PKF Malta is looking to recruit an in-house Actuary to assist with the internal audit insurance team. The candidate must be based already in Malta and hold a Master's degree, including a diploma in actuarial science with 1 to 3 years of experience in a similar role. Preference will be given to candidates who progressed well in achieving the IFOA exams.

What You Will Do:

You will play a pivotal role in various technical aspects of actuarial work.

Your responsibilities encompass the following key areas:

Technical Provisions (Review):

• Data Analysis and Wrangling: Thoroughly analyse and wrangle data to inform actuarial decisions.
• Best Estimate Liabilities: Review and manage assumptions, reserves, discounting, and management actions.
• Risk Margin: Assess non-hedgeable risk capital, cost of capital, and discounting factors.

SCR (Review & Independent Calculation):

• Market Risk: Verify asset data, perform reconciliation, and classify assets. Apply standard formulas for risk assessment.
• Non-life Risk: Evaluate non-life insurance risk and associated provisions.
• Operational Risk: Assess operational risk factors and implications.
• Loss Absorbing Capacity of Deferred Tax: Examine the capacity of deferred tax to absorb losses.
• Consolidation and Analysis: Analyze and consolidate various aspects of actuarial work.

IFRS 17 Reserves Review:

• Conduct data analysis and refine methodology for IFRS 17 reserves.
• Calculate IFRS 17 reserves using actuarial methods and models.
• Provide actuarial data and assumptions, and produce cash flow projections (LRC, LIC) for year-end reserve calculations.

LIC & LRC - Direct/Reinsurance (Review & Independent Calculation):

• Review and independently calculate Best Estimate reserves, including IBNR, S&S, OCR, ULAE, UPR, and DAC.
• Assess Contractual Service Margin (CSM) and Risk Adjustment (RA).

PAA Eligibility Assessment:

• Conduct in-depth assessments of PAA eligibility, involving policy and technical document review.
• Review GMM and PAA LRC modeling approaches, input assumptions, and conduct independent sample testing.
• Analyze LRC outputs and eligibility assessment results.

Product Development and Pricing:

• Lead pricing studies for insurance programs

Solvency II:

• Calculate reserve levels, capital requirements, and dividend amounts.
• Prepare regular and Pillar II reports.
• Develop risk management policy and reference frameworks for risk measurement.

Technical Monitoring of Portfolios:

• Regularly monitor portfolio technical and risk factors, and identify alert indicators.

Modelling:

• Develop actuarial, statistical, and data tools to enhance actuarial studies, risk estimation, data automation, and optimisation.

Actuarial Support:

• Provide actuarial support for operational activities and projects.

Who We Are Looking For:

To excel in this role, we are seeking candidates with the following qualifications and characteristics:

• A master's degree, including a diploma in actuarial science.
• Intermediary or advanced stage of obtaining the IFOA exams.
• 1 to 2 years of experience as an actuary in the insurance field.
• Strong analytical skills, attention to detail, and a proactive approach.
• Effective communication and interpersonal skills.

IT Skills:

• Proficiency in one of the following software tools: "R" or "R-Studio," "Python," or "VBA."
• Experience with SQL/MySQL and a general understanding of relational databases.

Language Skills:

• Fluent in Business English

Why work at PKF work? Check out some of our company benefits:

• Competitive salaries with annual increases and job security.
• Employee referral bonus ranging from €500 to €1000 (T&Cs apply)
• Opportunities for career growth and advancement.
• Recognition for exceptional performance.
• Professional Development: access to both in-house & external training programs.
• A modern and safe workplace.
• Ensuring a healthy work-life balance.
• Hybrid working conditions, providing flexibility
• A youthful, enjoyable and welcoming work environment.
• An open-door policy with Seniors and Partners.
• Compensation for overtime work (when applicable).
• Regular team events and activities to foster camaraderie and professional growth.
• Study leave offered to enhance your skills & knowledge.

Send your Cover Letter and CV to recruitment@pkfmalta.com