Actuary

Protective Life Reinsurance Bermuda, Ltd. (PL Re) is an affiliate reinsurance company based in Bermuda that reinsures life and annuity products from its affiliates within the Protective Life group. The PL Re Actuary will support all actuarial functions of the entity. This will include actuarial support for a broad range of tasks including new business pricing, valuation, modeling, and reporting. In addition, the role will support other functions including financial analysis, asset-liability management, capital planning and regulatory reporting. Reporting to the PL Re Chief Actuary, the successful candidate will play a critical role in ensuring the accuracy of the financial statements and adequacy of capital. The candidate will also work closely with the PL Re Chief Risk Officer and support various risk analysis.

Key Responsibilities:

• Support pricing and risk analysis for all PL Re reinsurance transactions
• Maintain and update actuarial models, following defined change management procedures
• Support quarterly valuation by calculating reserves, performing attributions and creating reports and analytics to explain results to management
• Perform quarterly Scenario Based Analysis (SBA) and calculate other components required for economic balance sheet
• Complete required actuarial components for quarterly and annual financial reporting submitted to the Bermuda Monetary Authority
• Support analysis of life and annuity policyholder behavior to ensure best estimate assumptions reasonably represent the expected performance of the business across a range of scenarios
• Monitor emerging issues to ensure models are updated and valuation procedures, controls and analysis are in place to support new regulations
• Perform modeling and analysis of PL Re liabilities and assets in support of strategic business plan, Economic Solvency Ratio, duration analysis
• Work with Capital Planning and ALM teams to optimize SBA results and contribute to capital optimization strategies
• Respond to requests from external auditors, external Approved Actuaries, and the regulator
• Develop and maintain strong partnerships with key stakeholders including accounting, FP&A, product, internal audit, external audit, and risk management
• Perform actuarial controls and create/maintain process documentation
• Other ad hoc projects and tasks as required
  
  
  

Minimum Requirements, Skills & Experience:

• Bachelor’s degree in a quantitative discipline such as mathematics, statistics, actuarial science, etc
• Associate or Fellow of the Society of Actuaries or equivalent designation
• 4 years’ relevant actuarial experience with a strong preference for annuity reinsurance and asset modeling exposure
• Previous experience in pricing and valuation of life and annuity products is preferred
• Knowledge of key financial reporting, accounting, and solvency regimes, including US GAAP, US Statutory, and US tax, and ideally Bermuda Statutory and Bermuda Economic,
• Experience with actuarial valuation software such as PolySystems, experience in general programming and systems automation a plus
• Experience with actuarial valuation process design, controls, and automation
• Capable of summarizing and communicating complex topics clearly and succinctly across all levels and functions of the organization
• Able and willing to work on multiple projects and meet tight deadlines as needed
  
  
  

We may use artificial intelligence (AI) tools to support parts of the hiring process, such as reviewing applications, analyzing resumes, or assessing responses. These tools assist our recruitment team but do not replace human judgment. Final hiring decisions are ultimately made by humans. If you would like more information about how your data is processed, please contact us.

Protective’s targeted compensation for this position is $103k-$144k. Actual salaries may vary depending on factors, including but not limited to, job location, skills, and experience. The range listed is just one component of Protective’s total compensation package for employees.

This position also includes cash compensation as a part of a sales incentive plan (SIP).