• Contract
  • Ireland
  • Ref No: J6504
  • Qualification: Nearly/Newly Qualified
    Qualified

The IFRS17 Financial Optimisation team have a key role to play in successful implementation of the new accounting standard. This role offers the opportunity to work on a large programme delivering fundamental changes to the way in which IFRS results are presented and gain an understanding of the implications

The Financial Optimisation team has responsibility for Transition, Financial impact assessment & support with FP&A. This role would support the Transition activity.

There are three methods that can be used to calculate the CSM – we need to interpret the IFRS17 standard and create robust calculation methods that are:
• Compliant with the standard and will be approved by external audit partners
• simple and cost effective
• consistent with the commercial objectives of the client

The individual will be specifically required to:
• Calculate CSM figures across a range of products in line with agreed controls. An iterative approach will be used to move from indicative figures to final, audit-standard figures as IFRS17 adoption nears
• Understand the advantages and disadvantages of the methods and influence others to achieve a balance between accuracy and simplicity
• Exercise actuarial judgement to produce interim figures that are fit-for-purpose without undue effort
• Contribute to documents and papers used to secure approval from IFRS17 governance bodies and external auditors.

Skills/Experience:
Qualified actuary (or equivalent by experience) with understanding of financial reporting metrics for Life business. An awareness of the IFRS 17 standard would be advantageous but can be learned in role.
• Strong technical actuarial skills to create accurate calculation processes within agreed controls framework
• Ability to identify appropriate simplifications and working assumptions to meet interim requirements, and ability to systematically remove or agree these to reach audit quality
• Strong analytical and problem-solving skills
• Very strong interpersonal skills, including an ability to work across sites and a willingness to work with colleagues from across the Group
• Good communication skills – ability to communicate with stakeholders up to HoF level to understand their requirements and to explain implications of decisions. Clarity of written communication is especially important in order to document decisions and processes
• Ability to work independently and on own initiative and knowledge of when to escalate

For further information, please contact [email protected] or +35316099404.

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Tagged as: Life Insurance, Systems

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