Executive Manager - Actuarial - Irish Life

Irish Life

  • Dublin
  • Permanent
  • Full-time
  • 2 months ago
  • Full Time & Permanent Contract position
  • Hybrid role based in our City Centre offices
What we offerWe have embraced a hybrid working model for most of our positions, which means that you can enjoy a balanced approach of working from home for part of the week and working from the office for the remainder of the week.We offer a comprehensive benefits package including competitive salaries and bonuses, robust Learning and Development support, excellent Defined Contribution pension and comprehensive Wellbeing initiatives and support to name but a few.Further details on our benefits package can be accessed hereRole OverviewIrish Life is recruiting for two Executive Managers within the ILA Actuarial Function. Reporting to the ILA Head of Actuarial Function (HoAF), the role holders will contribute strongly to the delivery of the 'Better Futures Strategy 2028' as a key member of the Actuarial Function Leadership Team within the IFS business unit. The ILA Actuarial Function is a core part of the IFS business unit within the wider Irish Life Group (ILG).Working with Irish Life presents an exciting opportunity to be part of one of Ireland's leading financial services companies, known for its innovation, stability, and strong reputation in insurance, pensions, and investments. The company fosters a dynamic and collaborative work environment, offering career growth, learning opportunities, and strong employee benefits. With a commitment to 'best in class' customer experience, diversity, and sustainability, Irish Life provides a chance to contribute to meaningful financial solutions while working in a forward-thinking, people-focused organisation.Job PurposeAs an Executive Manager within the ILA Actuarial Function and a member of the Actuarial Function Leadership Team, you will play a pivotal leadership role in shaping the company's strategy, risk management, and overall business performance. These are exciting opportunities to lead within a high-performing team, drive data-driven decision-making, and collaborate with senior stakeholders to deliver across a diverse and wide-ranging agenda. Both roles have a strategic and impactful position, where you can directly influence business success while working at the forefront of insurance innovation in Ireland.The Executive Manager - Actuarial Development and Strategic Initiatives is responsible for leading the development of actuarial models and process improvement in ILA. The role is also responsible for identifying and delivering capital efficiency opportunities to support the strategic and commercial goals of the company.The Executive Manager - Actuarial Business Support will work closely with the actuarial reporting and pricing teams and focus on insight and impact from IFS into the other 'Solutions' business units.Insurance and Financial Solutions (IFS) is responsible for the development and monitoring of the full range of life insurance, pension, health insurance and investment products that Irish Life offers across a wide range of channels to both individual and corporate customers.Key ResponsibilitiesBoth roles share similar responsibilities.
  • Lead and build a high-performing team and culture by mentoring, coaching, and developing team members.
  • Identify skills gaps, provide growth opportunities, and support career progression through training, feedback, and leadership development initiatives, ensuring a strong talent pipeline for future business success.
  • Participate strongly and effectively as a member of the Actuarial Function Leadership Team to deliver agreed objectives across the function and within the IFS business unit.
  • Build and maintain key relationships across IFS, Irish Life, the wider Lifeco group and externally with key stakeholders and business partners.
  • Maintain a deep knowledge of Irish Life's products, markets, distribution channels, competitor positions, development trends and regulation including the wider financial services sector.
  • Support the HoAF of ILA who is accountable for delivery of the strategy and objectives for the function in line with SEAR and Central Bank of Ireland requirements.
  • Build a culture with an inherently strong system of compliance with regulatory requirements as well as internal controls where improvements in the analysis and management of risk are encouraged.
Executive Manager - Actuarial Business Support
  • Deliver insight and support to the 'Solutions' business units across the Irish Life Group.
  • Own the delivery of the annual experience investigation and assumption setting processes. Ensure industry developments in relation to key assumptions are considered and work collaboratively with other GWL entities on common assumption sets.
  • Own the actuarial business plan, working in close collaboration with relevant finance teams.
Manage the unit-linked appropriations process to ensure the minimisation of shareholder exposure. * Work closely with the Pricing team to report on and support the delivery of new business profitability targets including providing approvals for non-standard pricing proposals.
  • Represent the Actuarial Function in cross-functional teams to provide input on financial implications and ensure the requirements of the Function are represented.
  • Review existing methodologies and develop new ways to improve efficiency, maintaining a culture of continuous improvement across the team.
  • Ensure familiarity with risk management programmes, as they impact on this position, and follow appropriate risk management procedures to control, monitor and report on business activities. Ensure compliance with Company policies, regulatory, professional and legal requirements.
Executive Manager - Actuarial Development and Strategic Initiatives
  • Own the long-term vision for the actuarial modelling environment in ILA.
  • Oversee the development of the Prophet models of the company, ensuring that they meet the needs of stakeholders and adhere to ILA and LifeCo model risk management frameworks.
  • Proactively review actuarial processes and make recommendations to senior actuarial leaders regarding current standards, best practice and development options.
  • Work to continually improve ILA's actuarial reporting systems to increase efficiency and ensure that systems keep pace with changing demands.
  • Develop capital efficient and dividend generating structures including assessing the appropriateness of these in the context of risk appetite and the overall output from the ORSA process.
  • Work collaboratively with LifeCo actuarial and IT teams to ensure that models are implemented and integrated in global systems optimally.
  • Lead the delivery of large, non-recurring projects which fall outside of normal BAU and have a significant actuarial element.
  • Engage key stakeholders in order to prioritise initiatives that deliver the highest value and impact.
  • Share innovations with other actuarial teams in the GWL group to build and enhance the actuarial control environment throughout the wider group.
Key CompetenciesLeadershipDrive for ResultsCommunication & InfluencingBuilding and Maintaining RelationshipsCommercial AwarenessProblem Solving & Decision MakingRisk and ControlAbout usIrish Life is one of Ireland's largest financial institutions with a presence across a range of financial services markets. We are one of Ireland's leading financial services groups with over 1.5 million customers. For over 80 years, we've been helping people to look after their life insurance, pension and investment needs, and more recently their health insurance.It is a subsidiary of Great-West Lifeco and a member of the Power Financial Corporation group of companies.We are proud of our culture of developing and supporting the growth and professional development of our people. The focus has resulted in a team of top talent with high standards, positioning us at the forefront of our industry.Irish Life is proud to be an Equal Opportunities employer. We have created an environment of inclusion and growth to help people achieve their potential, to ensure they can bring their whole selves to work and to feel valued. We celebrate diversity of thought and perspective and want all of our employees to feel valued, respected and supported. We have built a culture that promotes equality and inclusion for all of our current and future employees and strive to ensure that our behaviours, processes and practices are aligned to this culture.If you require any accommodations during the recruitment process please contact lifecareers@irishlife.ie and we will be delighted to ensure you are fully supported to be your bestThe company reserves the right to draw up a shortlist as part of the selection process. The selection process employed will be at the discretion of the Group.ILGL supports Equal Opportunity.

Irish Life