Risk Manager

Permanent Ref No: 1573109 Qualification: Qualified, Qualified

Main Activities

Manage and motivate a team of 1-2 Risk Analysts by setting clear objectives, performing regular reviews, providing constructive feedback, and ensuring their positive contribution to the performance of the Risk Management team.
Collaborate daily on inter-connected topics with other risk sub-teams, i.e., the Capital, Financial, Operational and Enterprise Risk Management teams.
Engage closely with the Actuarial function as second line oversight of the activities being performed by the first line. This includes the official Solvency II SCR calculations, local regulatory submissions to the CBI via Pillar III QRTs and internal model structured templates, balance sheet stresses for the ORSA and other ad-hoc topics.
Provide effective challenge via second line reviews of best estimate assumption updates and changes to the valuation model.
Provide effective contribution to the RSR, SFCR, P&L Attribution Report and other Company returns.
Support the planning and coordination of the ORSA process, including the Board ORSA workshop, selection of scenarios and preparation of the ORSA report.
Contribute to the Capital Management Plan process and determine the Company’s target level of capital and risk appetite limit.
Perform ongoing solvency monitoring and engage in regular communication to senior management on the Company’s solvency position.
Monitor Solvency II internal model regulations pertaining to the Risk Management team, ensuring Company compliance. Keep abreast of EU and Irish regulatory developments as they arise.
Coordinate the internal model validation process from a life risk perspective to ensure that the model remains appropriate.
Perform local calibration studies to ensure that the internal model appropriately captures the Company’s risk profile and capital requirements.
Review the effectiveness and appropriateness of the Company’s existing reinsurance arrangements from a life risk perspective, particularly longevity risk, and engage with external reinsurers to ensure that the company remains adequately covered.
Engage with internal audit, external audit, the Group Internal Model Review team, and the CBI on relevant topics as required.
Assist the Capital/Financial Risk Management and Investment teams on the capital impact and appropriateness of the Strategic Asset Allocation.
Prepare reports and key management information, on all the above activities, for the Assumptions, Model Change and Solvency II Committee, Executive Committee, Board, Board Risk and Audit Committees.

Skills and Experience

Qualified actuary with at least 5+ years’ experience in the life industry.
Experience of managing and mentoring direct reports.
Ability to understand and interpret the output of sophisticated cash flow modelling systems and reporting tools.
Knowledge of mortality/longevity risk and the associated implications for variable annuity or similar retirement products.
Knowledge of Solvency II regulatory requirements and the Solvency II balance sheet.
Knowledge of the Solvency II capital calculation, i.e., the Solvency Capital Requirement. Experience working with an internal model would be an advantage.
Technical concepts (not specific to life risks) such as stochastic modelling, economic scenario generators and polynomial regression are widely used. Experience of such concepts would be an advantage.

For further details, please contact [email protected] or +35316099404.

Tagged as: Life Insurance, Risk

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