AVP Actuary

Hannover Life Reassurance Company of America (Hannover Re) is currently seeking talented candidates for a full-time AVP, Actuary position within the CSS – Corporate Actuarial department.

You can look forward to

The AVP, Corporate Actuary is responsible for overseeing and ensuring the high quality and timely delivery of certain regulatory and financial reporting requirements including:

• Ensuring delivery of all actuarial US statutory requirements including preparation of certain blue book schedules, asset adequacy testing analysis and associated memorandum, actuarial opinions and certifications relating to AG38, AG48, AG53, PBR, X-factors and preferred table usage.
• Ensuring delivery of quarterly tax reserves for US tax-paying entities including quantifying impact of new tax laws on tax reserves.

The AVP, Corporate Actuary is responsible for projects and initiatives as assigned.

Essential Functions:

(35%)Statutory & Tax Reporting Requirements:

• Supervises preparation, provides review/signoff, and timely delivery of blue book exhibits and schedules, actuarial opinions, asset adequacy testing, and certifications relating to AG38, AG48, AG53, PBR, X-factors and preferred tables for HLRUS and SLRe in order to comply with US regulatory requirements.
• Oversees preparation and reporting of tax reserves for HLRUS, SLRe, and HLRAB per prescribed guidelines to support the Company’s tax reporting requirements.
• Oversees preparation of minimum tax triggers as per US and German regulation including projections of statutory and tax income.
• Provides impact analysis of new tax laws on tax reserves.
• Provides/Reviews impact analysis of new deals on taxes.
• Provides details and documentation to support internal and external audit requests.
• Tracks and reports applicable changes to financial reporting requirements and regulations in order to maintain compliance with various regulatory entities.
• Performs periodic reviews and audits of the various Business Units on an as needed basis to ensure quality results.
• Oversees update, provides review and sign-off on MAR processes to support internal and external audit requests.
• Generation of SLRe proforma on a quarterly basis.
• Supervises updates to annual SII Narrative and Actuarial Function reports to support HO reporting requirements and deadlines.
• Oversees preparation and reporting of AM Best questionnaire for US entity.

(50%)Projects & Initiatives:

• Create, improve, and streamline processes including, but not limited to:
  • Stat processes including stat forecast.
  • Tax projections to support tax law changes.
• Support cross team initiatives including, but not limited to:
  • Model Validation activities.
  • FRV initiatives.

(15%)Management of Staff:

• Supervises, trains, and develops actuarial staff so that tasks are completed according to their respective deadlines, and they are able to assume additional responsibilities.
• Promotes transition planning, cross training, and documentation of processes to ensure smooth rotation of incoming staff.

You come equipped with

Competencies:

• Ensures Accountability.
• Plan and Aligns.
• Collaborates.
• Resourcefulness.
• Optimizes work processes.

Essential knowledge skills and abilities:

• Bachelor’s degree in Actuarial Science, Applied Math, Statistics, or related field.
• Attainment of the FSA designation from the Society of Actuaries.
• Membership in the American Academy of Actuaries or its equivalent.
• Minimum 8 years’ experience with valuation concepts in the insurance or reinsurance field.
• Intermediate proficiency in Microsoft Office Suite (Excel, Word, Access).
• Excellent communication and organizational skills.
• Able to work independently with minimal supervision.
• Experience managing and coordinating projects, resources, people.

Desired knowledge skills and abilities:

• US Statutory reserving and financial reporting including Principles Based Reserves (PBR).
• Actuarial modelling, model validation and review of actuarial model outputs.
• Familiarity with Model Audit Rule including establishing, testing and documenting financial reporting procedures.
• Reinsurance in its various forms.
• Actuarial modelling platforms and, specifically, experience with Risk Agility FM.
• Experience with SQL, R or other similar tools.

Travel:

• Less than 10%, domestic, possible overnight travel.

Total Compensation Range (Inclusive of Base + Bonus):

• $156,600 - $223,100.

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.

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 making our application process and workplace accessible for individuals with disabilities.

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