5 months ago
At PwC Malta, our purpose is to build trust in society and solve important problems. We’re a network of firms in 158 countries with more than 250,000 people who are committed to delivering quality in assurance, advisory and tax services.
Job Description & Summary
The applicant will be responsible for managing an energetic actuarial team and the role would include working closely with both audit and non-audit clients in the insurance industry and the multi-disciplinary PwC insurance team in order to advise and provide assurance to our clients on various matters, including:
- All areas relating to Solvency II, including the assessment of regulatory capital requirements;
- Valuation of technical provisions in line with Solvency II principles and IFRS;
- Risk management and corporate governance as they relate to our insurance clients;
- Matters relating to the insurance licence application process;
- Adoption of IFRS 17 ('Insurance Contracts').
The skill set and experience required to be successful in this role includes:
- Demonstrable work experience (5+ years) in actuarial insurance related areas – Experience in risk and capital modelling (including model development and implementation, and model validation), and a strong understanding of reserving, underwriting and catastrophe risks, including in particular exposure to Solvency II regulation (drafting of ORSAs, SCR calculations, etc.);
- Good understanding of a broad range of commonly used reserving techniques and the key reserving issues faced by the insurance industry – Actuarial work is highly analytical and technical. And as many of our clients work in regulation, finance or sit on the boards of companies, the terminology we use isn't something they're usually familiar with. That’s why we need people who can explain complex subjects to non-actuaries in plain English - making it crucial to have a flair for communication, strong interpersonal skills and good all-round commercial awareness;
- Having strong project and financial management skills. The ability to manage, and work in a team and deliver to budget and within timescales is an important skill;
- Being flexible, have the ability to multi-task effectively and have strong technical, problem identification and analytical skills;
- Strongly committed to both personal and corporate success – Be self-motivated, in particular taking responsibility for personal development in technical and broader consulting skills;
- Knowledge in IFRS 17 will be considered to be an asset;
- Qualification by the IFoA (or equivalent).