Liability Valuation Actuary

This 15 month contract sits within the actuarial function. The role is involved in all aspects of financial reporting for specific business lines, working closely with the senior members of the Actuarial Function and Risk Management teams and reporting directly to the Head of Actuarial Reporting.
 
Main activities:
Reviewing and challenging of quarterly reporting results across various valuation bases including Solvency II and IFRS17. The Liability Valuations team and Capital Risk Management team will work closely with you, where proposals on efficiency improvements is expected.
 
Reporting:

• Solvency II Short Term Economic Capital (STEC) calculations and related analysis used in CBI reporting, including Pillar III QRTs and NSTs, internal reporting to ExCom and Board Reporting and other Group Reporting requirements.
• Other ad hoc quarterly Capital calculations as required such IFRS Risk adjustment and parametric function validation etc.
• Solvency monitoring.
• Preparation of data, data quality checking, implementation of internal controls.
• Documentation of procedures and processes.
• Contribute to internal and external Audit processes as required.
• Identifying potential synergies and optimization of resources between both Liability and Capital Valuation teams.

ORSA:

• Production of Group and Local ORSA runs and balance sheet aggregation using scenarios prescribed by the Risk function.
• Continually challenge the ORSA process to identify ways to make it more streamlined.

Other:
 
Engagement with IMR, CBI on internal model appropriateness and Internal/External auditors as required.

• Capital management planning and Strat Plan STEC calculations.
• Assist Capital Management with annual model validation exercise as required.
• Ad hoc capital calculations as required e.g. dividend proposals, EIOPA requests etc.

Projects:
 
Support the HoAF and CRO in projects to meet the business needs, examples include potential risk mitigation projects.
 
Skills and Experience:

• Qualified Actuary, with at least 3 years’ post qualification experience in the life industry.
• Experience of Solvency II, IFRS17 and local GAAP. Experience in IFRS17 is a necessity.
• Experience of stochastic modelling and sophisticated cash flow modelling systems.