Jorge Noronha

Experience

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  London Life

  Sept 1994 - Jan 1996

  Assistant Actuary

  Worked in Individual Life: Participating and Non-participating business.Accountable for Individual Life EVA reporting, statutory, tax reserves and minimum capital (MCCSR) for accident, life and disability.Maintained PTS ALM models and supported CFT testing function.Developed annual mortality and experience studies.Implemented Canadian GAAP methodologies in Individual Life.Performed illustrations and quotes for substandard and international risks.

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  Tillinghast Towers Perrin

  Jan 1996 - Aug 1999

  Consultant

  Supported consulting operations across Latin America and Caribbean in the areas of market studies, product development, reinsurance, market conduct and demutualization.Provided actuarial and modeling support in M&A and Bancassurance deals covering Latin America.

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  NMG Consulting

  Aug 1999 - Nov 2002

  Principal Consultant

  Advised on assignments throughout Latin America, Africa and Europe in the areas of reinsurance portfolio analysis, financial reporting including US Statutory and US GAAP, bancassurance implementation, M&A, financial planning and market entry.Implemented MoSes in several client engagements and migrated TAS models to MoSes.Established office in Brazil and responsible for management of country P&L and hiring and development of staff. Developed client relationships and worked with industry and regulatory bodies. Show less

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  ING

  Jan 2003 - Jan 2008

  Vice President and Deputy CIRO

  Risk officer overseeing Latin American region covering Brazil, Chile, Peru and Mexico for all lines of business (life & annuities, health, auto and p&c) with over 50 actuarial and risk professionals.Provided M&A support for acquisitions and divestitures in the region. Key player in acquisition of pension business from Santander for consideration of $1.7B transforming ING Latin America into leading pension player in the region along with the sale of ING Insurance business to AXA for consideration of $1.5B resulting in a net gain to ING Group of $250M.Developed actuarial capabilities in the countries and provided oversight over actuarial items including: Embedded Value, ALM reporting, Economic Capital, Reserve adequacy testing and IFRS reserves.Reported and managed business using a variety of actuarial and reporting measures including US Stat/GAAP, IFRS, EV and MCEV. Show less

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  SulAmérica

  Jan 2008 - Dec 2010

  CIRO

  Responsible for actuarial functions in ING JV across all lines of business (life & pensions, health, auto and p&c) and for operational risk with staff of over 20 actuarial professionals.Developed ERM framework. Acted as CRO and chair of newly formed Risk Committee.Implemented internal models for use in calculation of economic capital and capital allocation. Initiated SII QIS for purposes of internal model validation.Responsible for development of pricing, underwriting and reinsurance policies following successful $430M IPO in BOVESPA and $300M debenture issuance.Actuarial support for the initial conversion to IFRS reporting and adequacy of technical provisions.Provided M&A support and analysis of over 10 acquisitions and distribution agreements.Organized insurance company ALCO with company-wide responsibility for setting good governance. Show less

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  ING Insurance Berhad

  Dec 2010 - May 2013

  Senior Vice President, CRO & Appointed Actuary

  Key player on sale of ING Malaysia to AIA Malaysia for $1.73B resulting in net gain of $1B to ING Group. Lead actuarial and risk efforts to prepare ING Malaysia and ING Thailand for a standalone ING EurAsia IPO. CRO for ING Malaysia and ING Thailand with staff of over 45 actuarial and risk professionals.Appointed Actuary for ING Malaysia with statutory responsibility for stress testing, capital adequacy, reserve calculation, experience studies, Participating Bonus Recommendation and product submissions to local regulator (BNM).Prepared ING Malaysia for eventual Solvency II implementation.Responsible for reporting of: Economic Capital, Risk Dashboards, Stress Testing, Non Financial Risk Dashboard (NFRD), Insurance risk reporting, Investment risks and review of compliance with mandates and SII preliminary assessment (QIS5).Chaired Asset Liability Committee (ALCO), Insurance Model Committee (IMC) and Board Member for Takaful JV. Show less

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  Independent Consultant and Professional Investor

  May 2013 - May 2015

  Principal Owner

  Managed family investment portfolioConsulted around strategy with SME's

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  PwC

  Jun 2015 - now

  Director

  Jorge is a director in PwC's Life Actuarial and Insurance Management Solutions. He supports US clients in their domestic and international operations (primarily Latin America). Our Actuarial & Insurance Management Solutions (AIMS) Practice is one of the largest actuarial consulting groups in the US, and consists of over 175 credentialed life/health and P&C actuaries located throughout the country. In addition to supporting PwC’s audits of 18 of the top 50 US life insurers, our life consulting team has 55 actuaries based in New York, Boston, Hartford, Philadelphia and Chicago. Our global AIMS network consists of over 1,000 professionals in 35 countries, which enables us to serve clients wherever they do business.Jorge provides a range of actuarial, risk and capital management, transaction advisory services to PwC’s life insurance clients.Jorge's Specialties: Actuarial and risk function transformation, Insurance Risk and Capital Management, Rationalization of Product portfolio, Insurance M&A, IFRS reporting and SII capital implementation. Show less