Description
The resident Actuary has primary responsibility to lead and support the actuarial functions for Family Guardian Insurance Company's life and health insurance portfolios.
The position requires a Fellow of the Society of Actuaries (FSA) or equivalent designation, with deep technical expertise in life and health insurance and a strong understanding of current regulatory, actuarial standards, and International Financial Reporting Standard 17 (IFRS 17).
The position will play a critical role in ensuring the soundness of the company's actuarial valuations, financial reporting, product development, and risk management practices. It involves close collaboration with the Appointed Actuary, executive leadership, and cross-functional teams, while also supervising and mentoring actuarial staff.
Key Responsibilities:
- Coordinate and review the valuation of policy reserves for the life and health products in accordance with applicable actuarial standards and IFRS 17 requirements.
- Lead the actuarial functions for both life and health insurance portfolios, including the monitoring of these portfolios to ensure profitability and sustainability.
- Oversee the preparation and regulatory filing of key regulatory reports
- Conduct profitability analyses to inform pricing, product design, and capital management strategies.
- Coordinate and review regular experience studies (mortality, lapse, expense, etc) to refine valuation and pricing assumptions.
- Collaborate closely with the Appointed Actuary to ensure all actuarial responsibilities are carried out in accordance with regulatory and company standards.
Requirements
- Fellow of the Society of Actuaries (FSA) or equivalent recognized actuarial body.
- Minimum 10 years of progressive actuarial experience, with at least 5 years in a senior leadership or supervisory role.
- Deep understanding and application of IFRS 17 and other international financial reporting standards.
- Proficiency in Moody's AXIS actuarial modeling software and Risk Integrity IFRS 17 software, data analytics, and valuation tools.
- Familiarity with local solvency and capital adequacy frameworks.
