Head of Valuation - London, United Kingdom - RGA

RGA
RGA
Verified Company
London, United Kingdom

4 weeks ago

Tom O´Connor

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Tom O´Connor

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Description

Position Overview

The UK Head of Valuation is a key member of the UK business segment and the EMEA Valuation leadership team.

The associate is responsible for the delivery of actuarial work at the UK segment level and for upwards consolidation in the relevant legal entity level.

Manages valuation resource to support Regional and Corporate objectives in respect of the UK business.

Provides leadership, development, and guidance to the UK valuation team; coordinates with UK and regional functional leadership, working with the Regional Head of Valuation - EMEA, and supports UK senior management.

This position can also be located in any of our EMEA offices.


Responsibilities General**:


  • Key Valuation resource for senior management and functional leaders in the UK and EMEA markets.
  • Responsible for the management, growth, development, and delivery of the UK valuation function.
  • Liaise with other UK teams to promote coordination and support of UK business strategy as well as leveraging resources and expertise across the EMEA valuation team.
  • Collaborate closely with UK Finance to support monthly and quarterly earnings analysis, business and financial planning, and other related projects.
  • Support global actuarial projects such as internal economic capital, embedded value, local and global ORSAs, and business planning.
  • Provides technical/actuarial support to the UK pricing teams.
  • Manages the UK valuation team, including training and development plus employment decisions including, but not limited to, hiring, evaluating, coaching, and disciplining direct reports.
  • Fosters a positive and engaged work environment, including mentoring and associate development.
  • Supports the Regional Head of Valuation
  • EMEA in performing their duties by providing business knowledge, summary analytics and further data and analysis as requested
  • Supports the Regional Head of Valuation
  • EMEA in developing any UK valuation capability to support EMEA, including working with other EMEA and global valuation teams.

Specifics:


  • Manages monthly and quarterly regulatory, US GAAP, and tax valuation processes for the UK business including audit requirements.
  • Responsible for US GAAP analysis of the UK business and providing support to the UK finance team.
  • Responsible for the US GAAP IBNR analysis for the UK traditional business and the annual calibration of the lag factors.
  • Responsible for unmodelled business balance sheet items and their posting and reconciliation.
  • Responsible for the delivery and development of Management Information, including analysis, interpretation and guidance.
  • Responsible for regulatory reporting for the branch valuation balance sheet items and assistance with regulatory requirements relating to the business.
  • Responsible for ensuring UK data validity and completeness for valuation purposes.
  • Liaises with the local Finance, Pricing and Administration functions to ensure understanding of the priced business, the current state of the client data and any necessary adjustments or updates required to valuation models to treat the business correctly under the applicable regulatory basis.
  • Primarily responsible for bestestimate assumptions appropriate to the business and the appropriate level of granularity.
  • Maintains valuation policies where required.
  • Provide support and expertise for other projects as required.

Requirements:


  • Fellow of the Institute of Actuaries, Society of Actuaries or other recognized actuarial organization.
  • 10+ years of experience in the life insurance or reinsurance industry.
  • 5+ years of management experience.
  • Expert knowledge of Solvency II principles and practices or of an equivalent principlesbased regulatory system.
  • Good understanding and experience of the insurance industry.

Company Overview

Reinsurance Group of America, Incorporated (RGA), a Fortune 500 company, is among the leading global providers of life reinsurance and financial solutions, with approximately $3.5 trillion of life reinsurance in force and assets of $92.2 billion as of December 31, 2021.

Founded in 1973, RGA today is recognized for its deep technical expertise in risk and capital management, innovative solutions, and commitment to serving its clients.

With headquarters in St.

Louis, Missouri, and operations around the world, RGA delivers expert solutions in individual life reinsurance, individual living benefits reinsurance, group reinsurance, health reinsurance, facultative underwriting, product development, and financial solutions.


Job Reference:
UKIR00882
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