Experience NeededPrevious experience in similar role would be ideal
About the position
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
- 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.
- Develop actuarial, statistical, and data tools to enhance actuarial studies, risk estimation, data automation, and optimisation.
- 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.
- 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.
- 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 email@example.com