Research Actuary

Reinsurance Group Of America, Incorporated; City of Westminster; On-site; GBP 50,000 - 70,000; Full time

Job summary

A global reinsurance company based in the UK is seeking an actuary to join their actuarial research team. The ideal candidate will have a strong numerical background with a minimum of 3 years in an actuarial role. Responsibilities include leading projects to develop and monitor pricing assumptions and contributing to marketing efforts. This position offers an opportunity to grow in a collaborative environment and work on innovative insurance solutions.

Benefits

Valuable knowledge and experience with diverse colleagues

Respectful and welcoming work environment

Qualifications

• Nearly or newly qualified actuary.
• Minimum 3 years experience working in an actuarial role.
• Grade of 2.1 or better in a numerical subject.

Responsibilities

• Lead and participate in actuarial research projects.
• Develop pricing and valuation assumptions supported by analysis.
• Contribute to marketing efforts and build corporate profile.

Skills

Knowledge of actuarial concepts

Advanced investigative skills

Ability to work well in a team

Clear and concise written style

Knowledge of statistics

Education

University degree in a numerical subject

Tools

Microsoft Excel

R

Python

SQL

Job description

Reinsurance Group Of America, Incorporated

City Of London

GBP 50,000 - 70,000

RGA is a purpose-driven organization working to solve today’s challenges through innovation and collaboration. A Fortune 200 Company and listed among its World's Most Admired Companies, we’re the only global reinsurance company to focus primarily on life- and health-related solutions. Join our multinational team of intelligent, motivated, and collaborative people, and help us make financial protection accessible to all.

A Brief Overview

The role holder will be a important part of the UK Actuarial Research team leading and taking part in projects across all aspects of the team’s responsibilities. The UK Actuarial Research team is a key business partner for all actuarial teams in the UK, producing assumptions for pricing and valuation for all lines of business.

The ideal candidate with be intellectually curious and be intrinsically motivated by the pursuit of new insights, knowledge and improving existing processes/methods.

What you willdo

Basis Development

• Production and acceptance of fully considered and documented best estimate pricing and valuation assumptions (current incidence, trends and lapses) supported by appropriate statistical analysis and taking into account specific knowledge of the particular market, including allowances for emerging trends and themes. Such bases to cover the following products:
• Term and Whole of Life
• Critical Illness
• Longevity risk products, significantly arising from Occupational Pension scheme longevity risk transfers and individual annuities
• Impaired Life Annuities
• Income Protection
• Ensure the above bases are regularly monitored and reviewed as necessary.

Other Research

• Development of underlying knowledge to enhance the pricing of risks by RGA UK, for example through the development of new models as well as acquisition and analysis of new datasets.
• To maintain knowledge of all reinsurance products and markets in the UK and contribute to strategy to enter or exit product lines.
• To contribute to RGA’s goal of being a leading individual life mortality and morbidity reinsurer in all markets in which it operates.
• Enhance our current statistical models of mortality, morbidity and persistency in particular to further supplement traditional actuarial experience studies.
• To use predictive modelling techniques and be aware of the opportunities to apply them in the UK Insurance market for the benefit of RGA and its clients.
• Manage ad-hoc research projects which enhance RGA’s knowledge of the risks that we take.

Marketing

• To assist in building RGA’s corporate profile and to contribute to RGA’s marketing efforts in the UK and Ireland. For example, members of the team contribute by:
• Being a member of, and actively contributing to, industry working parties;
• Presenting at seminars and events;
• Presenting to specific clients on specialist topics.

Thought Leadership

• Contribute to internal RGA committees worldwide on specific areas of best practice or technical development;
• Ensure UK developments are properly leveraged within RGA worldwide.

Qualifications and Experience

• Nearly or newly qualified actuary;
• Minimum 3 years experience working in an actuarial role.
• University degree in a numerical subject, with a grade of 2.1 or better.

Skills and Abilities

Required:

• Knowledge of actuarial concepts underpinning mortality, morbidity and persistency studies;
• Knowledge of the UK insurance marketplace, including Life assurance, Critical Illness and Annuity products;
• Ability to work with minimal guidance for extended periods of time, utilising other resources as appropriate to deliver responsibilities.
• Advanced investigative, analytical and problem solving skills;
• Advanced knowledge of Microsoft Office suite, especially Excel.
• Knowledge of statistics and statistical modelling;
• Experience in, and aptitude for, programming to improve processes, create tools.
• Ability to work well in a team environment, participate in department/team projects and balance detail with departmental objectives;
• Ability to undertake multiple projects simultaneously;
• Clear and concise written style;
• Ability to communicate complicated technical concepts clearly, both verbally and in written form;

Preferred

• Advanced knowledge of programming languages commonly used for data analysis and modelling (e.g. R, Python, SQL)
• Previous use of statistical modelling techniques such as Generalised Linear Modelling;
• Experience of both reinsurance and direct office environments.
• Medical knowledge, including the UK medical marketplace.
• Ability to read and critically assess academic and commercial research papers.

What you can expect from RGA:

Gain valuable knowledge from and experience with diverse, caring colleagues around the world.

Enjoy a respectful, welcoming environment that fosters individuality and encourages pioneering thought.

Join the bright and creative minds of RGA, and experience vast, endless career potential.