Reporting Actuary

Job Title: Reporting Actuary

Role Type: Permanent, full-time

Position Reports to: Senior Manager

Department: Actuarial Function

Location: AGL Head Office, Maple House, Temple Road, Blackrock, Co. Dublin.

Background:

Allianz Global Life dac ("AGL") is a rapidly growing cross-border life insurer with products sold into the French, Italian and German markets, and, more recently Greek and Lithuanian markets. It also reinsures a portfolio of variable annuities sold in Taiwan and Japan. Its goal is to expand into other markets over the coming years, while also continuing to expand its product range. It currently writes unit linked, variable annuity and protection business.

Main Purpose of Job:

The Actuarial Function of Allianz Global Life dac ("AGL") services both AGL and Allianz Darta Savings Life Assurance ("Darta"). AGL is a cross-border life insurer with products sold into the French, Italian, German, and, more recently Greek and Lithuanian markets. It also reinsures a portfolio of variable annuities sold in Japan, Taiwan and the Philippines. It currently writes unit linked, variable annuity and protection business. Darta underwrites a large book of unit-linked business in Italy and is co-located with AGL.

The position holder reports to the Senior Manager AGL Actuarial Reporting and plays a key role in providing AGL with quantitative actuarial reporting services. Work spans all Solvency II and IFRS17 (profit) actuarial reporting as well as supporting various projects as they arise.  

Responsibilities will include some or all of the following:

• Relationship management and oversight of workflow assignment to outsourced Actuarial provider the Allianz Services Centre Bucharest;
• Oversight of Actuarial interaction with the Product Development team, ensuring new product proposals are reviewed and implemented appropriately within the actuarial reporting framework;
• Managing the production  and validation of results used in Solvency II and IFRS17 actuarial reporting;
• Interaction with finance related executive management including HoAF, CFO, CRO, HoPD etc;
• Producing Regulatory and Group Reporting (ARTP, IFRS17, SFCR, RSR, MVBS);
• Production of reports/presentations explaining the change in reserves over the month/quarter;
• Support annual assumption setting exercise and the preparation of corresponding reports;
• Support the annual review of the appropriateness of reinsurance arrangements;
• Support the production of the annual Actuarial Function Report and IFRS Reporting Actuary's Report;
• Support the annual assessment of the underwriting policy and associated processes;
• Co-ordination of the model change and reserve committee;
• Preparation of actuarial material and slides for Management and Board Committee meetings;
• Provide actuarial support on various project initiatives (e.g. IFRS 17 evolution, Own Funds movement analysis, new products etc);
• Operation of adequate controls and procedures in line with Allianz governance frameworks;
• Indirect management of more junior staff including actuarial students.

This job description shall not limit the duties which may be assigned to this role. The successful candidate shall be required to perform on a temporary or permanent basis such additional or different duties that the Company may reasonably assign to them from time-to-time.

Key Performance Measures:

1. Accuracy and attention to detail: The work undertaken is technical and requires calculations and workings to be conducted within a controlled environment. Communication of results requires accuracy,  attention to detail and importantly tailoring work to the needs of the recipient. A primary measure of performance is how the individual delivers on these requirements.  The position holder is expected to display the skills of questioning, spotting errors and explaining results - taking ownership of the quality of delivery.
2. Productivity:  (i) Proactively seek to increase own level of output and team contribution  (ii) Meet delivery times while maintaining accuracy (iii) Share workload evenly with other team members - particularly at busy times.
3. Agile Approach: Tasks and requirements are varied and likely to evolve in line with business needs – the position holder is expected to be solution orientated and to work closely with colleagues to drive incremental progress.
4. Personal Development: Display ongoing development working with managers an internal programs but also take ownership of your own development. Build a respected personal profile within the company.

Key Customers:

Internal - Senior Manager Unit Linked & Protection Reporting, wider Actuarial Team, Risk Team and AGL relevant personnel.

Business Competencies:

Education  & qualifications

• Qualified Actuary

Professional Competence

• Life insurance experience
• Actuarial modelling experience
• Reporting experience
• Assumption setting experience

Commercial Awareness

• An understanding of industry best practices towards various Actuarial techniques

Personal Competencies:

Organisation

• Strong organisational skills required with ability to work on own initiative.

Flexibility

• Flexible and adaptive to changing requirements.

Communication

• Excellent communication skills and attention to detail required.

Stakeholder Management

• Ability to build strong relationships with key stakeholders.

80301 | Actuarial | Professional | n.a. | Allianz Global Life | Full-Time | Permanent