Head of Actuarial Function - Irish Life Health
Dublin, IE
Irish Life is the leading provider of financial services in Ireland for over 80 years. Our focus is to help people build better futures and we look after the needs of over 1.4m people in Ireland.
We are 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. This focus has resulted in a team of top talent with high standards, positioning us at the forefront of our industry.
Irish Life Health provides Health Insurance to over 500,000 people across Ireland both directly and through corporate schemes. Our Vision is to help people live healthier lives and we focus on providing access to healthcare solutions that will help our customers do this.
As part of the Irish Life Group, this role 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 customer excellence, diversity, and sustainability, Irish Life provides a chance to contribute to meaningful financial solutions while working in a forward-thinking, people-focused organisation.
Role Overview
Irish Life Health (ILH) is recruiting for a Head of Actuarial Function. This role will fulfil the PCF48 role for Irish Life Health dac and be part of the Insurance & Financial Solutions division.
With a management reporting line to the MD of ILH and a dotted reporting line to the Irish Life Group Head of Actuarial and Chief Risk Officer, the role holder will contribute strongly to the delivery of the ‘Better Futures Strategy 2028’ as a key member of the ILH Senior Leadership Team.
As the Head of Actuarial Function for Irish Life Health, you will be responsible for reserving and capital management to support ILH ensuring that it can meet its obligations to customers.
This is an exciting opportunity to lead a high-performing team, drive data-driven decision-making, and collaborate with senior stakeholders provide insights, oversight and advice on key financial decisions, business planning and strategy development and execution.
Given the dynamic nature of the health insurance industry, this role is a strategic and impactful position, where you can directly influence business success and customer outcomes.
We reserve the right to create a panel of suitable candidates for this role type. Any permanent or fixed term opportunities that arise within the next six months may be appointed from this panel if required.
More specific responsibilities will include
• Lead the Irish Life Health actuarial team. The Actuarial Function is responsible for co-ordinating the calculation of IFRS technical provisions, Solvency II technical provisions and capital requirements and leading the actuarial aspects of regulatory reporting for Irish Life Health including annual and quarterly QRTs and the SFCR and RSR.
• Continually review and enhance methodologies and approaches in response to emerging experience, seeking a range of different perspectives from across the business to enhance understanding of experience and inform key reserving decisions.
• Communicate actionable insights from the reserving process effectively to the wider business.
• Ensure compliance with all relevant regulations and professional guidance for all areas within the responsibility of this role.
• Report regularly to the Audit Committee and Board on actuarial and reserving matters.
• Together with the Head of Finance, lead the process for producing Irish Life Health’s earnings and dividend projections as part of the business planning process.
• Contribute to the assessment of strategic initiatives as part of the development of the company’s strategy.
• Provide oversight of Irish Life Health’s pricing, influence the company’s pricing and product strategies and decisions using actuarial insights and knowledge of the wider business in the context of open enrolment, community rating and risk equalisation
• Lead the development and review the Company’s reinsurance strategy and other capital management initiatives.
• Contribute to the effective implementation of ILH’s risk-management system, including collaborating with the Chief Risk Officer and provide appropriate input to the ILH ORSA process.
• Lead a team of actuarial professionals. Foster a high-performance culture by mentoring, coaching, and developing team members. Identify skill 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 ILH Senior Leadership Team to contribute to and support achievement of our ‘Better Futures Strategy’ objectives.
• 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 is encouraged.
What you will need to be successful in the role
This is an exciting opportunity for an experienced Actuary. The ideal candidate will be / will have:
• An actuarial qualification (FSAI), or other appropriate professional qualification, with significant post-qualification experience working in health insurance, life insurance or non-life insurance.
• Strong, proven experience in executive leadership positions
• Proven leadership skills and experience in leading a high performing team of professionals that deliver on commitments.
• Strong technical actuarial capabilities, sound judgement and excellent decision-making skills.
• A desire and ability to learn new skills and techniques.
• Be capable of excellent attention to detail, while also assessing and prioritising effectively and driving a culture of simplification where appropriate.
• A proven ability to effectively manage multiple priorities and deliver to tight timeframes when needed.
• Detailed knowledge of Solvency II regulations and requirements.
• Excellent communication skills, and in particular, a proven ability to explain complex issues clearly and concisely to a wide range of stakeholders both in writing and verbally.
• Strong collaboration skills and ability to work with a range of business units and functions to achieve overall strategic and business targets.
Key Competencies
Fitness & Probity:
This role is a ‘pre approved controlled function’ as defined by the Central Bank Reform Act 2010 Regulations 2011. Any appointment will be conditional on the company being satisfied that the appointee meets the requirements as set out in the Fitness and Probity standards issued by the Central Bank and that the appointment has been approved in writing by the Central Bank. This requires the company to complete prescribed due diligence to assess the appointee’s fitness and probity. Further details on this due diligence process are available from Human Resources.
The company reserves the right to draw up a shortlist as part of the selection process. Where Agency assistance is required the Irish Life Recruitment Team will engage directly with suppliers. Unsolicited CVs / profiles supplied to Irish Life by Recruitment Agencies will not be accepted for this role.
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 best.
Irish Life Group Services supports Equal Opportunity.
Irish Life Assurance plc, Irish Life Financial Services limited, Irish Life Health and Irish Life Investment Managers support Equal Opportunity and are regulated by the Central Bank of Ireland.