Our client, an insurance company is looking for a Senior Health Actuary to strengthen the Operational Department. He·she will be in charge of carrying out the actuarial analyses, studies and reports required for reporting to the supervisory authorities and advising management on how to achieve the organisation's objectives.
The Senior Health Actuary will be responsible for:
Product design and development
Performing actuarial and financial calculations, simulations and formulating proposals for insurance products and risk reports
Contributing to the design and development of insurance products through the appropriate evaluation of proposed coverages
Establishing or validating the pricing scheme and the amount of premiums for the launch of a new product or the modification of an existing product, while respecting its profitability and taking into account commercial imperatives
Defining the reserving and, where appropriate, the reinsurance
Producing the actuarial analysis for the Actuarial Function
Determining annually the maximum premium indexation rate (CPI and/or medical index)
Recommending the indexation rate to be applied on the basis of an assessment of the product's profitability
Technical provisions (BE GAAP and Solvency II)
Monitoring and implementing the rules regarding the calculation of technical provisions
Determining technical provisions taking into account applicable regulations (BE GAAP and SII) as well as relevant information from the financial markets and generally available data on underwriting risks
Ensuring the appropriateness of the underlying models
Assessing the sufficiency and quality of the data used in the calculations
Comparing the best estimates with empirical observations
Documenting the methodology, underlying models and assumptions used
Conducting analysis of changes (AOC)
Results analysis and reporting
Monitoring the profitability of products in order to assist management in taking appropriate action in the event of significant observed or anticipated deviations
Collecting, verifying and updating raw data and statistics to provide management with information for decision making
Developing, validating and updating a projection model for the profit and loss account by product (premiums, benefits, technical provisions, expenses, financial revenues)
Producing at least once a year a report on the profitability of active products (ad hoc for products in run-off)
Suggesting to management measures (increase in premiums or limitation of benefits) in the event of unfavourable deviations, likely to restore a balance in the short or medium term
Monitoring applicable regulatory developments (content and timing) and complying with them
Establishing national quantitative and Solvency II reporting in accordance with applicable actuarial and regulatory rules
Contributing to the preparation and documentation of the Own Risk and Solvency Assessment (ORSA), ensuring assessment of the company’s risk profile and capital adequacy
Contributing to qualitative reporting (pillar II Solvency II)
Profil
Master’s degree in Actuarial Science, Physics, Mathematics, or Engineering or equivalent,
At least 5 years of experience in the insurance industry,
Good knowledge of the non-life insurance market,
Knowledge of business or special risks is an added value
Knowledge of Office tools (Excel, Word, PowerPoint...) and SAS
Critical, analytical and structured mind and curiosity
Team player and ability to work independently
Willingness to share your own knowledge, your results and give advice on them
Ability to give and receive feedback
Bilingual or good knowledge of the other national language.
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