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Job Summary: Responsible for the day-to-day operation of the actuarial team responsible for the IFRS 17 calculation engine, ensuring accurate and timely valuation outputs on a quarterly basis. Drive continuous improvement of IFRS 17 processes, governance, analytics and reporting to enhance efficiency, control and insight.
Job Responsibility
Oversee, and maintain all actuarial aspects of IFRS 17 methodologies and assumptions
Maintain strong governance over IFRS 17 actuarial processes, including model controls, validation, peer review, and audit support
Liaise effectively with other Finance stakeholders on IFRS 17 actuarial matters
Coordinate, plan and deliver actuarial calculations performed by the IFRS 17 Calculation Engine covering both actual quarterly results and quarterly budgeting / forecasting
Analyse and explain IFRS 17 results, movements, and sensitivities, including drivers of profitability and volatility
Provide technical expertise in the IFRS 17 calculation engine, supporting implementation and testing of any changes
Ensure the necessary documentation is maintained for the various tools used for the IFRS 17 calculations
Ensure team delivers on ad-hoc projects assigned to them
Build and maintain constructive working arrangements with those groups identified as being key to your role
Be a technical expert on the relevant actuarial aspects of IFRS 17
Identify opportunities and deliver improvements in the IFRS 17 valuation processes and methodologies
Keep abreast of industry best practice, new initiatives, and changes in regulatory requirements
Support junior team members in their learning and development as well as delegation and workflow planning in the delivery of the above responsibilities
Undertake applicable professional, technical and career development training (delivered internally and externally)
Requirements
University degree in Mathematics or related field
Qualified Actuary preferred
Reserving and IFRS 17 Technical knowledge required
Strong and competent user of MS Excel
Strong background in operating large code bases including the ability to maintain and add to existing code. Knowledge of SAS and SQL is preferred
General commercial and financial knowledge
Experience in analytics / visualisation tools
Solvency UK / II Technical Provision knowledge would be beneficial
Strong analytical skills with attention to detail
accurate and numerate
Ability to communicate effectively both verbally and in writing with stakeholders at all levels
Ability to manage a high performing team as well as able to work on own initiative
Ability to manage time, meet deadlines and prioritise
Ability to inspire and motivate a high performing team
Reserving and IFRS 17 experience
Lloyd’s market knowledge desirable
Detailed knowledge of actuarial valuation techniques, including those used within pricing and capital modelling
Solvency UK / II experience would be beneficial
Detailed knowledge of reinsurance and its impact on reserving
People management experience preferred
Psicle experience would be beneficial
Nice to have
Qualified Actuary preferred
Solvency UK / II Technical Provision knowledge would be beneficial