At a Glance
- Tasks: Lead the actuarial team for IFRS 17, ensuring accurate valuations and continuous process improvements.
- Company: Join a dynamic finance division with a focus on innovation and collaboration.
- Benefits: Competitive salary, professional development, and opportunities for career growth.
- Other info: Support junior team members and engage in ongoing professional training.
- Why this job: Make a real impact in the finance sector while working with cutting-edge actuarial methodologies.
- Qualifications: University degree in Mathematics; qualified actuary preferred with strong analytical skills.
The predicted salary is between 80000 - 100000 £ per year.
Job description and person specification
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.
Key Responsibilities:
- 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 budget 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 documentation is maintained for the various tools used for IFRS 17 calculations.
- Ensure team delivers on ad‑hoc projects assigned to them.
- Build and maintain constructive working arrangements with key groups.
- Be a technical expert on the relevant actuarial aspects of IFRS 17.
- Identify opportunities and deliver improvements in IFRS 17 valuation processes and methodologies.
- Keep abreast of industry best practice, new initiatives, and regulatory changes.
- Support junior team members in learning and development as well as workflow planning.
- Undertake applicable professional, technical and career development training (internally and externally).
Personal Specification:
Education and Qualifications: University degree in Mathematics or related field. Qualified Actuary preferred.
Skills and Abilities:
- Reserving and IFRS 17 technical knowledge required.
- Strong and competent user of MS Excel.
- Strong background in operating large code bases, including ability to maintain and add to existing code.
- Knowledge of SAS and SQL is preferred.
- General commercial and financial knowledge.
- Experience in analytics / visualisation tools.
- Solvency UK/II technical provision knowledge would be beneficial.
- Strong analytical skills with attention to detail; accurate and numerate.
- Ability to communicate effectively both verbally and in writing with stakeholders at all levels.
- Ability to manage a high performing team as well as work on own initiative.
- Ability to manage time, meet deadlines and prioritise.
- Ability to inspire and motivate a high performing team.
Knowledge and Experience:
- Reserving and IFRS 17 experience; Lloyd’s market knowledge desirable.
- Detailed knowledge of actuarial valuation techniques, including those used within pricing and capital modelling.
- Solvency UK/II experience would be beneficial.
- Detailed knowledge of reinsurance and its impact on reserving.
- People management experience preferred.
- Psicle experience would be beneficial.
Aptitude and Disposition: Outcome focussed, self‑motivated, flexible and enthusiastic. Professional, capable of successfully interacting with a variety of stakeholders, including senior management/colleagues/external suppliers. Diplomatic; collaborative.
Competencies: Achievement orientation, Problem solving, Analytical thinking.
IFRS 17 Lead Actuary — Strategy & Analytics in Birmingham employer: Beazley Management Limited
As a Lead Actuary for IFRS 17, you will join a dynamic and supportive team that values continuous improvement and professional development. Our company fosters a collaborative work culture where your expertise will be recognised and your contributions will directly impact our financial strategies. Located in a vibrant area, we offer competitive benefits, opportunities for career advancement, and a commitment to maintaining a healthy work-life balance, making us an excellent employer for those seeking meaningful and rewarding employment.
Contact Details:
Beazley Management Limited Recruitment Team
StudySmarter Expert Advice🤫
We think this is how you could land IFRS 17 Lead Actuary — Strategy & Analytics in Birmingham
✨Tip Number 1
Network like a pro! Reach out to your connections in the actuarial field, especially those who work with IFRS 17. A friendly chat can lead to insider info about job openings or even a referral.
✨Tip Number 2
Prepare for interviews by brushing up on your technical knowledge. Be ready to discuss IFRS 17 methodologies and showcase your analytical skills. We want to see how you can drive improvements in processes!
✨Tip Number 3
Showcase your leadership skills! If you've managed teams before, highlight your experience in inspiring and motivating high-performing teams. This is key for the Lead Actuary role.
✨Tip Number 4
Don't forget to apply through our website! It’s the best way to ensure your application gets noticed. Plus, we love seeing candidates who take that extra step to connect with us directly.
We think you need these skills to ace IFRS 17 Lead Actuary — Strategy & Analytics in Birmingham
Some tips for your application 🫡
Tailor Your CV:Make sure your CV is tailored to the Lead Actuary role. Highlight your IFRS 17 experience and any relevant technical skills, like your proficiency in MS Excel or knowledge of SAS and SQL. We want to see how your background aligns with what we're looking for!
Craft a Compelling Cover Letter:Your cover letter is your chance to shine! Use it to explain why you're passionate about the role and how your experience can drive continuous improvement in our IFRS 17 processes. Keep it concise but impactful – we love a good story!
Showcase Your Analytical Skills:Since this role requires strong analytical skills, make sure to include examples of how you've used these skills in past roles. Whether it's through data analysis or problem-solving, we want to see how you tackle challenges head-on!
Apply Through Our Website:Don't forget to apply through our website! It’s the best way for us to receive your application and ensures you’re considered for the position. Plus, it shows us you're keen on joining the StudySmarter team!
How to prepare for a job interview at Beazley Management Limited
✨Know Your IFRS 17 Inside Out
Make sure you brush up on your IFRS 17 knowledge before the interview. Understand the methodologies, assumptions, and the calculation engine inside and out. Being able to discuss specific examples of how you've applied this knowledge in past roles will show that you're not just familiar with the theory but can also implement it effectively.
✨Showcase Your Analytical Skills
Prepare to demonstrate your analytical prowess during the interview. Bring along examples of how you've analysed IFRS 17 results or tackled complex actuarial problems. This could be through case studies or even a presentation if appropriate. Highlighting your attention to detail and ability to communicate findings clearly will set you apart.
✨Build Relationships with Stakeholders
Since the role involves liaising with various teams, think about how you can showcase your relationship-building skills. Prepare anecdotes that illustrate how you've successfully collaborated with finance stakeholders or managed cross-functional projects. This will help the interviewers see you as a team player who can navigate complex relationships.
✨Demonstrate Leadership Potential
Even if you're not in a formal leadership role yet, think about times when you've inspired or motivated others. Be ready to discuss how you've supported junior team members or led projects. Showing that you have the capability to manage a high-performing team will resonate well with the interviewers.
