Oliver James Associates Dublin are representing a global Re-insurer with a key focus on Motor Insurance, in their focus to appoint a Chief Actuary for their Irish entity.
Oliver James Associates Dublin are representing a global Reinsurer with a key focus on Motor Insurance, in their focus to appoint a Chief Actuary for their Irish entity.
The scope of the Chief Actuary position includes participation in the commercial management of the company and as detailed below responsibility for the preparation and modelling of capital requirements under Solvency II; responsibility for the actuarial reserving and actuarial reporting processes; and robust input into the underwriting pricing process
The Chief Actuary will also oversee the asset liability management modelling, production of claims pay-out patterns and have input into the budgeting, planning, profitability analysis and reinsurance programs; alongside also being responsible for preparing and submitting data to the outsourced function Head of Actuarial Function and have responsible for day to day interaction with this outsourced activity.
Reserving & Reporting
Overseeing the calculation on a quarterly basis of the company's reserves on its Pan European third-party motor liability portfolio. Calculating the Company's Best Estimate reserve position on a quarterly basis and preparing and issuing reports to management supporting this position
Maintenance of necessary and appropriate actuarial models and data to support the calculation of said reserves and provide support to the audit processes
Calculation of the Company's Margin for Uncertainty using actuarial stochastic techniques and combining with the non-stochastic element using input from other departments Preparation of supporting calculations and documentary evidence to support the Company's held Margin for Uncertainty and underlying Risk Margin
Projections of pay-out patterns, loss projections and input to the Company's cash flow and Asset Liability Matching (ALM) models
Having ownership and responsibility for the Company's reserving policy. Ensuring that these obligations are met and reported on. Updating the policy on a regular basis and advising Audit Committee and Board on such changes
Liaising with the company's externally appointed Head of Actuarial Function on the production of the year end actuarial report to the Board
Ensuring reserve movements are communicated to the Finance department on a monthly basis for recording in the company's accounting records
Ensuring appropriate controls and checks are in place on data presented to the Actuarial department. Providing necessary input to data quality standards to ensure actuarial reports are of an appropriately high standard
Risk, Capital & Solvency
Calculating on a quarterly basis the Company's Solvency Capital
Responsibility and ownership of the Company's policy on Technical Provisions
Supporting the Chief Risk Officer in the use and embedding of the model in the Company's operations
Providing actuarial input to allow model to be run on a timely basis
Running of identified Stress tests with the Capital Model.
Support of the ORSA process through running of capital model based on different scenarios
Development of risk-assessment tools and supporting the Chief Risk Officer in the ongoing risk monitoring process
Pricing & Commercial
Actuarial input to quarterly performance reporting
Providing input and assistance to the Underwriting team on an as-needed basis in the following areas;
Individual country or fleet pricing decisions;
Renewal discussions with fronting companies
Reinsurance pricing negotiations
Large claim reviews and reserving
Assistance in assessment on new products and related analysis
Qualified Actuary with several years of solid business experience, preferably within a motor fleet environment
Experience of working on Solvency II capital models
Ability to communicate and operate at a senior level within an organisation
Proven personality to work within a small, dynamic and developing company
For more information, please send your details to the below contact information.