Job Description

About the Role (D-band) (FCIA) (E band -ACIAs near completion (12 months) are encouraged to apply)

Reinsurance Pricing

• Build and execute insurance costing models in alignment with profitability steering values and Swiss Re governance. Create and challenge actuarial assumptions, results and conclusions. Review and understand all cash-flows.
• Understands client needs and requirements. Presents and recommends alternatives. Effectively represents Swiss Re with French and English speaking clients and represents the team with internal stakeholders and colleagues.
• Analyze pricing data and additional subjective evidence, assess risk, interpret results and make recommendations.
• Maintains current knowledge of existing and prospective clients, business practices, industry trends, Swiss Re, Client, and Industry experience, and regulatory conditions.
• Work with chief and technical underwriters to understand and evaluate each client\'s traditional and accelerated underwriting regimes
• Support or lead the development of costing and pricing strategy tools, and infrastructure.
• Support or work with the clients, cross functional team to robust understanding of risks to be reinsured so that they can be assessed and costed accurately.
• Understand variability in possible outcomes and present results

Pricing Framework and Assumption Development

• Design and assess revisions to costing assumptions.
• Update best estimate assumptions based on emerging experience and synthesizing relevant evidence to update prior beliefs.
• Maintain Terms of Trade, recommend updates.
• Execute, verify and document study results and assumption analysis.
• Build and maintain Swiss Re morbidity and mortality tables that are outside Integrated Costing Environment (ICE) scope.
• Development of assumptions for new products and risks.

Oversight and monitoring of Swiss Re business performance

• Monitoring Our Business: creation and maintenance of portfolio performance and steering tools. Use Stargate where applicable to create efficient regimes.
• Lead or support annual Open Treaty Review process, communicate results and recommendations, and collaborate with L&H Reserving to fully understand and communicate differences.
• Collaboration with Finance, L&H Reserving, Risk Management, Client Markets on administrative issues, alignment of methodologies, pricing processes, and renewal analyses
• Maintain an understanding of both industry-wide and internal financial reporting methodologies and how they impact costing.
• Verify the implementation of the financial reporting methodologies with the costing process for correctness and adherence to Swiss Re standards.
• Development and maintenance of Portfolio steering tools.
• Support margin management, and ad-hoc testing from Chief Underwriting or Pricing Office or other divisions upon request.

Experience Studies

• Conduct or use mortality and morbidity studies utilizing client data or internal data for client quoting, client services, assumption development and business monitoring.
• Validates data, analyzes studies, identify trends questions results and seeks explanation
• Derive recommendations. Takes shortfalls in analysis into account in drawing conclusions.
• Develop client solutions and services.
• Designs analytical review process and select appropriate assumptions and methods.

Communications and Operations

• Collaborate on development of communications strategy
• Build communication materials for client, internal, rating agency, regulatory and industry presentations
• Prepare and provide input to management reports
• Advocate on expense allocations and participate in the management and reporting of local expenses.
• Pricing advocate on treaty issues, product referrals, and other local, regional, or global matters relating to corporate governance.

Additional Responsibilities:

• Assist in internal training on technical product matters
• Participation in seminars, publications and committees that enhance Swiss Re\'s established leadership position in life and health reinsurance
• Build strong networks and open communication with key stakeholders.
• Effectively communicates conclusions and implications; builds strong arguments.
• Adheres to documentation and document management standards.
• Definition and development of best practice standards.
• Streamline methodology and implement operational efficiencies.
• Contributes to new tools and methods for enhancing group-wide standards.
• Supports or leads projects.
• Presents at meetings of actuarial and/or other industry organizations

About the Team:

We are a hardworking, ethical, engaged, and productive team living a performance culture. We help make the world more resilient by helping our clients provide more and better insurance protection to their customers than would otherwise be possible without Swiss Re. Together with our clients, we apply new perspectives knowledge, and deploy our capital to price and anticipate risk. Through groundbreaking risk assessment and portfolio steering we support smarter solutions for our clients and Swiss Re. We believe and act like owners and investors in our business. We help support and build a win-win relationships with our clients.
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The role requires the assessment, structuring, and pricing of mortality and morbidity risks offered for reinsurance by Canadian and Caribbean life and health insurers. To be successful, you must exemplify Swiss Re\'s core values of integrity, a passion to perform, agility, client centricity and collaboration.

You will be based in Toronto or telework either in Ontario or Quebec.

About You:

Responsibilities will include leading and supporting key projects and pricing within the local, regional, and global teams, and ensuring consistent application of sound reasoning and actuarial and financial principles, methods and tools.

• Bilingual in English and French is required
• Minimum four-year degree in mathematics, statistics and probability actuarial science or related field
• Minimum five (5) or more years experience
• Proven mathematical skills and analytical ability and additional coursework in IT, business and/or communications.
• Solid understanding of actuarial concepts and principles obtained through progression towards or completion of ASA or FSA/FCIA designations.
• Ability to work with large data sets, create code, and make inferences from data and communicate results is an asset. Knowledge or R or Python would be an asset.
• Prior experience with group lines would be an asset. A willingness to learn group about the group market and group pricing.
• Demonstrates probabilistic thinking and inferential reasoning. Avoids confirmation bias, actively seeks credible contrarian perspectives to fully inform own view.
• Ability to review analytical results, derive recommendations and communicate implications to all stakeholders.
• Makes sound business decisions, reflecting various points of view, benefits, disadvantages, timing, and availability of resources, even when based on limited data and uncertainty.
• Ability to balance differing viewpoints and make decisions factoring multi-disciplinary impact. Challenges assumptions, methods and conclusions.
• Understanding of insurance and reinsurance markets and products, legal, tax and regulatory environment, capital markets, and basic accounting and reserving
• Proficiency with MS Office, AXIS. Comfortable using and applying software and tools to improve productivity.
• Enjoys individual work and collaboration
• Project Management would be an asset.

About Swiss Re

Swiss Re is one of the world\'s leading providers of reinsurance, insurance and other forms of insurance-based risk transfer, working to make the world more resilient. We anticipate and manage a wide variety of risks, from natural catastrophes and climate change to cybercrime. We cover both Property & Casualty and Life & Health. Combining experience with creative thinking and cutting-edge expertise, we create new opportunities and solutions for our clients. This is possible thanks to the collaboration of more than 14,000 employees across the world.

Our success depends on our ability to build an inclusive culture encouraging fresh perspectives and innovative thinking. We embrace a workplace where everyone has equal opportunities to thrive and develop professionally regardless of their age, gender, race, ethnicity, gender identity and/or expression, sexual orientation, physical or mental ability, skillset, thought or other characteristics. In our inclusive and flexible environment everyone can bring their authentic selves to work and their passion for sustainability.

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Reference Code: 124459

Swiss Re