Actuarial Manager

The company offers a comprehensive range of financing and related services for car customers of Renault Group. Backed by an international network, the company has established itself in Malta to deliver and service a portfolio of protection insurance products in a number of European Countries.

In order to strengthen its existing team, the Company is seeking a ‘Actuarial Manager’ who will report functionally to the Chief Financial Officer/Chief Actuary.

• Reserving:
  • Produce / Validate all the actuarial inputs and cash flow projections allowing provision calculations for the monthly closures under IFRS17 and Solvency II.
  • Lead necessary analysis to control the adequacy of levels of the technical provisions.
• Technical monitoring of the portfolios:
  • Define indicators and technical analysis which are to be produced periodically and included in the monthly reporting.
  • Produce detailed profitability and/or risk studies when required.
  • Alert in case of unfavorable technical evolutions and propose corrective actions to be taken.
• Budget/Forecast:
  • Provide/Validate the technical assumptions and parameters to be considered in budget forecasts. to ensure overall consistency in results produced.
  • Provide cash flow projections for the budgetary exercises. 
  • Contribute to forecast model development and maintenance.
• Asset Liability Management
  • Provide the ALM studies in order to optimize the investment policy and provide a better management of the financial risks.

• Conducting to actuarial product studies (tariff studies) on the insurance programs insured and/or reinsured by the Companies, based on designed parameters.
• Propose modifications on insurance products and programs of the Companies when an opportunity or an obligation is identified.

• Perform/Validate the calculation of the « Best Estimate » of the technical provisions and the calibration of the underlying technical assumptions.
• Conducting capital requirement and solvency ratio calculations.
• Provide all the risk scenario simulations for the ORSA report and contribute to draft it.
• Conducting the production of the annual ORSA report.

• Lead the operational to the performance of monthly closure reporting package by using the internal cash-flows tools (CFs for LRC and LIC), DWH (Actuals) and RiskIntegrity tool (Insurance liabilities, CSM, P&L, BS, etc.)
• Participate to the impact’s studies.
• Conducting the reconciliation & operational controls of all IFRS17 data flows

• Ensure the “data quality” of actuarial and technical data.
• Make propositions to improve the functioning of the Datawarehouse.
• Preparing the breakdowns/explanations of results (IFRS, SII) vs previous periods/budget;
• Providing the inputs for reporting package to regulators, External & Internal audits linked to the actuarial parts, financial disclosures, SFCR and other reporting, etc.

• Share knowledge and expertise (IFRS17, SII, Reporting);
• Strengthen the technical skills development of other members of Finance department.
• Organize a back-up plans on key tasks/processes of Act./Fin dep.
• Be proactive regarding the improvement of efficiency of Financial department processes.
• Contribute to automatization of actuarial tasks, such as “faster” monthly closures, automatic generation of financial disclosures, SFCR and other reporting, etc.

• Bachelor’s or Master degree in Mathematics, Statistics, Actuarial, Econometrics or Physics.
• Min. 6 years of experience within the insurance field.
• Interest in technical insurance activities, such as insurance product pricing, modelling, data management, reporting, etc.
• Advanced skills in MS Office package (with focus on MS Excel – Pivot tables, Data Sorting, Data Validation, Advanced formulas, etc.) is required.
• Basic skills in one of these software(s): “R”/”R-Studio”, “Python”, “Macros/VBA” will be considered as plus.
• Basic Experience with SQL/MySQL ➔ general understanding of relational databases will be considered as plus.

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