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A leading international marine insurance company providing P&I, FD&D and War Risks cover to their international membership, are working with GRS to recruit an Actuary, for their Limassol operation. The successful candidate will have a minimum 2-3 years of post-qualified experience, ideally in non-life. If you feel you have the necessary skills and industry experience, then we look forward to receiving your CV for this rewarding Limassol Actuary opportunity.
  • Day-to-day management of the Actuarial function’s key reserving tasks and deliverables in Cyprus, reporting to the Chief Actuary in London.
  • Develop practices to streamline the overall reserving process, retain current methodologies and where relevant agree with the Chief Actuary adapting methods and assumptions for the purposes of year-end technical provision valuations. The Company is also in the process in transitioning to the implementation of IFRS17 and embedding relevant methodologies and assumptions underpinning an IFRS17 valuation will be crucial.
  • Quarterly and annual preparation of the relevant Quantitative Reporting Templates (QRTs) for the purpose of regulatory reporting to the ICCS. This also includes preparing the relevant sections within the Company’s annual Solvency & Financial Condition Report (SFCR).
  • To keep up to date with developments in the regulatory environment for insurers, particularly in relation to Solvency II, and to discuss with the Chief Actuary any new or amended requirements with which the Company will need to comply.
  • To ensure claims reserving data are maintained at a level of granularity appropriate for the conducting of detailed internal and external reserving reviews as and when required.
  • Identify opportunities to support the Cyprus CFO and Risk & Compliance Manager in their respective roles.
  • Support the actuarial team in London with their Actuarial Function duties when required.
  • Maintaining competence and capability to act in the position at all times by attending relevant events/webinars and recording Continuous Professional Development hours.
  • Ideally a qualified Actuary with 2-3 years post-qualification experience although a recently qualified Actuary with relevant experience will also be suitable for the role. Non-life experience is preferred, however someone looking to move from other actuarial disciplines (Life/Health/Pensions) will also be considered.
  • A comprehensive understanding of the insurance regulatory regime as well as developments of accountancy standards. The Company will need to implement IFRS17 and as such knowledge and experience in this particular area will be key.
  • Ability to present at times complex actuarial concepts and analysis in a manner which can be followed and understood by others with a non-actuarial background.
  • Ability to prioritise, delegate and balance attention to key duties without detriment to any individual area of responsibility.
  • Ability and willingness to develop and maintain relationships with colleagues throughout the business and third parties.
  • Good all-round skills, be adaptable and flexible with excellent analytical and communication skills.
  • Strong Microsoft Office skills, including applications such as Excel, Word, PowerPoint and Teams.
  • Ability to manage and analyse data sets is essential. Experience using data management solutions such as SQL, SAS, SAP BusinessObjects is vital. Programming skills in Python or R and/or building reports in visualisation tools such as Power BI or Tableau would be beneficial.
  • Previous experience using actuarial reserving software, whether those available in the market or company-bespoke software is relevant but not essential.
Due to the high volume of applications we receive at GRS Recruitment, only shortlisted candidates will be responded to.
To apply for this position, please email your CV to Ross Pitman, quoting the above job reference or call +357 25 342 720 for further information.
Job Summary
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    1 December 2022
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  • 3793
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