Seeking an Actuary Professional to guide and to implement International Financial Reporting Standard 17/Long Duration Targeted Improvements (LDTI) at our Insurance institution clients.
Job Description:
Under senior management s direction, conduct workshops, participate in RFP requirements analysis, effort estimation, design, model assessment and build, implement and deploy IFRS 17 application
Will Function as SME involving Knowledge of Insurance, Banking or accounting expert in one or more of the following areas:
o P&C
o Policies and processes, credit appraisal and monitoring, credit training and scoring, credit derivatives and credit portfolio management, securitization and loan approval for retail and SME, with experience in credit scoring and IT solutions.
o One should be able to analyse and provide inputs on risk rating, score card development and development, implementation and validation of quantitative models in credit, market and operational risk areas.
Review client business requirements and suggest best practices to implement LDTI solution
Work with LDTI client SMEs and accounting teams
Use prior knowledge of insurance products and experience with the typical data elements required to craft solutions for medium-to-complex business requirements.
Provide advisory services on data requirements for LDTI computation and modelling
Committed to high-quality and client service. Consistently deliver results and manage client expectations.
Clearly articulate and present solutions to client business audiences.
Keep abreast of product and industry updates and engage with broader consulting team to share best practices and contribute to knowledge management.
Demonstrate ability to quickly learn new concepts, relate them to client issues and craft solutions.
Provide functional and SME support to Insurance domain products.
Preferred Requirements
Knowledge of Insurance industry with expertise in one or more of the following areas
Strong written and oral communication skills as well as strong written and oral communication skills.
IFRS17/LDTI transformations (IFRS systems selection, implementation, and business transformation)
Insurance sector in functional areas: actuarial
Experience in IT industry implementing software products for insurance (P&C Reinsurance) sector
Experience in actuarial reserving for a P&C company
Experience in Pricing, Valuation, and Modeling of Insurance products
Implementation experience and good knowledge of US and/or Insurance regulatory guidelines
Experience with other IFRS 17 vendor solutions (SAS, Moody s, Aptitude, Tagetik, etc.)
Strong customer interaction skills and the ability to assess a client s IT processes and strategies. Mature, self-starting, self-motivating, and capable of making decisions independently.
Knowledge on solutioning LDTI requirements for an insurance or financial institution using any product or home grown applications
Knowledge on accounting principle, policies and procedures for LDTI.
MBAs (Finance or Accounting), CPAs, Bachelors or Master s degree in Actuarial Science with at least 5 years of relevant insurance or actuarial experience within the insurance sector; whether within the insurance firms, consulting firms, or insurance analytics firms.
*Typical Activities
Participate in reviewing functional requirements
Review RFP and assist in effort estimation based on functionalities to be implemented
Participate in knowledge transfer workshops with internal implementation and product organization on LDTI and modelling requirements.
Perform functional gap analysis between IFRS17/LTDI product and client requirements.
Assist in functional design of gaps identified in the gap analysis
Provide consultancy services on functional issues reported
Provide walkthrough of data requirements.
Understand client applications/source systems and perform
o Data assessment,
o Data Mapping
o Gap analysis and mitigation
Participate in internal testing process and create test plan, data and expected results.
Support clients during acceptance testing.
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