IFRS 17 Actuarial Analyst

AXA UK; Birmingham; On-site; GBP 40,000 - 60,000; Full time

Job summary

AXA UK is looking for an IFRS 17 Actuarial Analyst to join their dynamic finance team, contributing to assumption generation, analysis, and reporting. The role emphasizes collaboration with various teams and requires a strong foundation in mathematics, analytical skills, and actuarial knowledge. Successful candidates will find a supportive environment focused on career development and professional growth.

Qualifications

• Degree in Mathematics or similar.
• Progressing towards actuarial qualifications.
• Strong analytical and numerical skills.

Responsibilities

• Produce IFRS 17 actuarial assumptions and support calculations.
• Maintain the IFRS 17 calculation process and document outputs.
• Assist in analytics development and process improvement.

Skills

Analytical skills

Attention to detail

Communication skills

Time management

Education

University degree in Mathematics or related field

Actuarial qualification (in progress or achieved)

Tools

MS Excel

VBA

SQL

Power Query

Job description

General

Job Title: IFRS 17 Actuarial Analyst

Division:Finance - Actuarial

Reports To:IFRS 17 Lead Actuary

Key Relationships: All Beazley actuaries, Finance, Data Management and Ceded Reinsurance teams, Claims managers, Underwriters and business managers, external actuaries/auditors.

Beazley:

Beazley is a specialist insurance company with over 30 years’ experience helping people, communities and businesses to manage risk all around the world. Our products are wide ranging from cyber & tech to marine, healthcare, financial institutions and contingency, covering risks like the weather, film production or protection from deadly weapons.

We are a flexible and innovative employer offering a friendly, collaborative, diverseand inclusive work environment. We encourage applications from all backgrounds. We empower people to choose where to work given the work that needs to be done. Collaboration in office spaces is important, but we do not mandate a set number of days in the office or from home – you decide what works best for you and the role you are in.

We have a wonderful mix of cultures, experiences and backgrounds at Beazley with over 1500 of us working around the world. Employee’s diversity, experience and passion allow us to keep innovating and moving forward, delivering the best. We hire people with wide perspectives, and we have set bold diversity targets as we work towards excellence.

Job Summary:

Working as part of the team, own the actuarial elements of the IFRS 17 assumption generation, validation, reporting and analytics for Beazley.Work with wider stakeholders to analyse the calculations and identify and implement process improvements.

Key Responsibilities:

• Produce the actuarial assumptions required for the IFRS 17 calculations, including the required governance processes.
• Run and maintain the quarterly IFRS 17 calculation process.
• Perform the necessary reconciliation checks to provide assurance on the calculation outputs.
• Work with the lead IFRS 17 actuary on specific investigations as required by leadership.
• Contribute to the improvement of the IFRS 17 calculation processes and methodologies.
• Contribute to analytics and MI development.
• Maintain the necessary documentation for the various tools used in the IFRS 17 calculations within Group Actuarial, adhering to the review requirements and obtaining the appropriate sign-offs.
• Assist the delivery of ad hoc projects.
• Support the work of external actuaries as required.
• Build and maintain constructive working arrangements with those groups identified as being key to your role.
• Operate as an effective team member by supporting colleagues and contributing in the delivery and achievement of overall team and business objectives.
• Keep abreast of industry best practice, new initiatives and changes in regulatory requirements.
• Undertake applicable professional, technical and career development training (delivered internally and externally) to include attainment of associated qualifications where required.

General

It is important that within all your interactions both internally and externally you adhere 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, the Culture & People or assurance teams (compliance, risk, internal audit) either directly, via e-learning or the learning management system
• Display business ethics that uphold the interests of all our customers
• Ensure all interactions with customers are focused on delivering a fair outcome, including having the right products for their needs
• Comply with any specific responsibilities necessary for your role as outlined by your line manager, the Culture & People or assurance teams (compliance, risk, internal audit) and ensure you keep up to date with developments in these areas. This may include, amongst others, Beazley’s underwriting control standards, Beazley’s claims control standards, other Beazley standards and customer relationship management
• Carry out additional responsibilities as individually notified, either through your objectives or through the learning management system. These may include membership of any Beazley committees or working groups

Personal Specification:

Education and Qualifications

• University degree in Mathematics or related field
• Progressing towards or recently achieved actuarial qualification

Skills and Abilities

• General commercial and financial knowledge
• Competent user of MS Excel; VBA, SQL, Power Query skills desirable
• Strong analytical skills with attention to detail; accurate and numerate
• Able to communicate effectively both verbally and in writing
• Team worker and able to work on own initiative
• Ability to manage time, work on a number of tasks in parallel, meet deadlines and prioritise

Knowledge and Experience

• Reserving experience; Lloyd’s market knowledge desirable
• Knowledge of technical provisions for Solvency II or IFRS 17 preferred
• Command of basic actuarial techniques
• Understanding of reinsurance

Aptitude and Disposition

• Outcome focused, self-motivated, flexible and enthusiastic
• Professional approach to successfully interact with team members and stakeholders

Competencies

• Achievement and solution focused
• Analytical
• Information seeking
• Stakeholder focus
• Using initiative
• Having integrity
• Taking responsibility
• Being reliable
• Attention to detail