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General
Job Description And Person Specification
Job Title: 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 calculationengine, 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
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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, 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
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committees or working groups
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 the 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 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 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
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