The Head of Actuarial Function will lead the actuarial function in Ireland. It is a mandatory Pre-approved Control Function (PCF) role, with responsibility for overseeing the calculation and adequacy of technical provisions and providing independent advice to the Board on actuarial matters, but also underwriting, reinsurance and risk management.

Relevant actuarial qualification (e.g. Fellow of the Society of Actuaries (Ireland) or the Institute and Faculty of Actuaries (UK)).
10+ years of actuarial experience in (re)insurance industry.
Experience working in a regulated organisation.
Strong knowledge of Solvency II regulations.
Proficiency with actuarial software and modelling techniques.
Excellent communication and interpersonal skills, including Board presentation experience.
Strong analytical and decision-making abilities.
High attention to detail with the ability to manage multiple priorities.
Ability to work collaboratively in a fast-paced, team-oriented environment.
Must be legally authorised to work in Ireland.
Must be able to work out of the Dublin office. A minimum of three days in the office is required.

To provide strategic and cultural leadership of the Actuarial Function

Ensure that team vision, plans and objectives are restated annually and align with the RiverStone vision and support delivery of corporate objectives;
Establish, foster and demonstrate a culture of accountability, delivery and performance aligned to the RiverStone vision and cultural identity;
Communicate effectively with teams and across all business areas;
Responsible for the strategic oversight of key third party relationships engaged in by the department and to ensure that these deliver effective services at the appropriate cost; and
Responsible for the ownership of all risks to the business emanating from the Actuarial Function and to communicate, manage and mitigate these in conjunction with RiverStone Risk Management.

To perform the role of Actuarial Function Holder as per regulatory requirements

Coordinate the calculation of technical provisions;
Ensure the appropriateness of the methodologies and underlying models used as well as the assumptions made in the calculation of technical provisions;
Assess the sufficiency and quality of the data used in the calculation of technical provisions;
Compare best estimates against experience;
Inform the administrative, management or supervisory body of the reliability and adequacy of the calculation of technical provisions;
Oversee the calculation of technical provisions in the cases set out in Article 82 (Solvency II);
Express an opinion on the technical provisions on an annual basis (AOTP);
Produce an Actuarial Report on Technical Provision (ARTP) on an annual basis;
Express an opinion on the overall underwriting policy (as appropriate);
Express an opinion on the adequacy of reinsurance arrangements (as appropriate);
Express an opinion in respect of each ORSA process; and
Contribute to the effective implementation of the risk-management system.

To advise Exco and the Board, and all other appropriate committees, on all actuarial matters in which they are involved

Input into Board education sessions e.g. capital modelling, Solvency II;
Input into the discussion of actuarial recommendations of reserve reviews at Exco and the Board; and
Report into Board at quarterly meetings and more frequently, when so necessitated or required by the Board.

To ensure that suitable actuarial techniques are applied with a view to recommending reserving levels to the Board, both by sections of the business and as a whole, which are within reasonable ranges of probable outcomes

Regular contact with Claims team to understand material claim movements arising each month and quarter;
Ensuring that claim movements are adequately reflected in the reserves;
Ensuring that reserving techniques used remain up-to-date and relevant to RiverStone’s business;
Ensuring Exco and the Board are correctly informed of actuarial reserve recommendations and that any actuarial reserve analysis is correctly interpreted; and
Ensuring Exco and the Boards have a good understanding of reserve ranges and actuarial techniques for deriving reserve ranges.

To ensure there are appropriate written policies, procedures and governance in place relating to actuarial processes

Ensure that actuarial processes remain fit for purpose and are aligned with Board requirements;
Ensure that actuarial processes form part of the overall System of Governance; and
Ensure actuarial processes are appropriately documented.

To provide actuarial input to the production of any Own Risk and Solvency Assessments (“ORSA”)

Including for potential acquisitions, as directed.

To have overall responsibility for all actuarial projects

Ensure appropriate completion of all actuarial projects within relevant timeframes and in accordance with relevant requirements;
Liaise with regulators, consultant/auditors on actuarial matters, as appropriate;
Monitor and develop existing and new actuarial models; and
Ensure that the data that is used for modelling purposes is appropriate.

To provide support in connection with specific transactions such as acquisitions

Input into the assessment of the adequacy of reserves, capital requirements and other actuarial matters for acquisition opportunities, as required.

We believe in taking care of our team and helping our employees thrive both professionally and personally.
Our benefits include:

Private Medical cover – Comprehensive Private Medical Insurance scheme
Health and Wellness –including access to our Employee Assistance Programme, Headspace subscription, up to five funded counselling sessions per year, annual health check-up and eye test voucher
Wellbeing Allowance – Can be used towards either physical or mental health wellbeing activities
25 days’ holiday per year – plus bank holidays and office closure on Christmas Eve
Bonus scheme – dependent on achieving individual, department and company goals
Pension – a Group Personal pension plan
Life Assurance – provides a lump sum 4 x your salary
Permanent Health Insurance Scheme – scheme pays benefits during a prolonged period of illness or disability lasting more than 26 weeks
Parental Leave – Enhanced Maternity, Paternity and Shared Parental Leave policy
Training and development – Company funding for professional qualifications that would be beneficial for your role
Volunteering and charity – triple matching donations made independently or via our Give As You Earn scheme, Give A and two paid volunteering days per year to help give back to our local communities
Travel Insurance – business and personal travel
Sports and Social – active sports and social committee that organizes subsidised events

Working hours
Our standard working hours are from 09.00 a.m. to 5.30 p.m. Full time employees are to be in the office for
3 days per week, with 2 days working from home.

Head of Actuarial - Ireland

Benefits

Job Description