Chief Actuary

The company offers a comprehensive range of financing and related services for car customers of Renault Group. Backed by an international network, the company has established itself in Malta to deliver and service a portfolio of protection insurance products in a number of European Countries.

In order to strengthen its existing team, the Company is seeking a ‘Chief Actuary’ who will report functionally to the Chief Financial Officer.

• Oversee provisioning and pricing work.
• Ensure the evaluation and monitoring of the technical profitability of the portfolios.
• Develop and maintain actuarial models.
• Analyse trends in claims, mortality, longevity, frequency and severity.
• Participate in the development of new insurance products.

• Contribute to the calculation of SCR, MCR and regulatory capital.
• Participate in ORSA exercises.
• Assess the actuarial impacts of regulatory changes.
• Contribute to the definition of risk appetite.

• Oversee assumptions and calculation methods.
• Ensure the robustness of actuarial models.
• Implement data quality controls.
• Guarantee the documentation and traceability of calculations.

• Advise the General Management on technical risks.
• Provide forward-looking profitability and solvency analyses.
• Participate in external growth operations, partnerships or restructuring.
• Make recommendations on capital optimization.

As the holder of the Actuarial Key Function, the Chief Actuary is responsible for:

• Ensure the use of appropriate methods, models and assumptions.
• Assess the sufficiency and quality of the data used.
• Assess the uncertainty inherent in the estimates.

• To issue an independent opinion on the coherence between the underwriting policy and the risk profile.
• Assess the adequacy of pricing processes.

• To review the adequacy and effectiveness of the reinsurance program.
• Assess the impact of reinsurance on solvency and risk profile.

• Participate in the identification, measurement and monitoring of actuarial risks.
• Contribute to ORSA work.
• Collaborate with other key functions (Risk Management, Compliance, Internal Audit).

• Produce the annual report of the Actuarial Key Function.
• Present findings to governance bodies.
• Interact with the regulator MFSA and the statutory auditors.

• Supervise the actuarial, modelling and provisioning teams.
• Develop the technical skills of the team.
• Promote a culture of risk and data quality.
• Ensure coordination with the Finance, Risks, Underwriting and Reinsurance departments.

• Recognized actuary degree (Institute of Actuaries or equivalent).
• Advanced degree in mathematics, statistics, quantitative finance or insurance.

• Minimum 10 to 15 years of experience in actuarial science for life, non-life or reinsurance.
• Significant experience in a Solvency II environment.
• Experience in managing technical teams.
• Experience in exercising or supervising a key actuarial function is appreciated.

• Actuarial provisioning.
• Pricing and modeling.
• Solvency II.
• ORSA.
• Reassurance.
• Economic capital.
• IFRS 17.
• Data analysis and statistical modeling.

• Leadership and influence.
• Ability to challenge decisions.
• Excellent analytical and synthesis skills.
• Communication with governing bodies.
• Independence of judgment.
• Rigor and professional ethics.
• Fluent English,
• French appreciated

Renault Group is committed to creating an inclusive working environment and the conditions for each of us to bring their passion, perform to the full and grow, whilst being themselves.  
We find strength in our diversity and we are engaged to ensure equal employment opportunities regardless of race, colour, ancestry, religion, gender, national origin, sexual orientation, age, citizenship, marital status, disability, gender identity, etc. If you have a disability or special need requiring layout of the workstation or work schedule, please let us know by completing this form.

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