Solutions business is fully understood by the respective departments that need to review or manage it, and facilitate collaboration with other business centers, departments and teams to transfer knowledge around Hannover Re.

Essential Knowledge, Skills, and Abilities

• Bachelor’s degree in Actuarial Science, Statistics, Mathematics, Finance, Economics or similar
• Professional credential such as Fellow of the Society of Actuaries, Chartered Financial Analyst with relevant experience, or an MBA with relevant experience
• 15+ years of experience in the insurance or reinsurance industry
• Management or leadership experience with actuaries or data scientists
• Deep understanding of reinsurance structures and considerations
• Strategic communication skills with ability to communicate complex concepts to a variety of stakeholders
• Ability to organize and prioritize competing initiatives, directing staff and others to move multiple priorities forward

Desired Knowledge, Skills, and Abilities

• Knowledge of U.S. annuities, U.S. PRT and U.S. Retirement market
• Experience or background with various accounting frameworks: Solvency II, U.S. Statutory and GAAP, IFRS
• Knowledge of annuity-based statutory reserve frameworks: CARVM, AG33, AG35, AG43, or preliminary VM22
• Knowledge or experience with policyholder behavior or longevity experience studies
• Knowledge or experience with asset intensive reinsurance

Travel

Significant travel to Orlando office for various onsite staff, business unit and management meetings. Frequent travel to actuarial and insurance industry conferences and client visits. Occasional international travel to Hannover Re Group meetings. Travel or Orlando based meetings may be up to 25% of working time.

Compensation (Inclusive of Base + Bonus)

$450,000 - $580,000

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