SII, IFRS17 & Projects Actuarial Consultant / Analyst – 28993

City, London
The Emerald Group
Overview

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

• Location: London
• Category: Actuarial
• Type: Permanent

Key Duties

• 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)
• 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