Pricing Analyst

Position Overview

To be responsible for pricing Korean reinsurance opportunities in accordance with Corporate & Divisional pricing standards and the Korean pricing manual. To assist in the marketing of RGA Korea as required by the marketing team. Other main responsibilities to include the development of pricing bases, the analysis of experience and assistance with research and product development opportunities.

Responsibilities

Pricing Proc esses and Compliance:

Build pricing models where required for new business treaties in accordance with the standard pricing model templates approved for RGA Korea. Ensure assumptions to be used are in line with current approved pricing bases. Ensure proper filing of all quotation files, pricing procedures and pricing bases. Build reference library of information used in the quotation process for audit purposes.

Pricing Basis:

Assist in the derivation and approval of Pricing Bases for each coverage type permitted in the Korean Business Unit Mandate Assist in the derivation and approval of Pricing Bases for new product types not included in the Mandate Conduct or supervise experience studies of RGA Korea business to ensure the Pricing Bases reflect the branch’s own experience where credible Propose to the Chief Pricing Actuary for signoff how RGA should differentiate its pricing from one client to the next

Marketing:

Work with the Korean marketing team to understand client’s reinsurance needs and product development requirements and in obtaining the necessary information from clients in order to quote.

Pricing Software:

Oversee maintenance of the RGA Korea AXIS template to be used in all quotes and develop the model for additional business included in the RGA Korea mandate

Letters of Offer/Treaties:

Use Divisional templates and guidelines, or gain approval to use modified templates to ensure that offers and negotiations reflect Divisional standards and protect RGA’s interests and are in accordance with the RGA Korea treaty approval and sign off processes Provide sign off on all offers made for quotations worked on Review treaties drafted for quotations worked on

Team Management:

Review all pricing procedures of assigned Pricing Actuary or Pricing Analyst in order to be in line of RGA Pricing guidelines Assist in the education of non-pricing staff on the pricing function and assist with the training of Actuarial Analysts Participate in any staff training run for the purposes of Pricing Actuaries in the region

Requirements

At least 7 years life insurance experience or relevant similar experience. Exceptional analytical skills with advanced ability to investigate, analyse and solve complex problems/issues. Proven track record of setting, managing, and achieving individual and team goals in a project oriented, customer-focused environment. Proven ability to manage competing priorities and time pressures. Demonstrated interpersonal skills with ability to liaise with individuals across geographies as well as a wide variety of operational, functional, and technical disciplines. Excellent written and spoken English communication skills are essential. Ability to travel internationally.

Preferred:

Knowledge of Asian Life Insurance products and Insurance markets. Knowledge of AXIS or similar pricing or projection software. Experience in Life Reinsurance Pricing while not essential, would be looked upon favourably. Korean language skills are not required but would be looked on favourably. Knowledge of Asian and/or Korean life insurance markets and product lines also while not required would be highly regarded.

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