Head of Actuarial Function

JOB PURPOSE/ROLE
  
The Head of Actuarial Function (PCF-48) is a pivotal role responsible for fulfilling the actuarial function in accordance with Solvency II regulations, while leading the local reserving team.
  
Your primary objective is to oversee the calculation and reporting of reserves and actuarial key figures to internal and external stakeholders under different reporting standards (Solvency II and IFRS 17), ensuring compliance with these standards as well as with all regulatory, Group and local requirements. 
  
KEY RESPONSIBILITIES 

• The Head of Actuarial Function will be a member of the Executive Management Committee.
• Fulfil the requirements of the Actuarial Function as defined by Solvency II regulations, Article 48 and ensure compliance with any requirements issued by the Central Bank of Ireland for the Head of Actuarial Function, including the requirements under the 'Domestic Actuarial Regime and Related Governance Requirements' and the 'Guidance for (Re)insurance Undertakings on the Head of Actuarial Function role'.
• Coordinate the quarterly calculation of the Solvency II Technical Provisions and provide an annual Actuarial Opinion on Technical Provisions to the Central Bank of Ireland and local Board of Directors.
• Provide an annual Actuarial Report on Technical Provisions and annual opinions relating to underwriting policy, retrocession adequacy and contributions to Risk Management to the Board of Directors.
• Calculate reserves on an IFRS 17 basis on a quarterly basis, ensuring compliance with Group and local requirements and ensure that the financial position under IFRS 17 is well understood.
• Oversee the annual review of key actuarial assumptions and identify market trends for non-life business. This includes monitoring and validating reserves advised by certain cedents, such as under large net quota share treaties / capital management reinsurance contracts.
• Lead the local actuarial team, fostering development of team members and collaboration across different actuarial teams and different functions within the Group globally.
• Provide actuarial insights and advice to the Executive Management team and Board of Directors on key business, financial, and strategic decisions.
• Provide the actuarial inputs for the SFCR, RSR, the Financial Statements and the actuarial QRTs.
• Support strategic P&C business initiatives, contribute to streamlining reserving and reporting processes and the development of actuarial models in collaboration with other actuarial teams.
• The Head of Actuarial Function will attend and present at the Reserve Committee, Audit Committee and Board meetings, and will attend, and contribute to, the Risk Committee, Underwriting Committee and Financial Reporting and Disclosure Committee meetings.

For further details, please contact Paul@acumen-resources.com
 
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