Permanent Ref No: 1425521 Qualification: Part Qualified
We’re currently recruiting for a Trainee Actuary to join our Actuarial Function. The primary responsibilities of the Actuarial Function team are to support the Head of Actuarial Function (HoAF) sign off of Solvency II results and methodology (including Technical Provisions, SCR, Profit & Loss Attribution), review best estimate bases for non-economic assumptions, and provide annual opinions on Technical Provisions and Underwriting.  
Key Responsibilities:
Solvency II & IFRS liabilities
  • Co-ordinate and monitor the evaluation of Solvency II and IFRS results and oversee general coordination of the governance and sign-off of the calculations. This includes reviewing the appropriateness of:
  • the methodology, models and processes used;
    • the assumptions, quality of data and modelling granularity used;
    • the analysis of change, and
    • approximations and limitations
  • Support the HoAF in the production of the annual Actuarial Opinion on Technical Provisions (AOTP) and the Actuarial Report on Technical Provisions (ARTP)
Basis and Methodology
  • Support the HoAF in setting appropriate best estimate bases for non-economic assumptions, and co-ordination of these updates
  • Support regular review of actual versus expected experience
  • Review proposed methodology changes and support regular review of methodologies, deep dives etc.
  • Prepare Committee and Board papers for governance approval of all assumption and key methodology papers
Underwriting & Pricing
  • Support the HoAF in the production of the annual Underwriting Opinion
  • Support the HoAF in reviewing proposals for new initiatives, pricing and product development updates etc. as well as regular product and pricing reviews.
  • Support attendance at the Product, Pricing and Profitability Committee (PPPC) representing the Actuarial Function, including providing feedback on new proposals and ensuring that appropriate actions are taken in financial reporting for any changes in the business.
Other role requirements
  • Support the HoAF in performing their regulatory duties, including their ongoing relationship with the CBI and issue resolution processes under the intra-group reinsurance agreements.
  • Develop and maintain internal relationships (in particular the Finance and Risk functions) as well as the Life Actuarial and Life Finance functions.
  • Provide support and key input into various changes or projects (and wider Group) where required.
 What We’re Looking For
  • Trainee Actuary pursuing professional Actuarial qualification
  • Knowledge of Solvency II Standard Formula methodology and its application in calculations an advantage
  • Experience in life insurance industry, in particular with unit-linked, annuities, and with-profits business an advantage
  • Familiarity with the HoAF’s statutory responsibilities
  • Excellent communication skills (written and verbal), both with a technical actuarial audience and also simplifying the communication of technical issues to a non-technical audience.
  • Ability to understand key issues quickly and to form sound judgements on what is important
Please contact Paul Walsh on +35316099404 or [email protected] for further details.

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Tagged as: Life Insurance