Overview

Team Leader – Life Centre of Competence

Permanent

Our client is looking to hire a Team Leader in the Life Centre of Competence to join their Munich based office on a Permanent basis.

Ref: 49349

  • Location: Munich
  • Category: Actuarial
  • Type: Permanent

Overview

Key Duties:

  • Responsibility for the ongoing development of the Group’s internal model with respect to Life Non-Market risks and pensions. This requires participation in Group committees for assumption setting, model approval and project management. Furthermore, it requires coordination with and buy-in from the operating entities, as well as clear and consistent communication to external reviewers such as BaFin and other European local regulators
  • Review of special transactions, such as L&H product approvals or complex transactions (e.g. Longevity swaps)
  • Perform analysis that identifies the key risk and value drivers in order to provide other departments that are removed from the details with a clear basis for decision-making. The TL Life CoC must also set out the governance framework to efficiently and effectively manage transaction reviews
  • Responsibility to set out Group limits for insurance risk exposures. This entails translating the Group’s risk objectives and strategies into concrete limits for e.g. longevity
  • Leadership of Life CoC and steering of (sub-)projects, including setting the strategic direction, defining and approving work plans & budgets, drafting/reviewing Board reports, Committee papers and Policies, motivating individuals, resolving ad hoc requests/issues, senior executive level interaction in OEs and Group
  • Development of personnel, including assigning the right person to the right tasks, evaluation and communication of capabilities, strengths and development needs, understanding potential and designing appropriate development programs
  • Translating Group and Department objectives into personal objectives, prioritizing dynamically as necessary, and displaying commitment, results orientation and entrepreneurial behaviour in achieving objectives. Specifically, this relates to promoting good risk acceptance standards, delivering clear & high quality technical analysis, setting management standards that are aligned to Group strategy and taking a transversal perspective on risk issues
  • The definition and maintenance of the modelling framework of life and health biometrical and business risks of the company’s Internal Model and Standard Model
  • The definition of best practices for the stochastic modelling of life business in general in close coordination with AIM and Group Actuarial
  • The development of the modelling framework of the company’s own internal pensions across all risks
  • In the context of the Solvency II project, the coordination of the Internal Model Approval Process for life, health and pension risks

 

Other Skills:

  • Fluent English skills (written and spoken)

Qualifications required:

  • Actuarial designation desired
  • University degree in actuarial, financial economics or other comparable technical degree

Experience required:

  • 5+ years of experience in risk management or actuarial field
  • Excellent understanding of the principles that underpin risk based supervision, such as Basel II, Solvency II, Swiss Solvency Test, or other standards
  • Excellent understanding of different life & health insurance product classes, pricing and product development
  • Excellent knowledge of principle-based valuation such as market consistent embedded value, IFRS, and economic valuation for Life insurance.
  • In-depth knowledge of actuarial techniques, including modelling and assumption setting
  • Proven proficiency in actuarial modelling tool, preferably knowledge in MoSes

Consultant

Hayley Dunbar

Director

T: +44 (0)203 867 9827

Email me

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