VP, Actuary, 3065

Essential Functions

• Ownership of Health Solution Valuation Requirements

  • Oversee the delivery of quarterly financial reporting requirements related to the Heath Solutions business on all relevant accounting basis (i.e. NAIC Statutory, IFRS, Solvency II and Bermuda BMA).
  • Ensure actuarial models are refreshed, establish updated accruals, perform earnings variance analysis, and lead in-depth analysis of items warranting further assessment.
  • Ensure quality presentation of quarterly financial results for the Health Solutions Business, including explanation of variances from plan with linkage to underlying business drivers.
  • Coordinate effectively with Business Development and Corporate Actuarial functions to ensure timely delivery and updates to forecasts reflecting latest business developments.
  • Address requirements of external auditors in an efficient and constructive manner. Support actuarial conclusions with appropriate memorandum and documentation. Advocate effectively for addressing audit requirements in an efficient manner.

• Ownership of Health Solutions Valuation Processes

  • Ensure that actuarial models, related infrastructure, and controls are robust. This extends to include tools supporting the financial reporting quarterly close, Internal Capital Model scenarios, etc.
  • Proactively review current actuarial reporting processes to ensure they remain current, especially during the transition from local to group systems. Identify and implement changes to streamline financial reporting processes that promote automation and scalability.

• Health Solutions Business Performance Monitoring and Management

  • Coordinate effectively with ERM to maintain the quarterly valuation watchlist which tracks experience developments and anticipates the need for assumption and/or model updates. Periodic reporting to ERM and Corporate Actuarial of all developments requiring management attention including potential liquidity demands.
  • Drive business insight and enable effective management of the underlying business by proactively identifying business developments and potential corrective actions.

• Valued Business Partner for New Business Development Team

  • Effective coordination with new business development team to ensure that new transactions are transitioned to the valuation function with full understanding of the key aspects.
  • Support new business decision making to ensure desired accounting outcomes are achieved (e.g., initial recognition of new business, modification/de-recognition implications, etc.).
  • Support and propose treaty language and terms which are consistent with intended financial outcomes.

Essential Knowledge, Skills, and Abilities

• Undergraduate degree in Actuarial Science, Mathematics, Statistics or related field.
• Minimum 10 years experience in health product valuation including leading a financial reporting and valuation function.
• Reinsurance experience preferred.
• Experience with leading and managing a team (including FSA level actuaries).
• Strong verbal and technical writing skills.
• Fellow of the Society of Actuaries (FSA)
• Member of the American Academy of Actuaries (MAAA)

Desired Knowledge, Skills, and Abilities

• Strong experience working with Excel.
• Experience with actuarial projection platforms (preferably RAFM).

Travel

• 15% Periodic travel required both domestically and internationally.

Compensation (Inclusive of Base + Bonus)

$215,800 - $291,900

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

Contact Information

Hannover Life Reassurance Company of America (Hannover Re) seeks to attract the best-qualified candidates who support the mission, vision and values of the company and those who respect and promote excellence through diversity. We are committed to providing equal employment opportunities (EEO) to all employees and applicants without regard to race, color, creed, religion, sex, age, national origin, citizenship, sexual orientation, gender identity and expression, physical or mental disability, marital, familial or parental status, genetic information, military status, veteran status or any other legally protected classification. The company complies with all applicable state and local laws governing nondiscrimination in employment and prohibits unlawful harassment based on any of the aforementioned protected classes at every location in which the company operates. This applies to all terms, conditions and privileges of employment including but not limited to: hiring, assessments, probation, placement, benefits, promotion, demotion, termination, layoff, recall, transfer, leave of absence, compensation, training and development, social and recreational programs, educational assistance and retirement.

We are committed to making our application process and workplace accessible for individuals with disabilities. Upon request, Hannover Re will reasonably accommodate applicants so they can participate in the application process unless doing so would create an undue hardship to Hannover Re, or a threat to these individuals, others in the workplace or the company as a whole. To request an accommodation, email HRLUS-personnel@hannover-re.com. Please allow for 24 hours to process your request.

We will accept applications until a candidate has been identified and selected to fill this position.