Pricing Analyst

Position Overview

To be responsible for pricing reinsurance opportunities in Korea. 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 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 the 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 Review treaties drafted for quotations worked on

Management Information:

Prepare reports as requested by management

Requirements

Education and Experience

Required

Bachelor’s degree in Mathematics, Finance, Statistics, Actuarial Science or related field FIAK, FSA, ASA or progress being made towards 3-7 years of actuarial experience in life insurance and/or reinsurance

Preferred

3-5+ years of experience in:

Life insurance pricing, and/or Life insurance assumption development, and/or Reinsurance pricing

Skills and Abilities

Required

Competent knowledge and understanding of actuarial concepts Competent knowledge of life insurance products and pricing Advanced PC skills, including spreadsheet and database applications Ability to understand and analyse client and population data in order to be able to set suitable pricing assumptions Ability to effectively participate in, and help foster a team-based work environment Ability to work independently and to show initiative Advanced oral and written communication skills

Preferred

Advanced ability to compile, analyze, refine and interpret large amounts of data Proficiency in actuarial projection tools Proficiency in statistical analysis tools Good English language skills

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