Company Description
Chariot Reinsurance, Ltd. (Chariot Re), is an independent Bermuda-based Class E life and annuity reinsurance company. Co-sponsored by MetLife and General Atlantic with backing from Chubb and other investors, Chariot Re’s unique platform leverages MetLife’s global liability origination capabilities and the asset management expertise of MetLife Investment Management and General Atlantic to deliver differentiated solutions that combine scale, specialization, and a long-term perspective.
Role Description
Reporting to the Lead Pricing Actuary, the Pricing Actuary is a key position. This person will predominantly be responsible for the development, maintenance and running of the models to support pricing activities. This includes the review and validation of model inputs, liaising with internal and external partners and reviewing assumptions. The Pricing Actuary will also support the completion of required submissions related to new business, both for internal and external stakeholders.
The ideal candidate will be a technically strong actuary, ideally with a strong Prophet or modeling background, preferably from a pricing perspective. The candidate will also be familiar with experience studies, developing best estimate assumptions or reviewing and challenging existing assumptions. Preferably, the candidate also has experience in US Statutory Reserving and/or the Bermuda statutory regime (SBA, BSCR).
Key Responsibilities
- Support the end-to-end pricing of new business including closed block and flow reinsurance deals.
- Develop and maintain pricing models and tools and perform development, testing and model validation including version controls.
- Prepare required inputs for pricing models and tools, including sales and business mix assumptions, liability assumptions and asset and reinvestment assumptions.
- Work closely with the Investments function and other stakeholders on asset allocation on reinvestments assumptions and provide inputs to support investment decisions.
- Support Actuarial Valuation to derive best estimate assumptions. Perform reviews/validation of best estimate assumptions to be used for pricing new business.
- Support the completion of regulatory filings related to new business, including responses to follow-up queries. Coordinate the completion of deliverables to Chariot’s Board and/or Committees in relation to new business and pricing, in particular Underwriting Reports and new business approvals.
- Maintaining database of all pricing assumptions and documenting core pricing methodologies.
- Support the Risk and Financial Planning, and Analysis functions with new business stress testing and projections requirements.
- Work closely with technology and external partners to create streamlined pricing processes.
- Support Actuarial Valuation with the onboarding of new business into the valuation environment.
Qualifications / Skills / Experience
- Bachelor’s degree in a quantitative discipline such as mathematics, statistics, actuarial science, etc.
- Near to qualified or newly qualified Fellow of the Society of Actuaries or equivalent designation.
- 4+ years of experience in a valuation, modeling or pricing role, ideally with experience of annuities and life insurance blocks of policies and reinsurance. Experience developing models in Prophet or a similar modeling platform would be an advantage.
- Knowledge of Bermuda financial reporting and solvency regimes, and of US Statutory reserving, is an advantage.
- Strong interpersonal, written and oral communications skills, including a proven ability to build relationships with teams across the business.
- Experience producing deliverables such as reports, memos, presentations, etc for regulators or Board level audiences would be an advantage.
- Experience with actuarial modeling process design, controls, and automation.
- Ability to drive results, sometimes under tight deadlines.
What We Offer
- Competitive package (up to $190,000), dependent on qualification status and experience.
- Medical, dental, and vision insurance
- Flexible PTO
- Competitive retirement benefits
- Opportunities for professional growth and development
- Paid parental leave
- Volunteer opportunities
Additional Information
This role does not qualify for US immigration sponsorship.
We are an equal opportunity employer and value diversity at our company. We do not discriminate based on race, religion, color, national origin, gender, sexual orientation, age, marital status, veteran status, or disability status.
Chariot Re does not accept unsolicited resumes from staffing agencies, search firms, or any third parties. Resumes submitted to any Chariot Re employee without a prior written agreement in place shall be considered the property of Chariot Re, and the Company shall not be obligated to pay any referral or placement fee. Agencies must obtain advance written approval from Chariot Re’s HR department to submit resumes, and only in conjunction with a valid, fully executed agreement.