Life Pricing Actuary
AIG
Pembroke, ON
Functional Area:
AC - Actuarial
Estimated Travel Percentage (%): Up to 50%
Relocation Provided: Yes
Fortitude Group Services, Inc
The primary purpose of the job is to price life insurance portfolios for assumption and cession, and maintain a suite of tools and expertise to accurately and competitively price Life portfolios. The life pricing actuary will be responsible for developing strategies and tools that will drive underwriting pricing decisions, working and reporting to the Head of Life Deals. The role will also be responsible for suggesting underwriting strategies and actions to senior management. This position requires actively engaging with clients, brokers, and counter-parties, both domestically and internationally,. The Head of Pricing must excel at extrapolating from limited information and applying core concepts to innovative structures and unique risks. This individual must be able to take into account economic and regulatory conditions and risks.

Further, the candidate must have a deep understanding of insurance risk and operations broadly. The Head of Pricing will be expected to develop a deep understanding of Fortitude Re’s existing Life portfolios and operations, and how new portfolios will interact with Fortitude Re’s existing liabilities. A candidate should have strong communication skills to enable them to convey pricing considerations to the acquisition team, to the broader Fortitude Re management team.

The Pricing Actuary must be able to juggle actuarial and business concerns, and be sensitive to the negotiation process. Ultimately, this individual will be expected to make highly complex decisions quickly, with consideration for portfolio risk profiles, as well as economic incentives, negotiation strategies, and each individual counter-party's goals and tactics. This person must be comfortable in an “execution” culture, where they are expected to show initiative, find proactive solutions, and execute.

What we are looking for

  • A Fellow of the Society of Actuaries (FSA)
  • A graduate degree in a related field
  • Minimum of 10 years of experience
  • Proactive, independent problem solver
  • Reinsurance experience, pricing experience, and insurance risk management exposure
  • Experience pulling, managing, and cleansing data
  • It is preferable for an applicant to have people-management background.
It has been and will continue to be the policy of American International Group, Inc., its subsidiaries and affiliates to be an Equal Opportunity Employer. We provide equal opportunity to all qualified individuals regardless of race, color, religion, age, gender, gender expression, national origin, veteran status, disability or any other legally protected categories.

At AIG, we believe that diversity and inclusion are critical to our future and our mission – creating a foundation for a creative workplace that leads to innovation, growth, and profitability. Through a wide variety of programs and initiatives, we invest in each employee, seeking to ensure that our people are not only respected as individuals, but also truly valued for their unique perspectives.