The Risk Review Actuary collaborates with the Chief Risk Officer, the Risk Management team, and central functions to enhance the branch’s Actuarial and Enterprise Risk Management capabilities, maintaining an appropriate balance between risk and business considerations.
They also contribute to the preparation of regulatory reports required by local financial authorities, supporting the branch’s operations as a Third Country Branch following recent regulatory changes.
About the Role:
The Risk Review Actuary collaborates with senior leaders, the Risk Management team, and central departments to enhance the organization’s Actuarial Risk Management practices, striking an effective balance between managing risk and supporting business goals.
The role also involves contributing to the preparation of regulatory reports required by oversight bodies, reflecting the organization’s compliance obligations as a Third Country Branch in the post-Brexit regulatory landscape.
You will be focusing on life-related business lines, such as protection, longevity, health, and structured reinsurance.
Key Responsibilities
Actuarial Risk Management
*Evaluate significant and complex transactions for risks spanning financial, operational, legal, and reputational dimensions, ensuring alignment with the organization’s risk appetite.
*Assess updates to pricing frameworks, product features, and pricing tools.
*Work closely with other risk management teams on collaborative projects and reviews.
Enterprise Risk Management
*Prepare and deliver risk reports to senior stakeholders, including executive committees and central departments.
*Support governance activities within the organization’s operations.
*Develop and manage the operational risk management framework.
*Evaluate and oversee diverse risk categories, including market, credit, reputation, concentration, and liquidity risks.
*Track and report on the performance of the non-life run-off business portfolio.
General Risk Management
*Collaborate with business teams to ensure sustainable and profitable operations, aligning innovation initiatives with strategic goals and risk appetite.
*Advocate for sound risk management principles, contribute to the organization’s risk strategy, and foster a culture of risk awareness.
*Refine and enhance risk management frameworks, policies, and processes.
*Define and manage risk appetite, including setting product limits and balancing commercial and risk priorities.
*Represent risk management in key business initiatives, such as product innovation and operational enhancements.
*Act as a trusted advisor for risk guidelines and control mechanisms.
Key Skills & Experience
Essential:
Candidates should demonstrate foundational knowledge and experience in the following areas:
*Actuarial risk management practices.
*Life pricing, particularly in areas such as protection, longevity, and structuring reinsurance solutions.
*The ability to confidently and diplomatically challenge ideas while offering constructive feedback.
*Effective engagement and communication with senior stakeholders.
*Developing an understanding of both internal and external client needs and strategies.
*Enterprise risk management principles, frameworks, and methodologies.
*Successfully managing and delivering projects within set timelines.
Desirable:
*Significant experience within the insurance industry, ideally in reinsurance, risk management, pricing, or consulting roles.
*In-depth knowledge of key products and market dynamics within the protection or longevity sectors.
*Familiarity with a broad spectrum of reinsurance structuring solutions.
Qualifications and Educational Background
Essential:
*A degree or equivalent academic qualification.
*Actuarial qualification (fully qualified).