Lead IFRS17 Actuary

Beazley; London; Hybrid; GBP 65,000 - 95,000; Full time

Job summary

An established industry player is seeking a Lead Actuary for IFRS17 to manage the actuarial team responsible for valuation processes. This role offers the opportunity to lead improvements in IFRS17 governance, analytics, and reporting while fostering a collaborative and innovative work environment. The ideal candidate will possess strong analytical skills, a deep understanding of actuarial principles, and the ability to inspire a high-performing team. Join a diverse and flexible workplace where your contributions will drive excellence in risk management and insurance solutions.

Benefits

Flexible working hours

Collaborative work environment

Diversity and inclusion initiatives

Professional development opportunities

Qualifications

• Experience in IFRS17 and reserving is essential.
• Strong analytical skills and attention to detail required.
• Ability to manage and inspire a high-performing team.

Responsibilities

• Oversee actuarial assumptions for IFRS17 calculations.
• Ensure governance around IFRS17 processes is maintained.
• Support junior team members in their development.

Skills

General commercial and financial knowledge

MS Excel

VBA

Access/SQL skills

Reserving and IFRS17 Technical knowledge

Strong analytical skills

Effective communication skills

Team management

Time management

Motivational skills

Education

University degree in Mathematics or related field

Qualified Actuary

Tools

Psicle

Job description

General

Job description and person specification

Job Title: Lead Actuary - IFRS17

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.

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:

Responsibility for the day-to-day management of the actuarial team responsible for the calculation engine of Beazley’s IFRS17 Valuation. Providing leadership in relation to the ongoing improvement of IFRS 17 processes, governance, analytics and reporting.

Key Responsibilities

• Oversee all aspects of actuarial assumptions required for the IFRS17 calculations
• Oversee all actuarial aspects of IFRS17 Reporting & Analytics
• Ensure governance around actuarial IFRS17 processes is maintained with clear responsibilities set within the Actuarial team
• Liaise effectively with other Finance stakeholders on IFRS17 actuarial matters
• Coordination, planning and delivery of all actuarial calculations performed by the IFRS17 Calculation Engine
• Technical expertise in the IFRS 17 calculation engine and support implementation and testing of any changes
• Identify and implement IFRS17 process improvements and future requirements
• Ensure the necessary documentation is maintained for the various tools used for the IFRS17 calculations within Group Actuarial
• 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 IFRS17
• Identify opportunities and deliver improvements in the IFRS17 valuation processes and methodologies
• Keep abreast of industry best practice, new initiatives, and changes in regulatory requirements
• Supporting 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 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
• Qualified Actuary preferred.

Skills and Abilities

• General commercial and financial knowledge
• Experienced user of MS Excel; VBA and Access/SQL skills desirable
• Reserving and IFRS17 Technical knowledge; Solvency 2 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 able to 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 IFRS17 experience; Lloyd’s market knowledge desirable
• Detailed knowledge of actuarial valuation techniques, including those used within pricing and capital modelling
• Detailed knowledge of reinsurance and its impact on reserving
• People management experience preferred
• Psicle experience highly advantageous

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