Lead Actuary - IFRS 17

Overview

This job is with Beazley, an inclusive employer and a member of my Gwork – the largest global platform for the LGBTQ+ business community. Please do not contact the recruiter directly.

Job Title: Lead Actuary – IFRS 17

Division: Finance | Reports To: Head of Actuarial for IFRS 17

Key Relationships: 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.

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.

• 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 the team delivers on ad-hoc projects assigned to them.
• Build and maintain constructive working arrangements with groups identified as key to the 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).

It is important that within all your interactions both internally and externally you adhere to Beazley’s core values - Being Bold, Striving for Better, and Doing the Right Thing as they contribute to an internal environment of teamwork and promote a positive brand image and experience to our external customers.

External Responsibilities:

• Comply with Beazley procedures, policies and regulations including the code of conduct.
• Undertake training on Beazley policies and procedures as delivered by your line manager, the Culture & People or assurance teams (compliance, risk, internal audit) either directly, via e-learning or the learning management system.
• Display business ethics that uphold the interests of all our customers.
• Ensure all interactions with customers are focused on delivering a fair outcome, including having the right products for their needs.
• Comply with any specific responsibilities necessary for your role as outlined by your line manager, the Culture & People or assurance teams (compliance, risk, internal audit) and keep up to date with developments in these areas. This may include Beazley’s underwriting control standards, Beazley’s claims control standards, other Beazley standards and customer relationship management.
• Carry out additional responsibilities as individually notified, either through your objectives or through the learning management system. These may include membership of Beazley committees or working groups.

• University degree in Mathematics or related field.
• Qualified Actuary preferred.

• Reserving and IFRS 17 technical knowledge.
• Strong and competent user of MS Excel.
• Experience with large code bases; ability to maintain and add to existing code. Knowledge of SAS and SQL…