Director, Pension Risk Transfer Actuary

Everlake is a leading life insurance company headquartered in Northbrook IL with a satellite office in Lincoln NE. If you have a passion for the insurance business value working in a dynamic team environment and are ready to roll up your sleeves to help us achieve best-in-class results this may be the role for you. At Everlake you will find the dynamics of a small entrepreneurial organization and the strength of a larger corporation rolled into one. We think big and evolve quickly backed by a collaborative mindset and a solid financial foundation.

Everlake is seeking an experienced actuary to help build and lead our internal Pension Risk Transfer (PRT) reinsurance actuarial and underwriting capabilities. This role will be responsible for evaluating and pricing PRT reinsurance transactions developing mortality and deferred-life assumptions and establishing a repeatable internal underwriting framework.

The individual will initially work closely with existing Everlake and Blackstone teams external advisors and transaction partners with the objective of progressively bringing core PRT capabilities in-house.

This position serves as a key partner to Investments Asset Liability Management (ALM) Capital Reinsurance Finance Risk Management and Corporate Development and will play an important role in evaluating transaction opportunities developing underwriting standards and supporting the continued growth of Everlakes PRT reinsurance business. The individual will develop scalable actuarial underwriting and analytical capabilities while maintaining strong governance disciplined risk management and transaction oversight.

The successful candidate will be expected to build Everlakes internal capability to independently underwrite price and challenge PRT transactions while using external advisors selectively for specialized expertise data and independent validation.

Lead actuarial analysis and pricing of PRT reinsurance opportunities including participant data plan provisions and liability cash flows

Develop mortality and longevity assumptions including MED analysis and case-specific adjustments

Develop assumptions for deferred participants including retirement and commencement behavior and benefit elections

Review and challenge liability projections reserves and assumptions provided by cedants and external advisors

Assess the impact of actuarial assumptions on transaction economics capital and risk-adjusted returns

Partner with investment ALM capital and reinsurance teams on transaction evaluation

Establish PRT reinsurance underwriting standards assumption governance and pricing processes

Support development of internal PRT reinsurance models and analytics and facilitate knowledge transfer from external advisors

Serve as a primary actuarial lead for cedants consultants and transaction counterparties throughout the evaluation and execution of PRT opportunities

Lead actuarial diligence efforts and coordinate external advisors supporting transaction evaluation underwriting and execution

Build and maintain relationships with cedants consultants and market participants to support the continued development of Everlakes PRT capabilities

Participate in live transaction execution and provide recommendations to senior management

Bachelors degree in Actuarial Science Mathematics Statistics Finance Economics or a related quantitative field required; advanced degree preferred

FSA or equivalent actuarial qualification preferred

8 years of actuarial experience with meaningful U.S. PRT experience

Direct experience pricing or underwriting PRT transactions at an insurer reinsurer or leading advisory firm

Strong knowledge of pension mortality and longevity assumptions including MED analysis and mortality improvement methodologies

Experience with deferred-life assumptions and other pension plan provisions strongly preferred

Experience projecting PRT liability cash flows and reserve modeling

Understanding of the interaction among actuarial assumptions investments ALM capital and transaction economics

Demonstrated experience working directly with pension plan sponsors cedants consultants or transaction counterparties within the PRT market

Experience leading actuarial diligence efforts and managing external stakeholder relationships throughout the transaction lifecycle

Strong communication relationship management and external-facing skills with the ability to communicate complex actuarial concepts to both technical and non-technical stakeholders

Proven ability to build and enhance actuarial processes underwriting frameworks and analytical capabilities in support of a growing business

Strong actuarial judgment and ability to operate effectively in a dynamic and evolving business environment

Medical dental and vision benefits

401-k plan

Incentive Program

Flexible paid time off plan

Hybrid work environment

Paid holidays

Tuition assistance