Lead Actuary - IFRS 17

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 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 the necessary documentation is maintained for the various tools used for the IFRS 17 calculations.
• Ensure team delivers on ad-hoc projects assigned to them.
• Build and maintain constructive working arrangements with those groups identified as being key to your role.
• Be a technical expert on the relevant actuarial aspects of IFRS 17.
• Identify opportunities and deliver improvements in the IFRS 17 valuation processes and methodologies.
• Keep abreast of industry best practice, new initiatives, and changes in regulatory requirements.
• Support junior team members in their learning and development as well as delegation and workflow planning in the delivery of the above responsibilities.
• Undertake applicable professional, technical and career development training (delivered internally and externally).

General: It is important that within all your interactions both internally and externally you adhere to Beazley’s core values – Being Bold, Striving for Better, and Doing the Right Thing as they contribute to an internal environment of teamwork and promote a positive brand image and experience to our external customers.

We also expect Beazley employees to:

• Comply with Beazley procedures, policies and regulations including the code of conduct.
• Undertake training on Beazley policies and procedures as delivered by your line manager.

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.
• Conceptual thinking.
• Information seeking.
• Customer focus.
• Team working.
• Initiative.
• Using expertise.
• Integrity.
• Impact and influence.