Actuarial Manager, IFRS17

  • 37726
  • Life - Actuarial
  • |
  • Hong Kong, Hong Kong
  • |
  • Jul 13, 2020
Insurance
RESPONSIBILITIES
  • Develop a good understanding of the IFRS 17 standard and the company position papers, along with interpretation adopted by other country units and the wider industry.
  • Work closely with Finance to support defining and documenting local IFRS 17 reporting and disclosure requirements.
  • Work closely with Finance to understand and develop transition logistics.
  • Work closely with external vendors and actuarial modelling team to implement actuarial model for IFRS 17 reporting.
  • Assist in undertaking a dry run for the above.
  • Thereafter help in a smooth implementation of the new requirements.
  • Help the wider business to understand the strategic impacts on the new standard, including the impact upon KPIs and other metrics.
  • Work on ad-hoc tasks and on other workstreams, such as policy & interpretation, modelling transformation, etc within the set-up of a fluid project structure.
  • Assist the Chief Actuary and IFRS 17 team to work closely with external or internal auditors and regulators.
  • With support from the Chief Actuary and IFRS 17 team, develop and present findings to senior management on the above.
QUALIFICATIONS
  • 7-10 years’ relevant experience in life insurance industry. Financial reporting experience is a plus.
  • Qualified actuary, holding credentials from a recognized actuarial body.
  • Actuarial modelling skills.
  • Experience in regulatory frameworks e.g. local statutory, IFRS, US GAAP, or other.
  • Strong familiarity with products, data, systems and processes.
  • Strong background of working on new initiatives / implementations.
  • Experience in working on a project basis with cross-functional / external vendor involvement.
  • Track record of visualising and devising processes for pulling together data/analyses from different sources for implementation of new accounting or regulatory changes.
  • Experience / knowledge in financial reporting, economic capital and/or risk-based capital framework.
  • Strong track record of working collaboratively with cross-functional stakeholders, especially Finance and IT.
  • Strong knowledge of design of data and information processes including control environment.
  • Ability to work independently and responsibly.
  • Ability to think on their own feet and the responsibility/willingness to take ownership to make things happen.
  • Strong attention to detail and desire to produce a high-quality work product and learn.
  • Good time management and thrives working flexibly under sometimes challenging project-based timescales.
  • Ability to work in a fast-paced environment, prioritize appropriately and handle multiple tasks.
  • Effective communication skills, especially in being able to document and effectively convey moderate to complex actuarial accounting and reporting topics to cross-functional stakeholders.
  • Adaptive to ongoing changes in the accounting standard development.
  • Good problem solving & analytical skills, especially in being able to find practical solutions to implement technical concepts.
  • Strong desire to learn by working on project based new developments.
  • Desired:
  • Familiarity with IFRS 17.
  • Experience in financial reporting, actuarial audit and/or consulting.
  • Experience in undertaking economic valuation approaches.
  • Proven experience of leading project-based modelling or change initiatives, including managing relationships with external vendors and cross-functional stakeholders.
  • Track record of presenting and defending analysis to Group/Regional office, external auditors and senior cross-functional stakeholders
  • Ability to contribute, with limited supervision, to the implementation of the Company’s frameworks / new initiatives
  • Working effectively and cooperatively with others, establishing and maintaining good working relationships.
  • Clearly conveying information and ideas through a variety of media to individuals and groups, verbally and in writing, in a manner that engages the audience and helps them understand and retain the message.
  • Able to engage and influence cross functional and external stakeholders and manage a balance between potentially conflicting priorities/considerations.
  • Ability to proactively identify and initiate actions required for the company to achieve its capital and ALM requirements.
  • A team player with excellent interpersonal skills to work across multiple disciplines.