SII, IFRS17 & Projects Actuarial Consultant / Analyst

The key purpose of the role is to be part of the team that prepares, analyses, calculates, improves, validates and reports on all Solvency II/UK and IFRS17 aspects of their reserves and technical provisions outside the actuarial analysis

Responsibilities

Contribute to all quarterly and annual deliverables. Support the Actuarial Manager in ensuring that the SII/UK and IFRS17 recommendations meet the required external standards and internal policies, and are booked accordingly with the relevant controls completed. Responsible for explaining the P&L and balance sheet impacts of this work; Solvency II technical provision data, assumptions, and calculations, for example: payment patterns, discounting, ENIDs, risk margin, reinsurance default, contract boundaries, reinsurance treaty costs, investment expenses, premium provisions, BBNI; Many IFRS17 items will be consistent to those for SII/UK (e.g. ENIDs, payment patterns), but there are other IFRS17 specific requirements under the accountability of this team such as: discounting and split between build/unwind/MYA, PAA eligibility tests, onerous contracts, risk adjustment, IFRS17 finance reconciliations, IFRS17 reporting, GMM requirements; Corporate Actuarial support for IFC and UK&I Projects (e.g. acquisitions, reinsurance, IFC strategic priorities, ad-hoc actuarial analysis, cost-benefit analyses)

Requirements

Appropriate actuarial training, qualification and experience commensurate to the expectations set out in duties for Consultants and Analysts; The job holder should possess a good understanding of the business area they are responsible for and wider industry hot topics; Credibility to operate in support of the UK Actuarial leaders, work as part of an effective team, and to drive continuous improvement; Relationship and trust building with senior actuarial colleagues and the business is paramount