Allianz Re Dublin dac, based in Dublin, Ireland is a non-life reinsurance company that utilises in-house expertise to provide reinsurance to companies within the Allianz Group.

JOB PURPOSE/ROLE

The Head of Actuarial Function (PCF-48) at Allianz Re Dublin dac (AZRD) is a pivotal role responsible for fulfilling the actuarial function in accordance with Solvency II regulations, while leading the local reserving team. This role is integral to AZRD and is additionally embedded within the Corporate Actuarial function of Allianz Re, headquartered in Munich, Germany, which has team members across Dublin, Munich, Singapore and Romania. You will report functionally to the Allianz Re Chief Actuary (based in Munich) and locally to the CFO of AZRD, serving as the foremost expert for all actuarial matters related to AZRD. The successful candidate is subject to pre-approval by the Central Bank of Ireland.

Your primary objective is to oversee the calculation and reporting of reserves and actuarial key figures for AZRD to internal and external stakeholders under different reporting standards (Solvency II and IFRS 17), ensuring compliance with these standards as well as with all regulatory, Allianz Group and AZRD requirements. AZRD is a lean organization and, as such, this role very much requires a “hands-on” mentality.

AZRD is working under a flexible working model with the general expectation to have one team office day per week. We are also open to discuss other options if it betters fits the candidate’s personal life situation.

KEY RESPONSIBILITIES

Fulfill the requirements of the Actuarial Function as defined by Solvency II regulations, Article 48 and ensure compliance with any requirements issued by the Central Bank of Ireland for the Head of Actuarial Function, including the requirements under the 'Domestic Actuarial Regime and Related Governance Requirements' and the 'Guidance for (Re)insurance Undertakings on the Head of Actuarial Function role'.
Coordinate the quarterly calculation of the Solvency II Technical Provisions for AZRD and provide an annual Actuarial Opinion on Technical Provisions to the Central Bank of Ireland and AZRD Board of Directors.
Provide an annual Actuarial Report on Technical Provisions and annual opinions relating to underwriting policy, retrocession adequacy and contributions to Risk Management to the AZRD Board of Directors.
Calculate reserves on an IFRS 17 basis for AZRD on a quarterly basis, ensuring compliance with Allianz Group and local requirements and ensure that the financial position under IFRS 17 is well understood.
Oversee the annual review of key actuarial assumptions and identify market trends for non-life business. This includes monitoring and validating reserves advised by certain cedents, such as under large net quota share treaties / capital management reinsurance contracts.
Lead the local actuarial team, fostering development of team members and collaboration across different actuarial teams and different functions within Allianz Re globally.
Provide actuarial insights and advice to the AZRD Executive Management team and Board of Directors on key business, financial, and strategic decisions.
Provide the actuarial inputs for the SFCR, RSR, the Financial Statements and the actuarial QRTs.
Provide quality assurance of reported actuarial figures including compliance with all relevant internal policies, professional standards and regulatory guidelines.
Collaborate with the local Risk Management function and provide support and advice to other Allianz Re locations / subsidiaries.
Support strategic P&C business initiatives, contribute to streamlining reserving and reporting processes and the development of actuarial models in collaboration with other actuarial teams.
The Head of Actuarial Function will be a member of the AZRD Executive Management Committee.
The Head of Actuarial Function will attend and present at the Reserve Committee, Audit Committee and Board meetings, and will attend, and contribute to, the Risk Committee, Underwriting Committee and Financial Reporting and Disclosure Committee meetings.
Support internal and external audits and engage with local regulator, auditors, senior management, and Allianz Group centres and functions.

KEY REQUIREMENTS / SKILLS / EXPERIENCE

Required education:

Qualified Actuary (e.g., SAI, FIA, FSA, DAV, or similar / eligible to equivalence).

Required experience:

Experience in P&C (re)insurance (> 7 years).
Significant experience in reserving a global and multi-line book of non-life business (ideally in a senior actuarial role), with expertise in risk capital modeling, reinsurance, and pricing.
Proven experience in managing international teams and working effectively in an international environment.
Experience with Irish regulatory requirements and engaging with regulators and external auditors.
Experience of presenting to boards and management committees.

Technical skills:

Robust P&C actuarial and financial know-how.
Deep understanding of P&C (re-)insurance products.
Advanced knowledge of financial accounting and reporting standards, particularly Solvency II and IFRS 17.
Robust knowledge of principles and practices in other relevant functional areas, including Risk, Claims, Underwriting, Reinsurance, and Accounting.
Ability to understand business needs and develop the necessary tools and models to support the business.
Aptitude to handle data and affinity to IT.

General skills:

Ability to deliver results in a complex and high-speed environment.
Excellent analytical and conceptual skills, combined with strong communication skills and the ability to convey complicated messages easily.
Highly motivated, open-minded, and forward-thinking.
A strong work ethic, a willingness to work to a flexible schedule and to travel occasionally.
Ability to provide leadership within the “People Attributes” framework of the Allianz Group, namely in the areas of trust, customer and market excellence, entrepreneurship and collaborative leadership.
Excellent command of English.

Appointment to this role will be subject to the requirements provided for by the Central Bank of Ireland. This role is Pre-Approval Control Function (PCF-48) and is subject to F&P Standards and the Corporate Governance Requirements. This includes the requirements provided for by the Central Bank (Individual Accountability Framework) Act 2023. See Link: Individual Accountability Framework | Central Bank of Ireland. The successful candidate will be provided with the relevant Conduct Standards (including Additional Conduct Standards) training, where required.

Allianz Group is one of the most trusted insurance and asset management companies in the world. Caring for our employees, their ambitions, dreams and challenges, is what makes us a unique employer. Together we can build an environment where everyone feels empowered and has the confidence to explore, to grow and to shape a better future for our customers and the world around us. We at Allianz believe in a diverse and inclusive workforce and are proud to be an equal opportunity employer. We encourage you to bring your whole self to work, no matter where you are from, what you look like, who you love or what you believe in. We therefore welcome applications regardless of ethnicity or cultural background, age, gender, nationality, religion, disability or sexual orientation. Great to have you on board. Let's care for tomorrow.