Product Development Actuary – Life & Savings

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Product Development Actuary - Life & SavingsCountry: Spain

Santander (www.santander.com) is evolving from being a high-impact global brand to a technology-driven organization, and people are at the center of this journey. Together, we are leading a customer-centric transformation that values disruptive thinking, the courage to challenge the possible, and the ability to innovate.

This is more than a strategic shift: it's an opportunity to grow, learn, and make a real impact.

Our mission is to help more people and businesses prosper. We embrace a strong risk culture and expect all our teams to take a proactive and responsible approach to risk management.

Wealth Management & Insurance spans three businesses across all Santander countries: Insurance, Asset Management, and Private Banking. We work to deliver the best solutions to our clients in these three areas across the 10 countries where we operate.

Santander Insurance is looking for a Life Actuary based in Juan Ignacio Luca de Tena (Madrid)

As an Actuary, your mission will be to participate in the design, development, and monitoring of life insurance products managed by the entity. The role aims to drive the launch of new products and the evolution of existing ones, as well as improve processes and digitalization, optimizing the customer experience.

We are redefining the way we work through innovation, cutting-edge technology, collaboration, and the freedom to explore new ideas.

In this role, your main responsibilities will include:

-Product design, implementation, and maintenance: design and development of new products; technical, actuarial, and profitability analyses; preparation and maintenance of product-related documentation; definition of technological requirements and coordination with the different areas for product launches, as well as the implementation of modifications, new functionalities, and regulatory changes.

-Digitalization and process improvement: Participation in digital transformation projects aimed at improving the customer experience; definition of functional requirements for the automation and digitalization of processes associated with the product lifecycle; collaboration in simplification initiatives

- Technical governance and regulatory compliance: Analysis and monitoring of products to ensure compliance with applicable regulations; technical reviews and product governance processes; analysis of key business indicators: claims ratio, lapses, surrenders, value for money...; proposals and implementation of necessary measures.

• More than 10 years of experience in the life insurance sector, mainly in savings life insurance

• Actuarial and Financial Sciences

Technical skills (Hard skills)

• Practical experience in savings life insurance, technical features, pricing, profitability analysis, financial knowledge. Mastery of insurance regulations applicable to the insurance business (IDD, PRIIPs, RIS), and insurance taxation

• Python, SQL, Excel

• Power BI and other data analysis and automation tools.

Interpersonal skills (Soft skills)

Analytical and critical thinking, communication skills, synthesis capacity, problem-solving, teamwork, assertiveness, and adaptability.

Your contribution matters, and we recognize it. At Santander, you can expect a fair and competitive compensation package that reflects your impact and the value you bring. Take a moment to understand what we mean:

• We offer more than just a salary: our benefits are designed to support your life, your goals, and your well-being, today and in the future

• Your health is our priority. Through BeHealthy, our global wellness program, we promote the comprehensive well-being of our teams

• We know family comes first. That's why we offer support for childcare and family programs adapted to every stage of life

• We empower our teams to go further through growth opportunities, international mobility, and broad career paths

• We believe in the power of helping: you can dedicate part of your working day to volunteering

We are here to keep you motivated, help you achieve your goals, and celebrate your achievements at every step of the way.

Santander is proud to be an organization that provides equal opportunities regardless of age, gender, disability, marital status, race, religion, or sexual orientation. We are committed to providing an inclusive and accessible application process for all candidates.

If this sounds like a role that interests you, please apply.