Senior Reserving Actuary
This role is based on-site in Malta (EU) and will require relocation to commence work. Visa & Work permit will be sponsored by the employer where required.
The Employer:
We are a dynamic and innovative insurance company, specializing in tailored solutions for brands, companies, and broker networks in both Life and Non-Life Insurance. With steady growth over the last 16 years, we have become a prominent player in the international market, spanning seven European countries.
We foster a culture of responsibility and provide a supportive environment for professional growth, leveraging our small size locally to offer significant opportunities. As a key player within the Insurance business line and proudly associated with industry-leading groups, we are both demanding and a source of vast opportunities.
Role Summary
The Senior Reserving Actuary will oversee the reserving function for various lines of business, taking ownership of reserve studies, regulatory compliance, and collaboration with cross-functional teams. In this high-impact role, you will contribute to financial stability, ensure reserve accuracy, and engage with departments including Finance, Underwriting, and Claims to drive insights and decisions.
Key Responsibilities
Lead Reserving Studies: Apply actuarial reserving methods using a new reserving tool to determine the most accurate reserves for financial accounts. Estimate ultimate claims and their payout patterns, identifying and monitoring portfolio segments that require specific focus.
Contribute to Costing and Reporting: Challenge costing accuracy, contribute to reporting, and deepen understanding of liability reinsurance. Develop insights that shape reserve decisions and financial strategy.
Maintain Reserve Integrity: Ensure comprehensive and accurate reserve calculations and communicate findings effectively to stakeholders, building a strong foundation for financial accounts.
Collaborate Cross-Functionally: Regularly interact with Underwriting, Claims, Technical Accounting, and Finance teams, as well as senior management, to build long-term, trustful relationships and support a shared understanding of reserve methodologies.
Support IFRS Transition: Play a key role in the transition to IFRS accounting standards and ensure seamless integration of actuarial insights into reporting structures.
Project Management and Systems Development: Lead or contribute to actuarial-related projects and systems development to enhance reserving accuracy, methodologies, and team efficiency.
Mentorship and Training: Provide guidance to junior team members, helping them develop their actuarial expertise and contributing to a culture of growth and knowledge-sharing.
Departmental Support: Assist the Head of Actuary in various tasks as required within the actuarial department, contributing to overall team success and strategic planning.
Ideal Candidate:
Educational Background: Bachelor's degree in Actuarial Science, Mathematics, Statistics, or a related field.
Experience: 5+ years of actuarial experience, with a strong focus on reserving in the insurance industry.
Technical Skills: Proficiency in actuarial reserving methodologies, stochastic modeling, and predictive analytics, along with expertise in actuarial software and strong Excel skills.
Regulatory Knowledge: Familiarity with regulatory frameworks such as IFRS 17 and Solvency II.
Soft Skills: Excellent analytical, problem-solving, and communication skills, with a demonstrated ability to explain complex data and influence decision-making.
Terms of Employment:
Indefinite contract.
Offices based in Sliema, Malta.
Salary commensurate with experience, profile, and qualifications.
Health insurance provided.
Remote working policy in place.
Join us in an environment that values your expertise and encourages collaboration, offering a platform for both professional and personal growth.
Job Types: Full-time, Permanent
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