Senior Manager Actuarial
Guardian Group · Trinidad
We are seeking a strategic and experienced Senior Manager – Actuarial to join our team. In this role, you will lead actuarial analysis, provide data-driven insights, and support key business decisions while ensuring regulatory compliance and financial sustainability. If you're a forward-thinking leader with a passion for delivering impactful solutions, we'd love to hear from you.
- About Guardian Life of the Caribbean Limited
- Guardian Life of the Caribbean Limited leads the charge in Life, Health, and Pension solutions throughout the Caribbean Region. Our unwavering mission is to cultivate financial freedom for our stakeholders through transformative interactions, fuelled by the relentless power of technology. With innovation at our core, we strive to redefine the landscape of financial services, empowering individuals, and businesses alike to pursue their dreams with confidence and security.
- JOB OVERVIEW:
- The Senior Manager – Actuarial collaborates with the Executive to develop and implement Pricing, Product Development, Reinsurance and Valuations objectives and strategies. He/ she has oversight of the department’s resources, including the human resource planning and budgeting. Additionally, he/ she ensures compliance with professional and departmental guidelines and controls.
JOB RESPONSIBILITIES:
Valuation:
- Review and guide the unit’s work including but not limited to: monthly insurance liability results, modelling updates, capital adequacy calculations, statutory reporting, budget projections, experience investigations, bond valuation, and derivation of interest rate assumptions.
- Establish processes to validate valuation models and ensure accuracy of results.
- Develop appropriate analyses to address the needs of users of valuation unit services.
- Advise on valuation issues including liability movements, capital adequacy, shareholder & policyholder dividend policy and financial reporting including the preparation of actuarial reports.
- Ongoing identification of valuation model issues, maintenance of a model log and prioritization of issues to be fed into individual work plans.
- Drive improvements in the effectiveness and efficiency of the reserving and valuation processes.
2. Pricing:
- Review and guide the unit’s work including but not limited to: pricing model updates, product development, pricing results, special projects, product profitability, commissions analyses, and special/ large/ bulk quotations.
- Establish processes to validate pricing work and ensure accuracy of results.
- Develop framework for product pricing including profitability metrics, other KPIs and reporting templates.
- Develop appropriate analyses to address the needs of users of pricing unit services.
- Co-ordinate testing of illustration and administration system updates for new and amended products and systems.
- Alert and advise on arising pricing issues, including product design, inherent risks, strategic value, and monitoring of product profitability.
- Oversee preparation of product pricing reports and other strategic reports.
3. Reinsurance:
- Review and guide the unit’s work including but not limited to: reinsurance policy and treaty administration, coordinate treaty renewals and document maintenance, recapture analyses and execution, and generation of reinsurance billings and journals.
- Establish processes to validate reinsurance models and ensure accuracy of results.
- Advise on reinsurance issues including treaty amendments, policy reconciliations and regulatory reporting.
- Ensure Profit Commissions for relevant reinsurers is requested and ensure payments received from reinsurers remain up to date.
- Oversee preparation of reinsurance management reports.
- 4. Strategic:
- • Work with the Executive to develop objectives and strategies for the department, plan resource allocation, prioritization, and budget allocation.
5. Operational:
- Co-ordinate maintenance, development, validation and documentation of actuarial models and results including the establishment of a model control system and business continuity planning.
- Co-ordinate the training and development of the department’s employees, including providing feedback as part of the performance review process.
- AXIS and Risk-Integrity administration
6. People Management:
- Lead, motivate, inspire and encourage employees through effective performance management – setting of clear goals and objectives and to ensure that performance assessments are completed and submitted on time and accurate.
- Ensuring that performance gaps are closed through relevant training, monitoring work performance through continuous performance discussions and coaching; ensuring that they are equipped with the resources (training and physical infrastructure) to achieve their goals
- Leave Management and Preparation of Enrolment Forms for approval in accordance with established procedures to ensure operational efficiency is maintained.
- Devise ways to optimize procedures and keep staff motivated
- Improve staff work processes: determine if inefficiencies exist and find solutions, develop and implement monitoring tools.
- When required conduct interviews or assist with head hunting for appropriate staff.
- Attend to all escalated discipline and grievance matters to ensure staff operate within the set professional guidelines of the company and fair treatment of all.
- Weekly huddles with staff to discuss performance and any appropriate action to be taken.
7. Perform any other job-related duties as assigned by the Executive.
EDUCATION & EXPERIENCE:
- Bachelor Degree in Actuarial Science, Mathematics, Statistics, or a related field from a recognized tertiary level institution.
- Fellow of the Society of Actuaries, or Fellow of the Institute & Faculty of Actuaries; or alternatively, an Associate of the Society of Actuaries, or Associate of the Institute & Faculty of Actuaries with 10+ years’ experience in the Life Insurance industry.
- Postgraduate qualification in a related field
- At least 5 years’ experience in a similar role with a minimum of five (5) years in the Life Insurance Industry.
- At least 5 years’ experience managing people.
- Appreciation of basic principles in finance, accounting, human resources, marketing, information technology, etc.
- Demonstrated experience with insurance products, pricing, reserving and reporting.
- ADDITIONAL REQUIREMENT:
- As a regulated entity with obligations under the Know Your Employee guidelines, a Certificate of Character is required.
- PERSON SPECIFICATION:
- The Senior Manager – Actuarial must be a proven leader with the ability to lead, motivate and manage diverse individuals towards the achievement of the unit’s objectives. The individual must have excellent written and oral communication skills, a very keen eye for detail, strong tactical skills, the ability to articulate ideas to both technical and non-technical audiences and an exceptional service orientation. He/ she must also be self-motivated and directed but should also be able to inspire and motivate team members and function effectively in a collaborative environment. The individual must be multi-skilled, possess a strategic and results driven mindset.