Actuarial Analyst at Santander

Boadilla del Monte, Community of Madrid, Spain

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Not SpecifiedCompensation

Junior (1 to 2 years)Experience Level

Full TimeJob Type

UnknownVisa

Insurance, Wealth Management, BankingIndustries

Requirements

At least 5 years of professional experience in actuarial, risk management, or audit within the insurance industry or consulting (Required)
Bachelor’s or master’s degree in actuarial science, Mathematics, Statistics, Economics, or related field (Required)
Advanced actuarial or financial qualifications (Preferred)
English (Required)
Strong knowledge of Solvency II framework (Pillars I, II, and III)
Proficiency in actuarial modeling and statistical techniques
Experience with actuarial tools and programming languages (R, Python, SAS, Prophet, etc.)
Strong data management skills (Microsoft Power BI, Google Data Analytics, SQL certifications, etc.)
Strong analytical and problem-solving skills
High attention to detail and accuracy
Ability to communicate complex actuarial topics clearly to both technical and non-technical stakeholders
Commitment to regulatory compliance and continuous improvement

Responsibilities

Assist in the calculation, consolidation, and review of technical provisions in line with Solvency II requirements, contributing to the validation of methodologies, assumptions, and actuarial models applied
Ensure quality, accuracy, and traceability of actuarial data and processes
Support the issuance of actuarial opinions on the underwriting and reinsurance programs
Analyze the consistency of technical provisions with Solvency Capital Requirement (SCR) and Minimum Capital Requirement (MCR)
Collaborate with the Risk and Capital teams to ensure alignment between technical provisions and capital requirements (SCR and MCR)
Provide actuarial input to the Group ORSA process, including scenario analysis, stress testing, and projection of solvency positions
Contribute to the assessment of emerging risks and their potential impact on the group’s solvency position
Contribute to actuarial reports for regulatory authorities and internal governance bodies
Support data management projects within the department (KRI/KPI dashboards, data analytics, Artificial Intelligence projects, etc.)
Collaborate on risk management initiatives (operational, market, credit, …)

Skills

Key technologies and capabilities for this role

Solvency IIActuarial ModelingTechnical ProvisionsRisk ManagementSCRMCRORSAStress TestingReinsuranceScenario Analysis

Questions & Answers

Common questions about this position

What professional experience is required for the Actuarial Analyst role?

At least 5 years of professional experience in actuarial work is required.

Is this a full-time position?

Yes, this is a full-time employment position.

Where is the Actuarial Analyst position located?

The position is located in Spain.

What does the company culture emphasize at Santander?

Santander values bold thinking, innovation, courage to challenge possibilities, a strong risk culture, collaboration, and empowering individuals to contribute unique perspectives.

What key responsibilities make a strong candidate for this role?

Strong candidates will have experience assisting with Solvency II technical provisions, ensuring data quality, supporting actuarial opinions, analyzing capital requirements, and contributing to risk management and reports.

Santander

Provides banking, investment, and insurance services

About Santander

Santander Bank provides a variety of financial services to individuals, small businesses, and large corporations in the United States. Its offerings include savings and checking accounts, loans, credit cards, and investment products. The bank also has specialized services through Santander Investment Services and insurance products via Santander Securities LLC. Santander stands out from its competitors by focusing on community growth, committing $13.6 billion to support initiatives like the 'Cultivate Small Business' program, which aids early-stage entrepreneurs, especially from underrepresented groups. The bank generates revenue through interest on loans, service fees, and commissions, while promoting responsible banking practices and financial education. Santander's goal is to empower individuals and businesses, enhance community prosperity, and provide comprehensive financial solutions.

Boston, MassachusettsHeadquarters

1902Year Founded

$75MTotal Funding

POST_IPO_DEBTCompany Stage

Fintech, Financial ServicesIndustries

10,001+Employees

Benefits

Health, dental, & vision

401k

Flexible PTO

Parental & sick leave

Discounts: technology, travel, auto, fitness, & tuition

Risks

ISO 20022 transition may challenge smaller business partners.

'Quishing' attacks pose a growing threat to consumer security.

Openbank faces competition in the U.S. high-yield savings market.

Differentiation

Santander's Openbank offers a 5.00% APY high-yield savings account nationwide.

The bank's Inclusive Communities Plan pledges $13.6 billion for community initiatives.

Santander's ISO 20022 adoption enhances operational efficiency and data management.

Upsides

Openbank's high-yield savings account attracts more U.S. customers.

Santander's renewable energy financing highlights commitment to sustainable investments.

Proactive cybersecurity measures enhance customer trust and protect digital assets.

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