Bank of Ireland Hiring for Trainee Actuary Job at Ireland , Ireland Full Time

The Wealth and Insurance division of Bank of Ireland is a market leading life, pension and general insurance provider in the Irish market. The Life Company (New Ireland Assurance Company) was established over 100 years ago and provides a range of protection, investment and pension products offering customers access to a wide range of investment markets and fund managers across its fund platform. New Ireland distributes across three core channels made up of the Group’s distribution channels, independent financial brokers and its own tied financial advisor network. It is the only Bancassurer in the Irish market.

The role will be primarily focused within the Reinsurance area of the Actuarial Function. It will involve supporting the design, implementation and oversight of the overall reinsurance strategy for the Company. Other responsibilities include account settlement and experience analyses. The role offers the opportunity to work closely with our Capital, Actuarial Valuation and Product teams in the production of quarterly financial reports on the company value and solvency position, and in support for Commercial operations.

Purpose of the Role

This is an excellent opportunity which offers the successful candidate the opportunity to become a part of the Actuarial Function team. The purpose of the role is to assist in the design, implementation and oversight of the overall reinsurance strategy, and in the valuation and reporting of reinsurance arrangements policies on a quarterly basis in order to meet financial reporting deadlines.

Key Accountabilities

The role involves supporting the Reinsurance Actuary in ensuring that the Company’s reinsurance arrangements are within the parameters of the reinsurance policy and risk appetite. This includes:

• Supporting the ongoing relationships between the Company and its reinsurance partners
• Quarterly calculation of premiums/recoveries and the settlement of quarterly accounts
• Ongoing monitoring and management of exposures, and oversight of collateral arrangements
• Supporting with experience analyses, tender processes, and updates to the Company’s Reinsurance Committee
• Supporting with preparation and presentation of papers to the company’s SMT

Other opportunities include:

• Working as part of a team of part qualified and qualified actuaries, sharing expertise and knowledge across the business. In particular collaboration with our colleagues within the Actuarial Function on projects and reporting exercises, and Product and Pricing to assist in commercial operations and developments
• Help a team continue to deliver exceptional service, while pursuing innovation and efficiency improvements
• Assist external auditor through their reviews to ensure sign off given within agreed time frame

What is the opportunity

The role is open to student/nearly qualified actuaries who would like the opportunity to play a significant role in the continued development of New Ireland’s reinsurance arrangements, and support on cross-functional projects with Finance, Risk and Commercial teams.

The successful candidate will be involved in a variety of analytical and development work which will draw on their strong technical, analytical and communications skills. The role reports to the Reinsurance Actuary and working arrangements will be flexible with working from home facilitated, it may be necessary to attend a central Dublin based office from time to time.

Essential Qualifications

The role holder will be a student/nearly qualified actuary or recent graduate with a mathematical or actuarial background, with experience working in the Life and Pensions business.

Essential Skills & Experience

• Excellent standard of Microsoft Excel is required
• Excellent communication, interpersonal skills and team working skills
• Ability to balance opposing priorities while still achieving a high standard of work
• Technical expertise
• Ability to work off own initiative

Desirable Qualifications, Skills & Experience

• An understanding of the external commercial and regulatory environment, as well as the wider reinsurance market would be advantageous
• Life and pension product knowledge
• Strong planning and organising skills
• Strong cross functional collaboration skills
• Influencing skills