Lead Actuary - IFRS 17 in Birmingham

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 handling 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 budgeting/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 necessary documentation is maintained for the various tools used for the IFRS 17 calculations.
• Ensure the team delivers on ad‑hoc projects assigned to them.
• Build and maintain constructive working arrangements with key stakeholder groups.
• Identify opportunities and deliver improvements in the IFRS 17 valuation processes and methodologies.
• Keep abreast of industry best practice, new initiatives and regulatory changes.

Requirements:

• Support junior team members in learning and development, delegation, and workflow planning.
• Undertake applicable professional, technical and career development training (internally and externally completed).

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, competent user of MS Excel.
• Background in operating large code bases with ability to maintain and extend existing code; knowledge of SAS and SQL preferred.
• General commercial and financial knowledge.
• Experience in analytics/visualisation tools.
• Solvency UK / III Technical Provision knowledge beneficial.
• Strong analytical skills, attention to detail, accurate and numerate.
• Excellent communication skills, both verbal and written, at all stakeholder levels.
• Ability to manage a high‑performing team and work independently.
• Strong time‑management, meeting deadlines and prioritising abilities.
• 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 pricing and capital modelling.
• Solvency UK / III experience beneficial.
• Detailed knowledge of reinsurance and its impact on reserving.
• People management experience preferred.
• PSICLE experience beneficial.

Aptitude and Disposition:

• Outcome focused, self‑motivated, flexible and enthusiastic.
• Professional, capable of interacting with a variety of stakeholders including senior management, colleagues and external suppliers.
• Diplomatic; collaborative.

Competencies:

• Achievement orientation.
• Problem solving.
• Analytical thinking.
• Conceptual thinking.
• Information seeking.
• Customer focus.
• Team working.
• Initiative.
• Using expertise.
• Integrity.
• Impact and influence.

Workplace Expectations: All interactions, both internally and externally, must reflect Beazley core values – Being Bold, Striving for Better, and Doing the Right Thing – fostering teamwork and promoting a positive brand image and experience for external customers. Employees are expected to:

• Comply with Beazley procedures, policies and regulations, including the code of conduct.
• Undertake training on Beazley policies and procedures as delivered via e‑learning or the learning management system.
• Display business ethics that uphold the interests of all customers.
• Ensure all interactions with customers deliver fair outcomes and the right products for their needs.
• Adhere to specific responsibilities as outlined by line managers and compliance teams.
• Keep up to date with developments in underwriting control standards, claims control standards and other Beazley and customer relationship management standards.
• Carry out additional responsibilities as individually notified, such as membership of working groups or committees.