Director, Actuary - Cayman

Job Summary

The Director, Actuary for F&G Cayman Re Ltd role provides support to F&G’s in developing reserves and analysis used in reporting financial results, including ownership of the Appoint Actuary report for F&G Cayman Re Ltd. Other responsibilities will include working with F&G’s actuarial team to develop and maintain AXIS and Excel models to support reporting requirements consistent with current and evolving actuarial valuation standards, along with robust analysis of tactical and strategic initiatives to ensure F&G continues to grow profitably while making optimal use of capital and risk budget.

This position reports to Chief Executive Officer and Chief Underwriting Officer (F&G Cayman Re Ltd) and currently has no direct reports. The role is physically located in Cayman Islands on a full-time basis.

Duties & Responsibilities

• Provide leadership in developing reserves and related analysis used in reporting financial results including:
  • Statutory and other Cayman regulatory filings
  • Capital
  • Management reporting
  • Forecasting and strategic analysis
• Serve as the subject matter expert for the relevant reporting and actuarial valuation standards required for F&G Cayman Re Ltd., including maintenance of the Corporate AXIS models by providing technical model support and training to other stakeholders
• Accountable for the delivery of the annual Appointed Actuary Report to the F&G Cayman Re Ltd. Board of Directors and to the Cayman Islands Monetary Authority (CIMA), including assessing the appropriateness of assumptions, modelling approaches and reserve adequacy under various stress scenarios.
• Support building additional modeling and analytical capabilities to meet elevated requirements given Cayman’s journey on the QJS process.
• Provide analytical support to the overall capital strategy of F&G, including holistic capital management analysis, reporting, & support. This would include US-RBC, Cayman regulatory reporting, and Internal Capital projections
• Industry participation such as working with other Cayman actuaries as CIMA develops new rules for actuarial valuation and capital and serving on committees of Cayman International Reinsurance Companies Association (CIRCA)
• Support the development and pricing of reinsurance from the concept phase through implementation. E.g. Axis model pricing support for reinsurance deals (input creation, output validation and integration)
• Collaborating with F&G teams to understand, develop and support implementation of enhancements to Corporate AXIS models used for valuation, pricing, inforce management, ALM etc.
• Ongoing modelling support (model maintenance, change management, assumption review, reviewing valuation process).
• Downstream model integration, efficiency improvements, User Acceptance Testing, local documentation, controls and governance
• Support for Corporate documentation, controls and governance, (testing validation and sign offs)

Supervisory Responsibilities:  This role does not have formal people leadership responsibilities but may provide guidance, mentorship, or subject matter expertise to others.

Knowledge, Skills & Abilities

• Exceptional analytical/quantitative skills
• Strong communication skills (written and verbal)
• Knowledge and experience with reinsurance including statutory risk transfer, insurance, pension risk transfer products, investments, and basic US-Stat & GAAP accounting
• Excellent problem-solving & organization strategy skills
• Proficiency in Microsoft Office
• Data cleaning/sorting/organization/analysis
• Ability to organize and prioritize tasks
• Ability to operate diligently in a remote/partially remote work environment
• Ability to work individually and with a team, in an extremely agile and fast-paced work climate

Minimum Qualifications

• Bachelor’s degree or equivalent experience
• ASA and MAAA or equivalent certifications, FSA or equivalent preferred
• 10+ years of related actuarial experience with progressively more responsibility
• 5+ years of experience, including:
• Modeling and related processes under a variety of applications (e.g. valuation, pricing, ALM, Stat/GAAP, capital forecasting, ad hoc tactical and strategic analysis)
• Insurance/investment actuarial experience
• Offshore reinsurance experience required
• Experience with and knowledge of AXIS or similar actuarial modeling software preferred

Other Requirements

• This position primarily involves sedentary work, requiring long periods of sitting, regular use of a computer, and occasional standing or walking, with reasonable accommodations available.
• Perform other functions, duties and projects as assigned
• Regular and punctual attendance

Ability to travel up to:  5% of the time

Additional Information

Work Environments

F&G believes in an employee-centric flexible environment, which is why we offer the ability for in-office, hybrid and remote work arrangements. During the hiring process, you'll work with your leader to decide what works best for your role.

F&G complies with federal and state disability laws and makes reasonable accommodations for applicants and candidates with disabilities, unless such accommodation would cause an undue hardship for F&G.  If reasonable accommodation is needed to participate in the job application or interview process, please contact [email protected]. 

Join our employee-centric hybrid work environment: F&G Careers

About F&G

Since 1959, Fidelity & Guaranty Life Insurance Company (F&G) has offered annuity and life insurance products to those who are seeking security in retirement and protection during life’s unexpected events.

As a national Top Workplace1, an Iowa Top Workplace2 and a proud equal opportunity employer, F&G team members are empowered, collaborative, dynamic and authentic. We believe that by embracing these values, we will continue to build and strengthen the company while continuing to be a great place to work.

1Top Workplaces USA 2022 - 2023

2Des Moines Register Top Workplaces 2018 - 2022

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