SVP, Chief Actuary

Hannover Re•Orlando, FL

54d•$300,000 - $445,600

About The Position

Hannover Life Reassurance Company of America (Hannover Re) is currently seeking talented candidates for our open SVP, Chief Actuary position. This is a Full-Time role within the CSS - Corporate Actuarial department. Please see below for more information regarding the essential functions of this position, required qualifications, and how to apply. Job Summary: Reporting directly to the Chief Financial Officer (CFO), the SVP and Chief Actuary is responsible for providing leadership and effective oversight of key actuarial functions including: Strategic Initiatives: Provide actuarial direction and leadership for a broad range of initiatives, ensuring alignment with the organization's strategic objectives. Regulatory Compliance: Ensure compliance and timely delivery for actuarial regulatory requirements relating to US regulated company, US captive, Bermuda regulated company and segregated accounts company. This includes statutory valuations, asset adequacy testing, and actuarial opinions Actuarial Valuation: Oversight of quarterly technical valuation process for IFRS17 and Solvency II (and related economic measures) relating to all US originated business. Ensure effective coordination with technical accounting teams and Financial Planning and Analysis functions. Regulatory Developments: Lead the organization in adhering to new reserving and related regulations and actuarial standards (e.g. principal-based reserving and IFRS17), overseeing methodology and implementation efforts. Actuarial Liaison: Serve as primary liaison for state regulators, external auditors, Hannover office counterparts and foreign affiliate on actuarial topics.

Requirements

Bachelor's degree in Actuarial Science, Applied Mathematics, Statistics, or closely related field.
A Fellow of the Society of Actuaries (FSA) and a Member of the American Academy of Actuaries (MAAA) qualified to issue qualified statements of actuarial opinion.
Minimum of 15 years of progressively increasing responsibility with actuarial and risk management leadership, preferably withing a reinsurance setting, including at least 10 years of progressively increasing leadership experience.
Strong valuation and risk management background.
Comprehensive understanding of insurance, including economic, actuarial, and accounting aspects.
Current on evolving regulatory frameworks and new accounting standards (e.g., principle-based reserving, IFRS 17)
Demonstrated ability in leading, motivating and aligning diverse teams to achieve common goals across the organization.
Exceptional written and verbal communication skills, with ability to tailor complex actuarial concepts for both technical and non-technical audiences.
Active contributor to senior management discussions, providing strategic guidance and insight on critical business decisions.
Effective at navigating rapidly changing regulatory landscapes, employing creative problem-solving where clear solutions may not exist.

Nice To Haves

Strong understanding of reinsurance in its various forms, credit for reinsurance and risk transfer considerations across different regulatory jurisdictions.
Proven ability to translate strategic vision into actionable, results-driven operational plans and to execute.
Advanced financial acumen in managing risk, optimizing performance, and ensuring measurable outcomes that align with a strong focus on results.
Strong relationships across key industry/professional groups.

Responsibilities

Actuarial Leadership: Strategic Input: Deliver wide-ranging actuarial expertise for major organizational decisions, including assessing the viability of new reinsurance solutions, evaluating capital efficiency proposals, shaping accounting and actuarial methodologies, setting company performance targets, and interpreting new accounting standards.
Actuarial Leadership: Operational Oversight: Lead and guide teams responsible for technical valuation, actuarial modeling, experience studies, assumption setting, and financial planning & analysis. Drive transformation projects related to principle-based reserving, ensuring alignment with business objectives, and oversee the implementation and interpretation of new accounting standards.
Actuarial Leadership: Industry & Regulatory Advocacy: Serve as a visible leader on emerging industry regulations and standards, such as principle-based reserving and IFRS 17. Represent the organization's interests through active participation in relevant industry committees and associations.
Actuarial Coordination: Cross-Functional Collaboration: Foster strong partnerships and effective communication across diverse business and operational units.
Actuarial Coordination: Business Support: Collaborate with business unit leaders to identify and develop new reinsurance opportunities and solutions.
Actuarial Coordination: Talent Management: Guide the recruitment, hiring, development, and retention of top-tier actuarial professionals, ensuring a high-performing and innovative team.
US Statutory Requirements: Regulatory Compliance: Oversee the accurate and timely fulfilment of US statutory obligations, including valuations, asset adequacy testing, and actuarial opinions (Actuarial Guidelines 38, 53, 55), preferred table testing, X-factor opinions, and quarterly statutory financials.
US Statutory Requirements: AG48 Reserving: Direct the reserving process and performance monitoring for Sand Lake Re, AG48 compliant captive, including delivery of the related actuarial opinion.
US Statutory Requirements: Reserving Methodology: Manage statutory reserving methodologies, implementing principle-based reserving practices and setting prudent best-estimate assumptions and margins.
US Statutory Requirements: Regulatory Liaison: Serve as the primary contact for regulators, external auditors and other stakeholders relating to all actuarial statutory reporting requirements.
Other Valuation Responsibilities: Valuation Decisions: Provide actuarial expertise for key valuation decisions-covering risk transfer qualification, reserving methodologies, and multiple accounting frameworks (US Statutory, US GAAP, IFRS, Solvency II, Bermuda Economic Basis).
Other Valuation Responsibilities: Assumption Setting & Model Governance: Provide oversight and guidance on valuation assumption setting and model governance committees, ensuring accuracy, consistency, and regulatory compliance.
Other Valuation Responsibilities: Bermuda Requirements: Manage and deliver Bermuda regulatory obligations, including actuarial opinions and disclosures for both Bermuda-regulated affiliates and segregated cell companies.
Other Valuation Responsibilities: Tax Reserves & Provisions: Oversee tax reserve calculations and ensure timely, accurate reporting of resulting tax provisions.
Other Valuation Responsibilities: IFRS Reporting: Direct quarterly IFRS reporting requirements, ensuring that all actuarial contributions meet global standards and internal benchmarks.