Director of Actuarial & Risk Management

ICAP Executive Search & Selection is one of the premium consultancies and part of ICAP People & Employment Solutions, the largest HR Services Provider in Greece, Cyprus and Romania. With more than 50 years of experience, we specialize in assessing and recruiting Senior to Middle Level Executives across all sectors.

ICAP Executive Search, on behalf of a well-established insurance organization that is part of a leading group of companies, is seeking to appoint an experienced and dynamic professional for the following position, based in Thessaloniki:

Director of Actuarial & Risk Management – Insurance (6291/DARM/ESS/GR)

The Role

The Director of Actuarial & Risk Management will provide leadership and oversight across the Company’s actuarial and risk management activities, supporting the effective management of risk and regulatory requirements.

The role requires strong analytical, leadership and stakeholder management skills, combined with the ability to work closely with senior management and relevant internal and external stakeholders.

As a senior management position, the role offers significant responsibility and visibility across the organisation.

Key Responsibilities

• Oversee and coordinate the Actuarial and Risk Management functions, ensuring effective collaboration and alignment with senior management.
• Ensure the effective operation of the Company’s Risk Management Framework and compliance with Solvency II and the applicable insurance regulatory framework.
• Coordinate key actuarial, risk and regulatory processes, including ORSA and regulatory reporting requirements.
• Manage key actuarial activities, including technical reserves, pricing and actuarial analysis, as applicable to the Company’s business.
• Monitor the Company’s risk profile, supporting the identification, assessment, mitigation and reporting of key risks.
• Maintain effective relationships with the Bank of Greece, other supervisory authorities and external auditors.
• Provide senior management and the Board with relevant analysis, insights and recommendations on actuarial, risk and regulatory matters.
• Collaborate closely with Finance, Underwriting, Compliance, Internal Audit and Legal to ensure an integrated approach to risk and regulatory requirements.
• Monitor regulatory developments and support the implementation of relevant changes across the organisation.
• Drive the continuous improvement of actuarial, risk management and regulatory frameworks and processes.

Candidate Profile

• University degree in Mathematics, Statistics, Actuarial Science, Economics or Finance. A Master’s degree is highly desirable.
• Professional certification such as FIA, FRM, PRM, CFA or equivalent will be considered an advantage.
• 5+ years of relevant professional experience within the insurance sector, in a leadership role within Actuarial and/or Risk Management.
• Excellent knowledge of Solvency II, ORSA and the Greek insurance regulatory framework.
• Experience in interacting with supervisory authorities, particularly the Bank of Greece, and external auditors.
• Familiarity with actuarial software such as Prophet, MoSes, R or Python, and with quantitative methods and risk modelling tools.
• Excellent command of English.
• Strong analytical and problem-solving skills, with the ability to assess complex actuarial and risk matters.
• Excellent communication and stakeholder-management skills, with the ability to present complex technical matters effectively to the Board and non-technical stakeholders.
• Strong leadership and people-management capabilities, combined with integrity and independent judgement.

The Company Offers

• A competitive remuneration and benefits package.
• A senior leadership role within a well-established insurance organisation.
• Strong exposure to senior management, the Board and key regulatory stakeholders.
• Opportunities for continuous learning, professional development and career growth.
• Potential for broader executive responsibilities and career progression based on experience and performance.

All applications will be treated with the strictest confidentiality.

In full compliance with the EU Pay Transparency Directive (EU) 2023/970, please note that the applicable salary range defined by our client for this role will be disclosed to candidates by our consulting team within a reasonable timeframe before the interview process begins.