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A fantastic opportunity has arisen at RGA for an Actuarial Pricing Analyst to support the growth of the company. The environment is dynamic, and career progression and development is an integral part of the job. We offer a competitive salary, benefits, and a generous study package for studying towards becoming an actuary. In addition we put emphasis on providing excellent mentoring, training and development programmes and opportunities.
Who are RGA?
Reinsurance Group of America, Incorporated is one of the largest global life and health reinsurance companies in the world. With operations in 26 countries, we are the only global reinsurance company to focus primarily on life and health related reinsurance solutions.
We are a Fortune 500 company, and as of December 31, 2018, RGA had approximately $3.3 trillion of life reinsurance in force and assets of $64.5 billion.
We are proud to have been ranked #97 among 500 companies in the Forbes 2018 Global 2000: World's Best Employers listing.
Why do we exist?
The world of reinsurance is unknown to many people, yet it is a vital service that is provided to support insurance and financial organisations.
If you have a life insurance policy, then it is almost certain that this policy is reinsured. This means that, in the same way that you pay the insurance company for the cover, an insurance company pays a reinsurer to take on some of the risk.
Why do insurers do this? It helps them to effectively manage the risk they take on, it makes their profits more predictable, and ultimately, it enables them to protect and grow their business.
Being one of the largest reinsurance companies in the world, RGA is fortunate to work with most of the leading insurers, including all the major life insurers in the UK. We pride ourselves on offering complete and innovative reinsurance products and services to meet their specific needs.
What is the role?
As an Actuarial Pricing Analyst, you will work within the EMEA (Europe, Middle East & Africa) Regional Pricing team, working with qualified actuaries and other similar pricing analysts.
The EMEA Regional Pricing Team forms part of the wider EMEA Enterprise Risk Management Team. Our purpose is to support the nine EMEA offices in achieving their goals and optimising value by acting as both enablers and risk gatekeepers. We achieve this by providing expert advice, oversight and education on Traditional products and risks within RGA.
As a Pricing Analyst, your main responsibilities will include:
Pricing and Modelling
The reinsurance market is a competitive one. This means our prices need to strike a balance between being competitive and being profitable, which can only be done if we are confident that our reinsurance premiums have been calculated as accurately as possible.
Calculating these premiums involves building actuarial models to project future cashflows of life insurance policies. These models will contain a number of assumptions and features, such as individual mortality rates, interest rates and capital requirements. All roles will involve the building and maintaining of actuarial models.
Your primary responsibility will be to provide technical modelling support to the pricing functions within each of our nine offices across Europe, the Middle East and Africa. This might include maintaining models & pricing tools, performing model reviews, providing advice on complex reinsurance solutions, or providing hands-on pricing support as is required across the region.
You will also have the chance to be involved in the analysis and implementation of RGA’s key strategic projects – a fantastic opportunity to have an influence on major projects that will shape and benefit the whole of RGA.
Developing Technical Expertise
At RGA, we place significant emphasis on development and career progression. As such, one of the key responsibilities of this role is to enhance and grow your technical expertise. This comes through developing a thorough understanding of RGA’s pricing standards, and also making good progress with the actuarial exams.
RGA are committed to giving you the support you need to develop your skills and take your career to the highest level, and this is reflected in our generous study package. We will fully support your study towards qualification as an actuary through the provision of professional study materials, study leave and significant rewards for making good progress.
Communication
RGA’s collaborative approach is integral to our success. As such, your role will require you to work closely both with other members of the pricing team, and with a wide range of actuaries across EMEA, as well as other areas of RGA.
New Graduate Development Program
You will be enrolled in RGA's New Graduate Development Program when you join. The program is designed to help you accelerate your knowledge of our business and empower you to grow your career. As an NGDP participant you will join a global cohort to participate in a variety of activities throughout a two-year program while gaining hands-on experience in this position. At the start of the NGDP you will travel to St Louis for two weeks to participate with the other graduates.
What do we need from you?
We are looking for graduates who have (or are predicted to achieve) a first or 2:1 in mathematics or a related subject. You need to be analytically strong, highly motivated, and have a desire to pursue an actuarial career. Strong IT skills are a must, and some coding experience, while not necessary, would be desirable.
As mentioned above, the reinsurance market is a competitive one, so we are looking for someone who takes a proactive approach to learning and has a keen desire to challenge themselves. You will also often be working as part of a small team, requiring strong interpersonal skills and the ability to communicate effectively both in a written and oral manner.
RGA are proud to have partnered with Stonewall as a Diversity Champion. We received a Bronze award in the 2018-2019 Mind Workplace Wellbeing Index and are taking part again this year.
