Contract roles for Actuaries in Ireland
The growth in the demand for actuarial contractors in Ireland over the past 4 years has been phenomenal. This growth mirrors the global trend in the use of contractors for most areas of professional work. Companies use contractors because it gives them a flexible workforce and quick access to specialised actuarial skills when needed. With the demand for actuaries high, it can sometimes be difficult to find the right individual for a permanent role. Engaging an actuary as a contractor in the short term can be an interim solution. Using contractors does not increase headcount. Whilst contract actuaries may seem like an expensive option, they are typically accounted for outside of payroll costs, and are paid for by different budgets.
A large proportion of contract jobs for actuaries have been focused on IFRS17 projects. Some Insurance companies are going through a complete systems redesign and the resultant contract roles are long term positions. Some companies are sourcing their IFRS17 projects with their own staff and backfilling BAU roles with actuarial contractors. There is also a steady flow of maternity leave roles.
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Employers
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