Location: hybride
Employment: Full-time
Based in one of Athora’s offices, this new role offers the right candidate a unique opportunity to lead the insurance risk and in particular longevity and lapse risk modelling developments across the Group.
About Athora Group
Athora is an insurance and reinsurance group fully focused on the European market. We focus on growing our franchise, via acquisition, transfer, or reinsurance of portfolios from other insurers, and delivering a competitive long-term return to our customers. Our principal operational subsidiaries are Athora Netherlands (including the Zwitserleven and Reaal brands), Athora Lebensversicherung in Germany, Athora Ireland, Athora Belgium and Athora Life Re, a Bermuda-domiciled reinsurer. Our acquisition of Italian life insurer, Amissima Vita, is expected to close in the first half of 2022, subject to applicable regulatory clearances. Athora has about 2,300 employees and over 2 million policyholders with €79 billion of assets under administration at 30 June 2021. We have ambitious plans to grow our business across Europe and we are looking for team players to join us on our journey.
Working at Athora Group
We offer a fast-paced, dynamic work environment where our actions define us, more than any words or promises. We innovate to keep our business at the forefront of the market. People are at the heart of what we do, and we always value that humanity. We do what we do as well as we can because we are about improving lives, inside and outside our business.
Executive Summary
Role Title: Senior Manager Insurance Risk Modelling
Reporting to: Director Risk Modelling
Team: Group Risk
Function: Risk
Location: Flexible across Europe
Purpose of this role
Based in one of Athora’s offices, this new role offers the right candidate a unique opportunity to lead the insurance risk and in particular longevity and lapse risk modelling developments across the Group. The successful candidate will play a key role in the quantification and management of longevity and lapse risks within the Athora Group, covering both Solvency II and Bermuda regimes. The role will involve for example leading various initiatives in the area of longevity and lapse modelling, requiring strong project and stakeholders’ management.
Key Contribution Areas
Internal Economic Capital
- Lead the development of Athora Group’s Internal Economic Capital framework for insurance risks (in particular longevity and lapse) that could be further developed into Internal Model under the relevant regulatory regimes
- Manage the relationship with external advisory partners in relation to developments of insurance risk modelling
- Develop the P&L attribution for insurance risks linking Economic Capital and reserving assumptions
- Lead the calibration of correlations between the different insurance risk types
Bermuda regulatory regime
- Develop the insurance risk SCR methodology under the Bermuda regulatory framework
- Lead the Group Specific Parameters (GSP) process for the recognition of for example longevity risk reinsurance in the regulatory solvency calculations
- Support the calibration and regular updates of the longevity and lapse assumptions
- Oversee the appropriate application of regulatory frameworks specific to insurance risks at Group and local levels
Solvency Self-Assessment (SSA)
- Lead the assessment of the Regulatory Capital Appropriateness for insurance risks, for the Business Units (as part of the local Own Risk Self-Assessment) and for the Group (as part of the Group Solvency Self-Assessment)
- Design Stress Test and Reverse Stress Test scenarios linked to insurance risks to be assessed as part of the SSA process for the Business Units and for the Group
Pricing and Reinsurance
- Develop/refine the approach used to assess longevity risk for pricing purposes and oversee its application within the growth segments: new business, M&A and (inward) reinsurance
- Lead the assessment of the effectiveness of (outward) longevity reinsurance strategy and propose recommendations to improve risk-return optimisation
- Develop and maintain relationships with external longevity reinsurers. Support and collaborate with local Business Units on longevity de-risking projects including tender processes, impact quantification and execution
- Lead the management and measurement of lapse risk
Personal Capabilities Required
- Highly motivated individual who is able to work under pressure
- Able to lead and manage multiple strategic projects under time pressure while keeping key stakeholders appropriately informed
- Drive and determination to achieve on-time, accurate high-quality results in a complex, often changing environment
- Able to work independently to assess, analyse and provide recommendations for complex issues
- Strong team player with high level of diplomacy and influencing skills
- Possesses excellent communication skills (both written and oral) with an ability to persuade and influence at all levels of the organisation with ability to present information effectively and clearly
- Strong service attitude, strives for efficiency and effectiveness
Functional or Technical Knowledge and Skill Required
- 7yrs+ post-graduate experience within a risk or actuarial function
- Qualified Actuary and/or qualification in a quantitative discipline
- Proven experience in project management with active stakeholder management
- Good knowledge of longevity risk modelling approaches across the insurance industry
- Good knowledge of regulatory frameworks (Solvency II a must, Bermuda a distinct advantage)
- Familiarity and experience with internal model regulatory requirements for longevity risk is preferred
Location:
hybride
Information and application:
