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About the Role
We are seeking a highly skilled and experienced actuary to serve as Head of Valuation for our US Life Reinsurance business. The Head of Valuation is accountable for the valuation process supporting IFRS 17, Solvency II, and US statutory reporting. This role owns the production, analysis, and delivery of US statutory reserves and the cash flows used for IFRS 17 and Solvency II reporting, including technical liability calculations, forecasts, strategic planning exercises, and sensitivity analyses. Success requires exceptional communication skills and the ability to build strong working relationships across a broad and varied stakeholder group, moving seamlessly between executive-level analysis and detailed mechanics of valuation models.
Responsibilities
- Lead valuation across all lines of business, including Individual Life and Life/LTC Combo, Individual Disability, Long-Term Care, Group Life, Group Long-Term Disability, Longevity, and smaller run-off lines such as Annuity and GMDB.
- Oversee quarterly valuation processes across all required reporting frameworks.
- Assess and approve the appropriateness of valuation methodologies under each reporting framework.
- Define model and data requirements for Model Development and Reinsurance Operations, supporting ongoing maintenance and new model development.
- Partner with the Assumption Governance team to maintain and implement valuation assumptions.
- Maintain and enhance the control environment supporting the valuation process.
- Deliver management reporting, financial analysis, and business insights.
- Produce analysis explaining movements in liabilities and the key drivers of financial results.
- Provide clear, actionable insights to senior management, business leaders, and other stakeholders.
- Review new transactions and pricing analyses to support the effective onboarding of business into valuation processes.
- Support strategic planning, forecasting, and risk assessment.
- Prepare financial projections for strategic and financial planning processes.
- Develop sensitivity analyses to support asset adequacy testing, capital and ORSA assessments, model validation, and other management or regulatory reporting needs.
- Lead, develop, and support valuation team members, fostering strong technical capabilities, accountability, and effective collaboration.
- Communicate complex valuation matters effectively to audiences ranging from senior executives and department heads to highly technical modeling, data, and valuation professionals.
- Support external reviews and examinations, including those conducted by auditors and regulators.
- Lead or contribute to strategic initiatives and cross-functional projects affecting valuation and financial reporting.
Requirements
- At least 10 years of progressively responsible actuarial experience, with significant experience in valuation and financial reporting in Life Insurance or Life Reinsurance industry.
- Demonstrated success leading and developing multi-layered actuarial teams, including managing through senior leaders, establishing clear accountability, and fostering collaboration and technical excellence.
- In-depth knowledge of US statutory valuation requirements, including applicable NAIC guidance and state insurance regulations.
- Exceptional communication and stakeholder-management skills, with the ability to convey complex valuation matters clearly and credibly to senior executives, department heads, auditors, regulators, and highly technical team members.
- Strong technical judgment and a willingness to engage in the details of valuation methodologies, models, data, assumptions, controls, and financial results.
- Strong analytical and problem-solving capabilities, with the ability to translate complex technical matters into clear, actionable insights.
- Strong business acumen, with the ability to balance technical considerations, financial reporting requirements, risk, and broader business priorities.
- Proven ability to lead multiple priorities and cross-functional initiatives, exercise sound judgment, and deliver effectively in a fast-paced environment.
Skills
- Valuation
- Financial Reporting
- Life Insurance
- Life Reinsurance
- Actuarial
- IFRS 17
- Solvency II
- US Statutory Reporting
- Communication
- Stakeholder Management
- Analytical
- Problem-Solving
- Business Acumen
- Leadership
- Project Management
Location
- US
Work Type
- Full-time
Experience Level
- Senior
- 10+ years
About the Company
- US Life Reinsurance business
- Munich Re Life US