Actuary

Job Title: Actuary – Key Function Holder
Location: Luxembourg
Company: International Insurer

Overview:

We are seeking an experienced and highly skilled Actuary – Key Function Holder to join our Luxembourg office. In this critical role, you will act as the company's appointed actuarial function holder, ensuring compliance with Solvency II regulations and contributing to the overall financial and risk management strategy of the business. The ideal candidate will have significant actuarial experience within the insurance or reinsurance sector, a deep understanding of regulatory requirements, and strong analytical and communication skills.

Key Responsibilities:

• Actuarial Key Function Holder: Serve as the appointed actuarial function holder under Solvency II regulations, ensuring compliance with all relevant local and international regulations and standards.
• Actuarial Valuations: Oversee the calculation of technical provisions, including best estimate liabilities and risk margins, ensuring the adequacy, accuracy, and robustness of all actuarial valuations.
• Solvency II Compliance: Ensure the company complies with Solvency II requirements, including the preparation and submission of the Solvency and Financial Condition Report (SFCR) and the Regular Supervisory Report (RSR).
• Risk Management Support: Collaborate with the Risk Management team to assess and manage underwriting, market, and operational risks, and contribute to the development of the company’s Own Risk and Solvency Assessment (ORSA).
• Reserve Adequacy Reviews: Perform and oversee regular reserve adequacy reviews and ensure that all reserving practices are in line with regulatory and accounting standards.
• Data Analysis and Reporting: Provide actuarial analysis and reporting to senior management, the Board, and regulatory authorities, ensuring clarity and transparency in all communications.
• Pricing and Product Development: Support underwriting and product development teams with actuarial pricing models and profitability analysis for existing and new products.
• Capital Modeling: Oversee capital modeling processes and ensure that the company maintains adequate capital to meet its risk profile and regulatory requirements.
• Board and Regulatory Interaction: Present actuarial findings, reports, and recommendations to the Board of Directors and regulatory bodies, acting as the key liaison on actuarial matters.
• Team Leadership and Development: Lead and mentor the actuarial team, fostering a culture of professional development and continuous improvement.

Qualifications:

• Experience: 7+ years of actuarial experience within the insurance or reinsurance sector, with significant experience in a similar role involving Solvency II and actuarial key function responsibilities.
• Professional Certification: Fully qualified actuary (e.g., FIA, ASA, FSA, DAV, or equivalent).
• Regulatory Knowledge: Strong understanding of Solvency II regulations, technical provisions, capital requirements, and risk management frameworks.
• Analytical Skills: Excellent analytical and problem-solving skills with the ability to interpret complex data and provide clear insights to senior management and regulatory bodies.
• Communication Skills: Strong written and verbal communication skills, capable of effectively presenting technical actuarial concepts to non-technical stakeholders.
• Languages: Fluency in English is required; knowledge of French, German, or Luxembourgish is an asset.
• Education: Bachelor’s or Master’s degree in actuarial science, mathematics, statistics, or a related field.
• Technology Proficiency: Proficiency in actuarial modeling software (e.g., Prophet, MoSes) and advanced Excel skills.

Reporting Line:

• Reports to the Chief Risk Officer (CRO) and the Board of Directors.

What We Offer:

• A senior leadership role in a leading international insurance company.
• The opportunity to shape and influence the company’s actuarial strategy.
• Competitive salary and benefits package.
• A collaborative and multicultural work environment.

If you are a qualified actuary with a proven track record in the insurance industry and a deep understanding of Solvency II, we invite you to apply for this key position in Luxembourg.