The VP, Senior Reserving Actuary is responsible for, but not limited to providing an actuarial analysis to calculate the reserves needed to support the exposures of company (re)insurance products, presents key actuarial information and explaining technical matters to senior management and other internal and external key stakeholders and completes regulatory reporting requirements for the reserves.
PRINCIPAL ACCOUNTABILITIES:
Develops, maintains, and supports the processes necessary to establish the reserves and other related values.
Develops reporting patterns, monitors rate activity, limits profiles, attachment points, and other indices needed to better understand the company’s various reserving classes and makes decision regarding actuarial assumptions used in the reserving process.
Conducts complex studies using an array of statistical, financial, and other research skills to solve problems.
Conducts research to modify and improve reserving methodologies.
Monitors and analyzes results and reports to others within the organisation the quarterly reserve movements.
Respond to questions both internally and externally from the external Actuaries and Auditors.
Prepares and is responsible for schedules to meet statutory requirements.
Maintains ongoing, self-directed professional development and study and assists in the development of others.
Responsible for consultation, design, system implementation and on-going management, validation and reporting of technical solutions, (e.g. Stochastic Reserve Risk, Technical Provisions).
Works closely with Underwriting and Finance, particularly with respect to reporting and understanding the business written.
Maintains a high level of expertise and product knowledge to serve as a resource for clients and staff.
Complete ad hoc assignments, as needed.
EXPECTED COMPETENCIES:
A university degree is required in a quantitative discipline such as actuarial science, finance, science, economics or engineering; an advanced degree is advantageous.
Actuarial designation (e.g. FIA, FCAS).
At least 7 to 10 years prior relevant industry experience with at least 8 years of professional actuarial (P&C) experience and at least 2 years of (re)insurance. At least 4 years in a senior position.
Extensive knowledge of loss reserving, and forecasting techniques.
Solid understanding of accounting and financial concepts and their impact on (re)insurance.
Experience in the regulatory environment specific to the location of the role.
Strong knowledge of the latest and most widely accepted and used actuarial reserving techniques for (re)insurance liabilities.
Continually assesses work methods, processes and outcomes to drive improvement and/or business growth.
Manages resources proactively and effectively, and leverages all available information, people and technology to deliver results.
Speaks and writes effectively to influence others and gain buy-in for ideas/solutions.
Partners effectively with individuals within and outside immediate work team to accomplish objectives. Encourages and models cross-business unit or business unit/functional collaboration and knowledge-sharing across work teams.
Develops, in advance, innovative solutions to capitalise on opportunities and solve problems.
Makes connections between the past, present and future, and demonstrates forward thinking by anticipating business opportunities and challenges.
Regularly assesses personal and/or team progress toward goal achievement.
Sets high standards for self and others, and motivates, influences and engages others to deliver objectives and achieve results without relying upon direct authority.
Managing a team, recruits and selects the right people for the right jobs; provides ongoing, quality feedback to foster skill development and inspire high performance; and addresses performance issues in a direct, timely and respectful way.
Engages frequently with client/stakeholders to accurately identify their evolving needs, priorities and concerns, and makes appropriate adjustments to ensure expectations are consistently met and/or exceeded.
Prioritises external and internal client/stakeholder needs and ensures resources, activities and behaviours are focused on achieving satisfaction and providing value.
Seeks to build industry network to learn and share best practices; leverages new knowledge to impact company’s financial and operational performance.
Considers his/her audience and can accurately assess environment to tailor message/approach to different individuals, groups and situations accordingly.
Applies knowledge globally.
Strong background in business process reviews and analysis, finance systems and internal controls.
Experience communicating at the C-Suite and Board level.
We are an equal opportunity employer. We provide equal opportunity to all applicants and employees regardless of race, colour, religion, national origin, age, sex, sexual orientation, gender identity, marital status, pregnancy, disability, military status or other legally protected categories.
The fulltime base salary range for this position is $220,000 - $245,000 USD per year; base salary offered may vary based on job-related knowledge skills, and experience. The position is eligible for bonus and a comprehensive benefits package. This information is provided per the New York City Human Rights Law and applies to positions in New York City.
Our people are our most valuable resource and core to our success. This is a fast-paced business environment, demanding a strong work ethic and a results-oriented approach. We offer competitive compensation and benefits, a comprehensive talent development program, and a reward system in which employees share in the success of the company. We are an engaged member of the communities in which we live and work and have a locally-led giving philosophy with generous employee matching program, global and local community grants and employee volunteerism.We seek diversity, create equity, and practice inclusion. Our people are at the heart of everything we do. We are an equal opportunity employer. We provide equal opportunity to all qualified individuals regardless of race, color, religion, national origin, sex, sexual orientation, gender identity, marital status, pregnancy, disability, military status or other legally protected categories.
Top Skills
What We Do
RenaissanceRe is one of the world’s leading reinsurance companies, consistently recognised for our innovation, technical excellence and creative problem-solving.
Our clients are multi-national organizations and government entities who turn to us to help manage the risks of operating in a volatile and uncertain world, including climate change, natural hazards like wildfires and hurricanes, cyber threats and significant societal upheaval.
We’re proud of our world-class reputation for exceptional performance and being a trusted partner, there for our clients when it matters most. Our corporate purpose is to protect communities and enable prosperity. When disaster strikes, the claims we pay help keep businesses open and communities rebuild.
Ensuring that our technology ecosystem can anticipate and respond to unprecedented global change in the world order is an imperative. It is only through continuously seeking to innovate through transformative technology that we can deliver our strategic business priorities, aims, and objectives.
RenaissanceRe’s name comes from our founders’ intention to create a renaissance in quantifying and managing risk. Our success depends on the unique way we combine information, experience and technology to empower our decisions. We have developed new and cutting-edge technologies since the day we started in 1993 and have long been recognized as pioneers and technical innovators; designing and engineering solutions to rapidly serve clients and help them dynamically manage their business
