Description
The IFRS17 Actuary - CSM sits within the Group Insurance IFRS17 programme.
The IFRS17 Actuary - CSM team are responsible for delivering the target operating model, systems and processes to enable each of the insurance entities within the group to meet the requirements of IFRS17 reporting. Within the programme, the CSM Platform Workstream has responsibility for delivering the CSM Platform which is a new platform that allows each entity to calculate and track the contractual services margin at the required level of granularity. The IFRS17 Actuary CSM Platform Workstream is a multi-disciplinary team comprising actuaries, project managers and business analysts and works closely with the actuarial and finance functions of each of the entities in-scope.
The primary goal for the IFRS17 Actuary - CSM is to support the design, delivery, testing and roll-out of the CSM Platform.
The IFRS17 Actuary - CSM key responsibilities will be:
- Good understanding of the IFRS17 - CSM standard and in particular, the key mechanics of how the CSM calculation works
- Ability to understand the design and architecture of HSBC's CSM Platform
- Ability to organise, run and support IFRS17 workshops with different HSBC Entities
- Ability to clearly describe the Global IFRS17 technical requirements from each Entity
- Liaise and co-ordinate with third-party test teams to carry out testing, review findings and undertake remediation where necessary
- Assist in the development of a global test pack, to give confidence on the actuarial, accounting and technological capabilities of the Global Platform.
- Performing IFRS17 dry runs, and presenting back the findings on key results and issues found
- Collate questions about the IFRS17 results being produced, constructively with entities to remediate
- Delivery of the CSM platform to enable IFRS17 reporting
The IFRS17 Actuary - CSM will have experience in:
- Good understanding and ideally first-hand experience of IFRS17 including an understanding of the mechanics of how the Contractual Services Margin works
- Knowledge of Actuarial Modelling Software (eg Prophet/MoSes), familiarity with database concepts; Proficiency with MS Office (Word, Excel and VBA, and PowerPoint).
- Good knowledge of insurance products, regulations and financial reporting
- Good knowledge of insurance industry good practice around modelling risk management
- Experience of developing and implementing enterprise risk management
- Sound understanding of insurance modelling methodologies and techniques, including liability modelling, ESGs and ALM, capital modelling, projections
- Experience of interfacing with Audit and Regulators an advantageAbility to communicate information in a clear, confident and structured manner to all levels within the programme.
- Ability to influence stakeholders, to establish and maintain co-operation.
If you are interested in the IFRS17 Actuary - CSM opportunity please apply for the role.