Actuarial Associate - Converge RE

COMPANY OVERVIEW:

Lightstone, founded by David Lichtenstein, is one of the most diversified privately held real estate companies in the United States. Headquartered in New York City, Lightstone is active in 26 states across the country, developing, managing and investing in all sectors of the real estate market, including residential, hospitality, commercial, and retail. With 209 existing properties, Lightstone's over $9 billion portfolio currently includes over 12 million square feet of industrial, life sciences, and commercial properties, over 30,000 residential units, and over 5,100 hotel keys. Lightstone's development portfolio includes over $3.5 billion currently under development in the residential and hospitality sectors spread across New York City, Los Angeles, and Miami.

CONVERGE RE:

Converge RE is an established and evolving growth oriented private capital backed life reinsurance business focused on providing reinsurance solutions to life & annuity insurance providers. Launched in 2017, Converge RE is backed by Lightstone Group's balance sheet, providing the business with deep, permanent capital to support its growth and development. Converge RE currently has approximately $1.7 billion of AUM. Converge RE is focused on long-tailed risks with low volatility and predictable cash flows inclusive of Annuities, Specific Asset Intensive Mortality, and Structure Annuities. Converge RE benefits from Lightstone Group's corporate infrastructure and investment capabilities.

http://www.converge-re.com

ROLE: Actuarial Associate

POSITION OVERVIEW:

This role serves as a critical liaison between the actuarial team and data functions, ensuring accuracy, efficiency, and actionable insights in the management of reinsurance programs. The ideal candidate will leverage their technical expertise and reinsurance knowledge to contribute to monthly settlement tasks and data management.

ESSENTIAL FUNCTIONS

• Reconcile monthly settlement/inforce data files from cedents, including:
  • Account value roll forward.
  • Claim reconciliation.
  • Cash settlement reconciliation.
• Generate reports on key reinsurance metrics, such as premiums written, claims paid, and ceding commissions, to support management decisions.
• Perform regular reconciliations of reinsurance accounts to ensure alignment between ceding companies' records and reports as well as the reinsurer's database.
• Act as a liaison between actuarial and data functions to streamline processes and ensure data accuracy.
• Support experience study and A/E analysis.
• Assist with inforce management and other actuarial tasks as needed.
• Support ongoing initiatives to improve reinsurance administration.
• Complete other duties as assigned.

QUALIFICATIONS

• Experience: 2 - 5 years in relevant actuarial roles.
• Certification: Career ASA or Pre-ASA (successful completion of 2 - 4 SOA exams, with no plans to pursue additional exams).
• Technical Proficiency:
  • Experience with reinsurance administration and data analytics.
  • Advanced knowledge of Microsoft Office Suite.
  • Knowledge of a programming language is highly desired.
  • Strong SQL (or equivalent) skills for database management is desired.
  • Knowledge of actuarial software (AXIS, ALFA) is desired.
• Attributes:
  • Strong attention to detail.
  • Excellent oral and written communication skills.
  • Ability to collaborate effectively in a small team environment.

Competencies

• Collaboration: Work seamlessly across actuarial and data functions to achieve shared goals.
• Adaptability: Adjust to new challenges and prioritize tasks.
• Detail Orientation: Ensure high accuracy and quality in all reconciliations and reporting tasks.

Salary - $100- $120k, plus bonus, offered salary commensurate with experience