Chief Actuary

2. Capital management and solvency

• Contribute to the calculation of SCR, MCR and regulatory capital.
• Participate in ORSA exercises.
• Assess the actuarial impacts of regulatory changes.
• Contribute to the definition of risk appetite.

3. Model governance

• Oversee assumptions and calculation methods.
• Ensure the robustness of actuarial models.
• Implement data quality controls.
• Guarantee the documentation and traceability of calculations.

4. Strategic Consulting

• Advise the General Management on technical risks.
• Provide forward-looking profitability and solvency analyses.
• Participate in external growth operations, partnerships or restructuring.
• Make recommendations on capital optimization.

Actuarial Key Function (Solvency II)

As the holder of the Actuarial Key Function, the Chief Actuary is responsible for:

Coordination of the calculation of technical provisions

• Ensure the use of appropriate methods, models and assumptions.
• Assess the sufficiency and quality of the data used.
• Assess the uncertainty inherent in the estimates.

Opinion on Underwriting Policy

• To issue an independent opinion on the coherence between the underwriting policy and the risk profile.
• Assess the adequacy of pricing processes.

Opinion on the Reinsurance Program

• To review the adequacy and effectiveness of the reinsurance program.
• Assess the impact of reinsurance on solvency and risk profile.

Contribution to the risk management system

• Participate in the identification, measurement and monitoring of actuarial risks.
• Contribute to ORSA work.
• Collaborate with other key functions (Risk Management, Compliance, Internal Audit).

Regulatory reporting

• Produce the annual report of the Actuarial Key Function.
• Present findings to governance bodies.
• Interact with the regulator MFSA and the statutory auditors.

Management and leadership

• Supervise the actuarial, modelling and provisioning teams.
• Develop the technical skills of the team.
• Promote a culture of risk and data quality.
• Ensure coordination with the Finance, Risks, Underwriting and Reinsurance departments.

🎓Who are we looking for?

Education

• Recognized actuary degree (Institute of Actuaries or equivalent).
• Advanced degree in mathematics, statistics, quantitative finance or insurance.

Experience

• Minimum 10 to 15 years of experience in actuarial science for life, non-life or reinsurance.
• Significant experience in a Solvency II environment.
• Experience in managing technical teams.
• Experience in exercising or supervising a key actuarial function is appreciated.

Technical skills

• Actuarial provisioning.
• Pricing and modeling.
• Solvency II.
• ORSA.
• Reassurance.
• Economic capital.
• IFRS 17.
• Data analysis and statistical modeling.

Behavioural Competencies

• Leadership and influence.
• Ability to challenge decisions.
• Excellent analytical and synthesis skills.
• Communication with governing bodies.
• Independence of judgment.
• Rigor and professional ethics.
• Fluent English,
• French appreciated

🤝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

Job Family

Sales Financing

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