SVP, Head of Reserve Forecast Analytics

POSITION SUMMARY: 

Reporting to the Chief Actuary, you will coordinate and perform analysis to calculate the forecasted future reserves, associated cashflows and reserve uncertainty associated with the company’s re/insurance exposures. You will support investments, ceded, capital partners, capital planning and other teams in understanding dynamics related to reserves, now and in the future to aid better decision making today. You will explain technical matters to senior management and other internal and external stakeholders to ensure they understand the information being presented.

PRINCIPAL ACCOUNTABILITIES:

• Oversees the development and calculation of reserve risk, used to determine capital requirements and advises on modelling improvements keeping up to date with the latest developments in this area.
• Develops, maintains, and supports the processes necessary to forecast future reserves and other related values working with counterparties in the business to understand evolving requirements and meet RenaissanceRes strategic goals.
• Thoughtfully considers alternative future scenarios and how that should impact decision making in shaping the business now to get the optimal future outcome.
• Ad-hoc assignments related to the above areas, pertaining to investments ceded and portfolio management as well as numerous other areas.
• Conducts complex studies using an array of statistical, financial, and other research skills to solve problems. 
• Supports the Chief Actuary and other senior stakeholders with strategic decision making.
• Works with numerous internal and external stakeholders and is able to communicate results and consequences of complex analysis related to forecasted reserves and reserve risk.
• Responds to questions both internally and externally and maintain strong relationships with third party providers.
• Maintains a high level of expertise and product knowledge to serve as a resource for clients and staff.
• Maintains ongoing, self-directed professional development and study and assists in the development of others.
• Completes ad hoc assignments, as needed.

EXPECTED COMPETENCIES:

• Makes connections between the past, present and future, and demonstrates forward thinking by anticipating business opportunities and challenges.
• Solid understanding of accounting and financial concepts and their impact on (re)insurance, including economic valuation principles.
• Extensive knowledge of reserve risk modelling (with some capital experience), loss-reserving, and forecasting techniques. 
• Experience in various regulatory environments and capital frameworks.
• Experience in structuring and evaluation of reinsurance solutions.
• High degree of competency with various technologies – experience with coding, particularly in python, desirable.
• Speaks and writes effectively to influence others and gain buy-in for ideas/solutions.

• A university degree is required preferably 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 10 years prior professional actuarial (P&C) experience with at least 5 years of (re)insurance experience and at least 4 years in a senior position.
• Strong knowledge of the latest and most widely accepted and used actuarial reserving techniques for (re)insurance liabilities.

• 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.
• 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.
• Regularly assesses personal and/or team progress toward goal achievement.
• Develops, in advance, innovative solutions to capitalise on opportunities and solve problems.
• Sets high standards for self and others, and motivates, influences and engages others to deliver objectives and achieve results without relying upon direct authority.
• 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.
• 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.