Actuarial Manager

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Company

RCI INSURANCE LTD

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Job DescriptionAbout us RCI Insurance Ltd and RCI Life Ltd aim to provide insurance solutions to customers of Mobilize Financial Services’ (within Renault Group) automobile financing business and are authorised by the Malta Financial Services Authority to conduct the business of insurance.

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.

🔍What will you do? Inventory work and technical monitoring of the Companies’ portfolios:

• 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.

Product development and pricing

• 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.

Solvency II

• 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.

IFRS 17

• 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

Data & Reporting

• 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.

Supervisory / Operational Management – Actuarial team

• 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.

🎓Who are we looking for?

• 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.

🤝Why join RCI Insurance?

• Be part of an international Group
• Nice and friendly working environment
• Multicultural environment (18 different nationalities in Malta)
• Hybrid working conditions
• Free parking during working days
• Heath & Dental Insurance for you and your family
• Access to an online training platform to develop your professional skills
• Social Committee

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Job Family

Sales Financing

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