IFRS 17 Lead Actuary — Strategy & Analytics in London

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.