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Our client is an international general insurance company whose main business lies in the provision of a range of general insurance products including auto insurance, home insurance, liability and commercial property insurance. They are currently seeking a Chief Actuary to establish and manage their actuarial function. This position is a senior level role reporting into the Group CEO. The role will entail substantial Board level interaction and it is envisaged that the successful candidate will take up a position on the Board of Directors.

Responsibilities

Reserving

• Regular reserve reviews on the adequacy of the booked reserves both gross and net of reinsurance. This will involve projection of paid and incurred claims to derive an estimate of outstanding claims to include Incurred But Not Reported (IBNR) and Incurred But Not Enough Reserved (IBNER)
• Can certify the reserves if the resource has an appropriate signing certificate
• Monitoring of reserve development, comparing actual with expected – analysis and communication of reasons for divergence
• Estimation and communication of reserve uncertainty
• Communication of key assumptions within the estimate and also the drivers of the risk
• Link with Pricing – reconcile views of claims experience and assumed trends
• Ongoing formal and informal relationship with: Claims department, underwriting, pricing and senior management

Pricing

• Derivation of "technical" price by line of business – essentially the premium required to deliver the expected level of profitability
• Analysis and derivation of the rating factors – standard practice would be for a Generalised Linear Model (GLM) analysis
• Ongoing performance measurement – historic and prospective and communication of results
• Communication of assumptions and risk drivers
• Link with reserving – reconcile views of claims experience and assumed trends
• Production of new rate structures
• Recommendations of premium changes/rating structure changes
• Analysis of new business opportunities
• Ongoing formal and informal relationship with: Claims department, underwriting, reserving and senior management

Requirements

• Qualified Actuary (FIA, FSA or equivalent)
• Bachelors degree in mathematics, statistics, economics, or finance as well as experience in general insurance
• Ability to work effectively across various disciplines (Pricing, Valuation, Distribution, and Operations)
• Requires in-depth knowledge of actuarial concepts and methods regarding rate and reserve analyses. Must be able to develop studies and recommend changes based on such knowledge
• Requires the ability to work with little to no supervision and have the ability and initiative to develop rate, product and reserve strategies independently
• Strong understanding of financial reporting
• Strong understanding of income statements and balance sheets
• In-depth knowledge of regulatory environment and compliance issues
• Experience with financial modelling and forecasting
• Must have ability to effectively compose and deliver presentations to senior management and Board of Directors
• Strong leadership capabilities applied within team settings and with individual contributors
• Ability to manage the work of others to achieve results under tight deadlines

Salary: Negotiable + Bonus + Benefits

If you would like to apply for this role or find out more, please apply online or contact John Mullally at Robert Walters on +353 (0)1 633 4111 quoting the job reference 1183231