• Permanent
  • Ireland
  • Ref No: J6840
  • Qualification: Qualified

The Actuarial Function is a key control function with responsibility for overseeing the calculation of the technical provisions, providing opinions on the underwriting policy and reinsurance arrangements and contributing to the effective implementation of the risk management system. The Actuarial Function also plays an integral role as part of the wider Finance team with responsibility for financial reporting, strategic planning and analysis, supporting the development of customer propositions, and developing the capital management and reinsurance strategies.

Purpose of the Role:
The Head of Regulatory & Reserving reports to the Chief Actuary, and Head of Actuarial Function (HoAF) and forms part of the senior actuarial leadership team. The role has responsibility for supporting the HoAF in ensuring that the company complies with the reserving and regulatory requirements of the Actuarial Function as set out in the Solvency II regulations and the Central Bank of Ireland's Domestic Actuarial Regime (DAR).

Key Accountabilities:
• Oversight and sign-off of calculation and analysis of the technical provisions and capital requirements of on a quarterly basis.
• Build, develop and maintain a strong business control environment with a focus on risk management, particularly regarding data quality, methodology and assumptions for technical provisions.
• Lead the annual process of experience investigations and reviewing actuarial assumptions, by working with the other Actuarial and Finance teams.
• Lead process of engagement (along with Head of Actuarial Reporting, Planning & Analysis) with actuarial peer reviewer and external auditor ensuring the process is managed effectively and actions taken to address recommendations where appropriate.
• Oversight and sign-off of Solvency II regulatory reporting on a quarterly basis.
• Lead the input from the Actuarial Function on issues relating to unit pricing and policyholders' reasonable expectations (PRE)
• Oversee the compliance of the Company with actuarial guidance with respect to policyholder disclosure.
• Support the HoAF in producing all key regulatory reports required under Solvency II and DAR, including the review of actuarial assumptions, the Actuarial Report on Technical Provisions (ARTP) and pricing and reinsurance opinions.
• Maintain knowledge of changing regulatory landscape by incorporating any new guidance from EIOPA, the CBI and the Society of Actuaries in Ireland (SAI) as it arises. Active participation in industry and professional working groups and committees will be encouraged to ensure that the Company is well placed to monitor and react to developments.
• Represent the Actuarial Function on key management committees such as Financial Risks Committee, Technical Forum as required.
• Build strong relationships with key internal stakeholders in Finance, Risk and Commercial functions and external parties such as actuarial peer reviewer and external auditor.
• Lead, develop and motivate a team of trainee and qualified actuaries responsible for reserving and regulatory reporting. Assist the Chief Actuary in building succession plans for the Actuarial Function.

Essential Qualifications:
• Qualified Actuary with relevant post qualification experience

Essential Skills & Experience:
• Extensive knowledge of the regulatory landscape, particularly Solvency II and the Domestic Actuarial Regime
• Financial reporting experience including MCEV, IFRS, local GAAP
• Proven track record in delivery with a demonstrated ability in managing multiple tasks
• Ability to effectively lead, develop and motivate your team to ensure delivery against objectives and maximising potential
• A proven ability to work effectively with, and constructively challenge and influence the actions of stakeholders up to and including senior management level.
• Excellent communication skills (verbal and written)

Please contact [email protected] or 016099404 for further information.

Acumen Resources specialises in the recruitment of the following professionals:
Chief Actuary | Head of Actuarial Function | Actuarial Director | Actuarial Function Holder | CRO | CFO | Actuarial Manager | Valuations Actuary | Product Development Actuary | Pricing & Reserving Actuary | Solvency II Actuary | Life Insurance Actuary | General Insurance Actuary | Non Life Actuary | Pensions Actuary | Investment Actuary | Capital Modelling Actuary | Capital Management Actuary | Risk Management Actuary | Enterprise Risk Management Actuary | Newly & Nearly Qualified Actuary| Part Qualified Actuary | Trainee Actuary| Actuarial Trainee | Student Actuary | Actuarial Graduate | Dublin | Ireland

Tagged as: Life Insurance, Systems

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