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Actuarial Function Holder

The Actuarial Function Holder (AFH) has a pivotal role within an insurance company. The Actuarial Function at Allianz Seguros must ensure the set-up of an appropriate control framework in line with the Allianz Integrated Risk and Control System for the validation of the key work products used for disclosure purposes and an appropriate control framework for other external and regulatory reporting. The AFH plays a critical role in reserving oversight, coordination of the calculation of technical reserves, pricing and profitability oversight for Life/Health & non-Life portfolios.

What you do

  • Reserving Oversight: Provide leadership and direction for the reserving function, ensuring the integrity and reliability of reserve estimates for insurance liabilities. Develop and implement robust reserving methodologies, assumptions, and controls in accordance with regulatory requirements and best practices.
  • Opinion on Underwriting, Pricing and Product Development: The Actuarial Function forms an opinion about the adequacy and appropriateness of the pricing and underwriting policy.
  • Opinion on the Reinsurance Policy and Program: The Actuarial Function forms an opinion about the compatibility of the reinsurance process with the risk profile of the company, the adequacy and effectiveness under stress of the reinsurance program.
  • Contribution to Risk Management: The Actuarial Function is contributing to the design, methodology, parameter and assumptions of models used to determine the technical insurance risks component.
  • Actuarial Function Report (AFR): The Actuarial Function is obliged to provide a report on an annual basis, the Actuarial Function Report (β€˜AFR’). AFR addresses explicitly potential shortcomings that may have been identified in the relevant topics, including data quality and internal processes, and gives recommendations to solve them.

What you bring

  • Qualified Actuary with significant experience in reserving/pricing roles within the insurance or reinsurance industry, preferably at a senior level.
  • Extensive knowledge of actuarial principles, reserving/pricing techniques, and regulatory requirements applicable to insurance liabilities.
  • Strong leadership and communication skills, with the ability to effectively engage and influence stakeholders at all levels of the organization.
  • Proven ability to lead and develop high-performing teams, foster collaboration, and drive results in a dynamic and fast-paced environment.
  • Advanced proficiency in actuarial modeling, statistical analysis, and data manipulation using software tools such as Excel, SAS, R, or Python.
  • Strategic thinking and problem-solving abilities, with a focus on delivering innovative solutions to complex reserving challenges.
  • Commitment to professionalism, integrity, and ethical conduct in all aspects of actuarial work.

The Actuarial Function Holder plays a critical role in ensuring the accuracy, adequacy, and compliance of reserve estimation processes, while providing strategic leadership and guidance to support the organization's financial stability and risk management objectives. The Actuarial Function Holder at Allianz Seguros will be reporting to the Chief Actuary of the company.

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