• Permanent, Full time
  • DO Recruitment Advisors
  • 15 Nov 18

Chief Actuary/ Risk officer (M/F)

  • Luxembourg
  • Negotiable
  • Full time

This is a combined role overseeing the Risk and Actuarial functions within a highly renowned UK financial services group.

Chief Actuary/Risk Officer (M/F)

The Role
This is a combined role overseeing the Risk and Actuarial functions.
As Chief Actuary, the role holder will be responsible for overseeing the Actuarial Function required by Solvency II and for providing the Board with advice on actuarial matters, primarily relating to risk and capital management.
As Risk Officer the role holder will be responsible for developing and monitoring risk management system and internal control system and for overall risk strategy and risk profile. The role holder will be responsible for conducting Own Risk and Solvency Assessment (ORSA) and co-ordinating its implementation.

Responsabilities for the actuarial function :

  • Responsible for the oversight and coordination of technical provisions, including the selection, and validation of models, and calculation of technical provisions;
  • Oversight of data quality used for financial reporting;
  • Reviewing the adequacy of the underwriting policy and reinsurance arrangements;
  • Advising the Board on actuarial matters including capital adequacy, capital management and management of the with-profits business;
  • Actively liaising with other members of Insurance & Wealth Division and Finance Division to promote the optimum use and adequacy of the Group's resources.

Responsabilities for the risk function :

  • Lead regulatory relationships with respect to the management of risk;
  • Ensuring operations maintain a risk management framework and governance system aligned to the group's risk policies and meeting the expectation of local regulators and enabling the Board and Management to discharge their duties;
  • Assisting the Board with the definition of Risk Appetite statements where required and developing processes to ensure the business is managed optimally within the appetite constraints;
  • Continuously enhancing risk management framework to make it more effective and efficient and proportional to the risks;
  • Proactively developing the risk culture within the group's operations to ensure an appropriate balance between growth, profitability and risk;
  • Implementing risk registers, Key Risk Indicators and risk-sensitive management information; leadership of risk professionals across the firm;
  • Working closely with the other assurance functions to develop a positive working relationship with the regulator;
  • Supporting the production of relevant risk MI including loss event reporting, to ensure the Board is kept appraised of changes in the profile of all risks and in particular any risks which are near or in excess of their appetite.

The candidate profile :

  • Qualified Actuary;
  • Effective business control: breadth of knowledge and experience across the financial service industry; understanding of economic, political and social trends; knowledge and experience of prudential measures; ability to identify, articulate and manage risks to strategy; record of delivering results;
  • Compliance with the regulatory system: high standards of conduct and behaviour, especially with regards to the interests of customers;
  • Openness and cooperation: strong sense of professional ethics and service to the Group and society; willingness to cooperate openly with all stakeholders, including peers, Board members, customers, investors and regulators; ability to communicate succinctly and effectively;
  • Protecting policyholders: paying due regard to the interests of current and potential insurance policyholders; helping ensure that the firm appropriately protects policyholders' insured benefits.

The client :
Our client is a highly renowned UK financial services group.

At the final stages of the recruitment process, some of our clients could ask the successful candidate to provide supporting documentation such as, for example, copies of diplomas or proof of previous jobs, and a standard criminal record check might also be requested.