Acturial Analyst Solvency II

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Job Description

Acturial Solvency II Analyst

Quarterly/Annual Solvency 2 Reporting 

  • Generate and check the model points; 
  • Update the assumptions feeding into the Prophet model and include reasonability checks on assumptions. 
  • Run the quarterly BEL calculation in prophet; 
  • Complete all outside prophet calculations for overall SCR including Health CAT, counterparty default, etc; 
  • Perform reasonability checks on results; 
  • Deliver calculation on time through reporting channels (Vega and BFC); 
  • Carry out Analysis of Change on BEL and SCR calculation; 
  • Calculate Risk margin and LACDT; 
  • Perform Sensitivity runs twice yearly; 

     Provide commentaries on results as required by Management, Risk Management Function, other stakeholders. 

     Solvency II qualitative reporting templates (QRTs):  

  • Gather relevant information for quarterly and annual QRTs; 
  • Deliver QRTs on time through reporting channels (Vega and BFC). 

Budget: 

  • Review inputs from counterparties (future expected premiums/number of contracts); 
  • Produce Budget Results in Prophet; 
  • Deliver calculation on time through reporting channels (Vega and BFC); 
  • Review results first independently, then with Reserving Team; 
  • Contribute to commentaries and presentation of results.

ORSA: 

  • Use budget information provided to calculate prospective SCR in prophet for ORSA for Central Scenario; 
  • Amend Prophet tables and model points, as required, to run ORSA stress scenarios; 
  • Complete all outside prophet calculations for completion of overall SCR in Vega; 
  • Perform reasonability checks and other analysis on results; 
  • Deliver calculation on time through reporting channels (Vega and BFC); 
  • Participate in writing ORSA reports and presentations. 

New Business Point of Sale: 

  • Generate and check the model points for new business point of sale. 
  • Update the assumptions feeding into the Prophet model and include reasonability checks on assumptions. 
  • Run the annual New Business Point of Sale calculation in prophet. 
  • Perform reasonability checks on results. 
  • Carry out Analysis of Change on New Business Point of Sale. 
  • Provide quarterly estimates for New Business Point of Sale to Group taking into account assumption updates    throughout the year. 

Annual Studies 

  • Persistency experience study (Lapse/surrender rates review); 
  • Model point aggregation study; 
  • Roll forward analysis; 
  • Reinsurance studies; 
  • Risk Margin study; 
  • Ad Hoc studies performed during the year for actuarial department (capital optimization initiatives, other); 
  • Participate to annual update of the Reserving policy document (all demographic and expense assumptions). 

General 

  • Attending Technical meetings led by group and reporting back outcome of meetings; 
  • Keep up to date model documentation, procedures and processes on work performed; 
  • Answer questions and provide information to audit and external reviewers, including Actuarial Function Holder ad   Central Bank of Ireland. 

Internal relations 

  • With Actuarial Pricing Team, Actuarial Reserving Team, IT team, and with Administration & Operations, Project, Claim and Finance Departments, and Business Development Departments

External relations 

  • Group functions, external auditors, internal auditors. 

Experience and qualification: 

  • Actuarial qualification 
  • Minimum of 2-3 years professional experience; 
  • Experience in Creditor Insurance business; 
  • Experience in Solvency II reporting; 
  • Prophet and SAS expertise is necessary for this role; 
  • Experience working with Microsoft packages, particularly Excel, a necessity; 
  • Experience in Database Management an advantage; 

 

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