IFRS 17 Corporate Actuary – SA1005
Our client is searching for a nearly or newly qualified actuary with strong reserving and reporting experience to join the team. The focus of the role will involve actuarial modelling in line with IFRS 17 requirements as well as data collection and analysis.
Responsibilities will include:
- Take ownership of the Modelling workstream within the IFRS 17 implementation project:
- Performing modelling gap analyses
- Designing appropriate PAA & GMM valuation methodologies suitable to niche products.
- Model development and improvement
- Model maintenance and release including process change management
- Determining, recording, and updating key actuarial assumptions
- Drafting PAA eligibility methodologies and processes
- Performing financial impact assessments
- Work closely with the other workstream owners to ensure an effective and efficient IFRS 17 implementation
- Work with other data and system development teams to leverage off existing data and automation initiatives
- Look for areas of improvement and alignment between prudential and IFRS 17 reporting processes
- Assessment and drafting of IFRS 17 accounting policies and implementation guidelines
- The design, set up and documentation of the IFRS 17 modelling processes to meet reporting needs, with a focus on governance and controls
- Applying an innovative mindset to aspects such as automation, validation, efficiency, and controls. This includes the design of cash flow engines and assumption setting processes.
- Assessing, rating, and implementing various vendor or build solutions in partnership with IT and Finance.
- Liaise with actuarial, IT and Finance department to prepare for IFRS17 transition, including data extraction and calculation.
- Sign-off of actuarial valuation calculations within the normal financial reporting cycle
- Work with divisions to enhance and improve actuarial modelling and reporting processes under business as usual conditions
- Work with financial reporting teams both actuarial and finance to ensure analytical capabilities required for managing the business under IFRS 17
- Develop or oversee the actuarial assumptions to use in actuarial financial reserving
- Communicate actuarial analyses and results to business unit management as well as senior-level executives
For more information, please contact Wilhelm ([email protected] or +27 (0)82 823 9978)