At M&G our vision is: to become the best loved and most successful savings and investment business and we’re looking for people who are excited about joining us on our journey. We’re digitally transforming and investing heavily in technology and innovation to develop new and improved customer propositions that really raise the bar for our customers. To help us achieve our vision we’re looking for exceptional people who live our values and behaviours and who can inspire others; embrace change; deliver results and keep it simple.
What you can expect from us:
We are committed to creating an environment where you can be exceptional at all you do. To help us deliver this, we promise to:
- Challenge Your Limits by creating a stimulating working environment and providing opportunities for you to be involved in meaningful and challenging work
- Support Your Aspirations with a commitment to learning and development that helps you achieve and build your experience with people who want you to succeed
- Value Your Input whereby leaders and managers will involve you in key decisions, listen to your thoughts and recognise the important contribution you make
- Balance Your Life through a work life partnership that focuses on making this an inclusive, diverse and friendly place to work and offers the flexibility and support that enables everyone to be at their best
A great opportunity to join the Risk function of a life insurance company as an Actuarial Risk Analyst. You will become a member of the second line Risk team in a successful cross-border insurance firm, which is part of a global insurance group with strong growth ambitions in continental Europe. The business is also rapidly transforming and digitalising so as to lead the way in helping customers achieve their long-term financial goals.
The Risk team in PIA is a small team, working flexibly on a broad range of activities and strategic projects. We are responsible for the oversight of all risks taken by the business, both financial and operational in nature, providing advice and challenge to the business on all material decisions (including key transformation programmes and strategic growth initiatives) and for monitoring and reporting the company’s risk exposure. The Risk team is split between Dublin and Poland where PIA has a branch.
Key Work Level Accountabilities:
- Accountable for delivering a quality service and product to customers and stakeholders
- Focuses on quality of delivery to achieve clear outputs within guidelines and precedent
- Adapts to change, responds with initiative and make suggestions for improvements to own work and processes
Key Responsibilities for this role:
The Actuarial Risk Analyst will be a member of the PIA Risk Management Team and will support the Financial Risk Manager in performing the following main activities:
- Development and maintenance of the financial & insurance risk management, monitoring & reporting framework, covering all Group & regulatory (insurance or capital market related) requirements
- Setting of the Risk Appetite Statement (RAS) in respect of solvency, liquidity as well as market, credit and insurance risks and for the ongoing monitoring and reporting in respect of those technical risks
- Support model validation activities including ORSA models, Liquidity Stress Testing Models, Internal Model Validation, among others.
- Assist the Financial Risk Manager in the formulation, calibration, production and analysis of Own Risk Self-Assessment projections and stress testing scenarios and sensitivities
- Support the oversight and analysis of the capital numbers productions on a Solvency II basis (Standard Formula)
- Support the Financial Risk Manager in the technical risk assessment of business plans and business initiatives
- Participate in the development and calibration of quantitative risk indicators with emphasis on insurance, liquidity, credit and capital risks
- Participate in the risk assessment of new products with emphasis on technical/insurance risks
- Participate in the identification and assessment of top and emerging risks that could impact on the financial and insurance risk profile of the business
- Support the team on specific deep-dives and/ or risk opinions;
- Support the Financial Risk Manager in the production and preparation of papers and reports to be submitted to the, Senior Management Team (SMT), Risk and Compliance Risk Committee and other governance forums and regulators.
- Support the participation of the Financial Risk Manager in the PIA Technical Committee.
Key Knowledge, Skills & Experience:
- Strong communication skills, both oral and written
- Highly organised and motivated individual, with focus on accuracy and strong attention to detail
- Ability to work under pressure and meet tight deadlines
- Excellent computer skills
- Motivated and keen to work and learn in a fast-paced environment
- Seeking or currently working towards an Actuarial qualification
- Good knowledge of the European (and Irish) life insurance industry and regulatory environment
- Experience of working on Solvency II reporting and/ or in a Risk function would be a plus
- Experience working in the life insurance or other financial industry would be a plus
Work Level: Colleague
Recruiter Name: Phoebe Ewers
Closing Date: 5th March 2021
We live by four behaviours at M&G and we ask all our employees to:
- Inspire Others - Support and encourage each other, creating an environment where everyone can contribute and succeed
- Embrace Change - Be open to change, willing to be challenged and able to adapt quickly and imaginatively to new ideas
- Deliver Results - Focus on outcomes, set high standards and deliver with energy and determination
- Keep it Simple - Cut through complexity and bureaucracy, be clear and decisive and never overcomplicate things