Head of IFRS 17 & PBR Development 2

Head of IFRS 17 & PBR Development Frederick, MD, 21701 ref

Overview

Responsible for project execution and oversight of internal & external assigned resources in the aggressive completion of the conversion of existing valuation and projection models to GGY Axis including the implementation of IFRS 17 (International Financial Reporting Standard) and PBR (Principle-Based Reserving) reporting requirements. Effort will potentially require parallel model building, and expected results creation for In-force business for all legal entities and associated captive reinsurance arrangements, and leading the validation of all model components being built. Provide appropriate analysis and insights to facilitate decision making for LGA leadership, and represent team’s interests in all IFRS 17 methodology decisions with parent. Provide review and analysis of impacts for all model purposes including valuation, financial planning, capital strategies, cash flow testing, financial reporting, pricing and others as appropriate.

Responsibilities

Support the VP & Corporate Actuary and the Valuation Actuary in the timely execution of corporate actuarial deliverables to support IFRS 17 and PBR implementation. These deliverables encompass, managing outside resources, Axis model development, model review & analysis, model governance and control, and other work efforts as determined by leadership to support Group’s approach to IFRS requirements.
Liaise with model development, valuation, finance, investment modeling, financial planning, controller, & IT to ensure models built using GGY Axis, Excel, or other software components are fit for the intended purpose and built according to the agreed model specifications. The model review methods should have diligence commensurate with the materiality and risks associated with the model purpose and may require a parallel build on an alternative platform.
Review production metrics as needed for accuracy and to ensure appropriate controls and validation has been performed. Be able to understand the movements in these metrics, and be able to relate movements back to underlying models.
Ensure required model reviews are performed and documented in a timely manner to satisfy all reporting and analysis obligations and to ensure sufficient time for model validation, user acceptance testing, MRCF model governance requirements, and all LGA policies and procedures.
Perform appropriate sensitivities on models as requested.
Help to automate procedures and processes outside of the actuarial modeling software (MG-Triton, MG-Alfa & GGY Axis) to enhance accuracy and efficiency.
Build and maintain custom testing models as needed to analyze movements in key metrics, and to provide expected results for testing and validation purposes.
Build/Review models for the projection of new and existing reinsurance structures with parent or external companies, and prepare comprehensive documentation as required in support of analysis.
Document and communicate clearly the results of review and analysis highlighting all potential issues to stakeholders, manager and the Chief Actuary.
Perform attribution analysis and investigation of drivers of earnings and profitability under Statutory, GAAP, Tax, IFRS, EC, SII, and EV reporting, and other analysis as appropriate.
Other duties as required.
Qualifications

Education

BS/BA Math/Statistics

Fellow of the Society of Actuaries

Experience/Knowledge

10+ years of life insurance & actuarial modeling experience

3+ years of leadership experience

Skills

Strong actuarial analytical skills and problem solving ability
Ability to multi-task in a deadline-oriented environment
Actuarial projection software skills in MG-ALFA, GGY Axis, and VBA
Proficient verbal and written communications
Database/Spreadsheet capabilities (Excel, MS Access, SQL, SAS)
Experience with:

Capital Markets Transactions & Financial Reinsurance preferred
Life Insurance Valuation (Term, UL, WL)
Economic Capital / Solvency II preferred
Asset Adequacy Analysis & Cash Flow Testing helpful
Statutory, Tax, GAAP, & IFRS (especially IFRS 17)
Stochastic modeling (working knowledge)

About job

Compensation:
View Salary
Referral reward:15% of base salary Job type:Direct hireJob function:FinanceIndustry:InsuranceExperience level:DirectorEducation level:Bachelor’s degreeJob classification:ProfessionalsLocation:Frederick, MDZip code:21701Skills: Excel, MS Access, SQL, SAS, actuarial, actuary, capital markets, life insuranceExperience required: 10 Years Relocation assistance:Yes
Will provide assistance for the right candidateVisa requirement:Only US citizens and Greencard holdersNumber of positions: 1

Pre screen questionnaire:

1. Do you have at 1.5 years of Life Insurance experience? Required

Must Haves:

Education

BS BA Math/Statistics

Fellow of the Society of Actuaries

Experience Knowledge

10+ years of life insurance & actuarial modeling experience

3 years of leadership experience

Skills

Strong actuarial analytical skills and problem solving ability
Ability to multi-task in a deadline-oriented environment
Actuarial projection software skills in MG-ALFA, GGY Axis, and VBA
Proficient verbal and written communications
Database Spreadsheet capabilities (Excel, MS Access, SQL, SAS)
Life Insurance Valuation (Term, UL, WL)
Statutory Tax, GAAP, & IFRS (especially IFRS 17)
Stochastic modeling (working knowledge)

Nice to Haves:

Capital Markets Transactions & Financial Reinsurance preferred
Asset Adequacy Analysis & Cash Flow Testing helpful
Economic Capital / Solvency II preferred

jonathan AT executivestaffrecruiters DOT com

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