Job Description
Job Description
COMPANY OVERVIEW:
Converge RE provides reinsurance to life and annuity insurers seeking improved financial efficiency with the reallocation of capital through a well-capitalized A- financial strength rated reinsurance company.
Converge RE combines life and annuity reinsurance with a sophisticated investment strategy built on Lightstone’s superior real estate asset management skills, balanced by a fixed income allocation managed by Western Asset Management, a global asset manager, with over $450 billion of AUM. We pride ourselves on being able to tackle complex reinsurance opportunities and deliver creative client-centric reinsurance solutions while adhering to stringent regulatory and insurer guidelines.
Converge RE is managed by an experienced reinsurance and insurance team that has a track record of solid risk management and delivering long-term results.
Director, Actuary
POSITION OVERVIEW:
This position provides support to the CEO and the Chief Actuary, including model-building / coding and review, transaction and deal structuring support, pricing / risk analysis, deal information gathering, reserving, US financial reporting, and financial projections. This role requires actuarial expertise, knowledge of actuarial software / coding languages, and the desire to work on a small team to build and grow a new business.
ESSENTIAL FUNCTIONS:
- Model of proposed and existing transactions
- Assist with pricing / underwriting new transactions
- Support financial reporting including reserving and financial planning – Cash, GAAP, Stat
- Manage monthly reinsurance settlement process – client correspondences
- Liaise with the DB engineers to improve the settlement process
- Help build reports for internal and external audiences – senior management, Board of Directors, rating agencies, regulators, etc.
- Liaise with Accounting team on valuation of assets and liabilities and help ensure coordination amongst actuarial, accounting, and investment teams
- Liaise with the Investment team to provide projected cash flows and reserves for ALM and liquidity management
QUALIFICATIONS:
- Strong actuarial software knowledge
- Strong knowledge of Statutory and US GAAP valuation
- Recent FSA or similar level
- 5 - 10 years of experience in relevant actuarial roles
- Experience with Fixed Indexed Annuities, Multi-Year Guaranteed Annuities, and/or Traditional Life Insurance preferred but not required
- Reinsurance work experience is preferred
- Strong analytical and technical skills
- Willing to work full-time in office environment
- Knowledge of programming languages e.g., Python, R is a plus
- Knowledge of SQL, VBA is preferred
- Strong Excel skills
COMPETENCIES:
- Able to work well in a small-team environment – ability to work at multiple levels
- Excellent communication skills required
- Attention to detail – highly organized
- Flexible, ability to multi-task, and handle changing priorities
- Self-motivated
- Passionate about personal and company growth
- Comfortable with broadly defined role; ability to meet timelines