Balance Sheet Management Actuary

Purpose of the role

Athora Life Re (“ARE”) is a specialist reinsurance solutions provider for European life insurers, and is part of the Athora Group of companies. Athora Life Re has been successfully operating in Bermuda since the end of 2017, and works closely with the wider Athora Group to develop, execute and manage asset intensive reinsurance business in Europe. Athora Life Re is seeking a highly proactive individual with a hands on approach to delivering balance sheet management and regulatory reporting.

The Balance Sheet Management Actuary will report to ARE’s Chief Actuary. The role will work collaboratively with the finance, actuarial, risk and reinsurance operations teams within Athora Life Re, as well as with the Athora’s Group functions based in Dublin and London.

Key Contribution Areas

• Lead on the production of Athora Life Re’s annual business plan, working across teams to coordinate inputs, and communicating output to senior management. Analyse performance over the year and provide explanations of variances relative to the plan.

• Oversee the day-to-day implementation of ARE’s liquidity management framework, ensuring that liquidity considerations are embedded in day-to-day decision making and coordinating the production of regular liquidity management information.

• Coordinate the production and lead the review of Athora Life Re’s regulatory reporting results, ensuring a robust control environment is maintained, and deriving timely and accurate MI for use in the management of ARE’s balance sheet.

• Work closely with ARE’s investment function and asset manager to implement ARE’s Asset Liability Management (“ALM”) strategy, ensuring that key ALM risks are managed within target appetite and that ALM is optimised in the context of ARE’s various balance sheet constraints.

• Manage the process of ARE’s annual regulatory submission to the Bermuda Monetary Authority, including preparation of regulatory approval submissions and coordination with ARE’s external Approved Actuary.

• Oversee ARE’s capital management process, including production of regular capital forecasts, and performing balance sheet impact analysis to support the execution of new business and investment activity.

Key technical skills

• Qualified actuary with life (re)insurance experience, preferably with familiarity of asset intensive structures.

• Understanding of the risks underlying asset intensive life (re)insurance business.

• Experience of working within a corporate actuarial and/or risk team in the delivery of timely, and accurate regular reporting, within a robust control framework.

• Strong understanding of the dynamics of a life (re)insurance company’s regulatory balance sheet, either under Solvency II or Bermuda EBS.

• Hands-on experience with liquidity management, ALM and/or broader capital management processes is desirable.

Personal Capabilities Required

• Highly engaged, proactive individual who can work effectively in cross-border teams and maintain a clear focus on delivery.

• Ability to employ a high degree of self-management and organization in undertaking projects, to ensure multiple deliverables can be progressed in the most efficient manner within tight timeframes

• Adaptability and willingness to engage on unfamiliar topics and learn new subject matter to support the development of client solutions.

• Strong written and verbal communication skills, and the ability to summarise complex financial information to other stakeholders.

• Strong stakeholder management skills with the ability to collaborate cross-functionally

• Ability to work flexibly to meet the needs of the business

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