Description
Job Scope:
The Finance Accounting & Reporting function is a highly delivery-focussed team of around 30 accountants, actuaries and reporting specialists, led by the Director of Financial Accounting & Reporting, who reports to the Group CFO. The team focuses on the end-to-end external reporting process and related controls across all financial and capital metrics.
Principal accountabilities:
The role is a unique opportunity for an individual, either a nearly or newly qualified actuary of around 5 years of relevant experience, to work in the Actuarial Reporting team within Finance Accounting & Reporting.
The role will include a mixture of development work and BAU. Key areas of work include:
- Production, validation and analysis of Group-wide Economic Capital (ECap) and Local Capital Summation Method (LCSM) results, including:
- Profit and loss attribution analysis;
- 'What-if' scenario testing;
- Group Risk Appetite testing;
- Reverse stress testing; and
- Other ad-hoc investigations.
- Business planning projections;
- Pillar 1 regulatory requirements;
- LCSM external disclosures.
- Model recalibration and analysis;
- Maintain and update a Continuous Solvency Monitoring process using output from the capital models and inputs from business units.
- Assist with reconciliation of capital results across metrics.
- Assist with ongoing development of methodology and framework.
- Regular production of capital management information.
- Provide technical support to other teams in respect of ECap/LCSM methodology and results.
- Regular engagement and support of business units (in the US and Asia).
- Support communication of results to senior management, up to plc Board level.
Core Competences Required:
- Proven reporting experience ideally with an economic capital risk metric or equivalent risk modelling framework.
- Understanding of the components of an insurance balance sheet and the risks to which insurers are exposed.
- Highly organised and enjoy working in a dynamic, fast changing environment, with a commercial and pragmatic approach.
- Ability to work under pressure and to cope with competing demands.
- Good at generating new ideas, either to make existing processes more efficient, or to create new ways of doing things (such as, in response to changing regulations or internal requirements or to optimise the Group's capital position).
- Strong IT stills in particular in Visual Studio, excel, Powerpoint.
- Strong verbal communication skills and ability to present to senior stakeholders.
- Sound analytical skills and ability to apply judgement on a consistent and well-rationalised basis.
- Ability to undertake quick, ad-hoc analyses to assess suggested improvements or answer questions which arise from reviews.
- Ability to develop relationships with stakeholders in various teams across the global business though strong interpersonal and team-work skills.
- Capability to work independently with strong self-review and attention to detail.
Education and Experience:
- Nearly/newly qualified Actuary (1 to 3 years PQE).
- Financial reporting experience ideally in a capital reporting role.