Lead Actuary - IFRS 17

Job description and person specification

Lead Actuary – IFRS 17

Finance

Head of Actuarial for IFRS 17

• IFRS 17 Actuarial team, Actuarial Reserving / Reporting and Group Actuarial, Finance, Data and Ceded Reinsurance teams, Claims managers, Underwriters and business managers, Lloyd’s, external actuaries and auditors.

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.

• 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 budget 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 documentation is maintained for the various tools used for IFRS 17 calculations.
• Ensure team delivers on ad‑hoc projects assigned to them.
• Build and maintain constructive working arrangements with key groups.
• Be a technical expert on the relevant actuarial aspects of IFRS 17.
• Identify opportunities and deliver improvements in IFRS 17 valuation processes and methodologies.
• Keep abreast of industry best practice, new initiatives, and regulatory changes.
• Support junior team members in learning and development as well as workflow planning.
• Undertake applicable professional, technical and career development training (internally and externally).

• 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 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 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.

• Outcome focussed, self‑motivated, flexible and enthusiastic.
• Professional, capable of successfully interacting with a variety of stakeholders, including senior management/colleagues/external suppliers.
• Diplomatic; collaborative.

• Achievement orientation
• Problem solving
• Analytical thinking