The Central Bank of Ireland serves the public interest by safeguarding monetary and financial stability and by working to ensure that the financial system operates in the best interests of consumers and the wider economy.

We currently have a vacancy for a Senior Policy Specialist – Insurance Risks, Actuary on a fixed term contract in the Financial Risks and Governance Policy Division. This role is aligned with the Bank Professional 2 grade and the BP2 salary scale, between €82,466 and €103,957 applies.

Please click here – https://www.centralbank.ie/docs/default-source/careers/policies/staff-categories-salary-scales-and-salary-bands.pdf?sfvrsn=24 – for further information on our salary scales.

The purpose of the role is to provide expert contribution to the development of Central Bank and European Insurance risk policy in a timely and effective manner and support its implementation at a national level to ensure high quality policy outcomes.

Responsibilities:

• Lead and propose the direction of the development of Insurance Risk policy including providing expert advice on the implementation of that policy to ensure the delivery of high quality, technically accurate policy input/positions.
• Represent Ireland on relevant domestic and EU fora, including sub-committees of the European Insurance and Occupational Pensions Authority. Deliver strong influence for the Central Bank on such bodies, making important on-the-spot judgements, negotiating astutely in order to ensure Central Bank interests are appropriately represented.
• Provide technical briefing and/or recommendations to senior executives on insurance risk as required to ensure senior management are appraised of the technical issues involved and how such issues may impact the Central Bank’s risk appetite both at a domestic and/or EU level.
• Provide expert technical input to colleagues and relevant government departments on policy developments and national transposition to ensure the development of a technically accurate and prudentially sound regulatory framework. Provide expert technical advice to internal stakeholders, including senior executives, recommending solutions to complex supervisory problems and emerging issues, so as to contribute to the robustness of supervisory practices and decisions.
• Provide relevant skills transfer, coaching and mentoring to team members to share expertise and ensure that the necessary skills, competencies and knowledge are being developed and leveraged across the Financial Risks team, as appropriate. Oversee the work of the Policy Specialists – Insurance Risk, as appropriate, and provide feedback on their performance to the Policy Manager.
• Manage and foster a good working relationship with internal and external stakeholders to ensure that policy positions and proposals are conveyed clearly and persuasively and that stakeholders’ concerns/queries are appropriately addressed, at various stages in policy development.
• Develop and deliver appropriate high quality training, including “Train the Trainer” and provide supports on specific insurance risk policy issues to ensure that policy outcomes are understood and embedded as intended.

Requirements:

• A full actuarial qualification
• A member of a recognised actuarial association.
• A minimum of 5 years post-qualification experience.
• A strong background in insurance/reinsurance (life or non-life) with experience of reserving, pricing or capital
• A very strong knowledge and understanding of the European and Irish insurance legislative and regulatory framework
• Detailed technical knowledge of capital/ reserving/ pricing
• A strong understanding of insurance legislation and the practical operation of (re)insurance undertakings
• Strong analytical, problem solving and decision making skills.
• Ability to proactively source relevant information from inside and outside the Central Bank and in insurance risk in order to formulate policy positions and present solutions to complex policy questions.
• Strong drafting and presentation skills.
• Good knowledge of the financial services industry.
• Highly developed oral and written communication skills and a proven ability to influence and negotiate at a senior level both internally and externally. The role holder is able effectively to communicate complex policy problems and decisions.
• Significant personal impact, networking and negotiating capacity
• Ability to work effectively as a team member and to motivate and develop others

We know it’s our people who make the Central Bank special and we are focused on creating a diverse, inclusive, fulfilling and progressive work environment. We encourage applications from candidates with different backgrounds, experiences and perspectives as it strengthens us, as individuals and as an organisation. We are committed to positively supporting candidates with disabilities. If we can make any reasonable accommodations for you in the recruitment process in order to give you the opportunity to perform to your best, please let us know. Any information that you provide will be used only for the purposes of providing relevant support and will have no bearing on how your application will be viewed.

We have recently implemented a hybrid working model to balance the flexibility working from home provides with the value our office environments bring to support collaboration and connection with colleagues. Our approach to hybrid working enables colleagues to work from home up to 50% of working days, building on an existing broad range of flexible working policies and practices already in place to support our people achieve the right balance.

Our policies also provide insight into our organisational culture, work environment and working arrangements. Here are some of the key policies (subject to ongoing review and amendment) which may be of interest as you consider a career with us.

The Central Bank pension scheme mirrors the rules of the civil service pension scheme. Therefore if you are in receipt of civil/public service pension, abatement may apply to your current pension. Details of the appropriate pension scheme will be provided upon determination of the appointee’s status.

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The Central Bank of Ireland is an equal opportunities employer.