Job description and person specification

Head of Actuarial for IFRS17

Key Relationships: Senior management, Beazley actuaries, Finance, Data and Ceded Reinsurance teams, Claims managers, Underwriters and business managers, Lloyd's, external actuaries and auditors.

Responsibility for the actuarial aspects of Beazley's IFRS17 Valuation

This role will be instrumental in assisting to continue the embedding of the new tools and processes within Beazley. Once fully embedded, this role will be responsible for the operation and maintenance of the actuarial components of the process.

General

At Beazley we are committed to doing the right thing because it is the right thing to do. It is important that within all your interactions both internally and externally you adhere to this principle through adoption of Beazley’s core values and behaviours.

Adopt the Beazley culture of professionalism, integrity, effectiveness and dynamic attitude that contributes to an internal environment of teamwork and promotes a positive brand image and experience to our external customers.
Comply with Beazley procedures, policies and regulations including the code of conduct which incorporates the PRA, Lloyd’s and FCA Conduct Rules. Undertake training on BFL’s policies and procedures as delivered by your line manager, Culture and People or assurance teams (compliance, risk, internal audit) either directly, via e-learning or the learning management system.
Display business ethics that uphold the interests of all BFL customers.
Ensure all interactions with customers are focused on delivering a fair outcome, including having the right products for their needs.
Comply with any specific responsibilities necessary for your role as outlined by your line manager, Culture and People or assurance teams (compliance, risk, internal audit) and ensure you keep up to date with developments in these areas. This may include, amongst others, BFL’s underwriting control standards, BFL’s claims control standards, other Beazley standards and customer relationship management.
Carry out additional responsibilities as individually notified, either through your objectives or through the learning management system. These may include membership of any BFL committees or working groups.

Responsibilities

Oversee and own all aspects of actuarial assumptions required for the IFRS17 calculations
Oversee and own all actuarial aspects of IFRS17 Reporting & Analytics
Ensure governance around actuarial IFRS17 processes is maintained
Liaise effectively with other Finance and Actuarial 'Heads of' on IFRS17 actuarial matters
Ownership of all actuarial calculations performed by the IFRS17 Calculation Engine
Identify and implement IFRS17 process improvements and future requirements
Ensure the necessary documentation is maintained for the various tools used for the IFRS17 calculations within Group Actuarial
Ensure team delivers on ad-hoe projects assigned to them
Build and maintain constructive working arrangements with those groups identified as being key to your role
Operate as an effective team member by supporting direct reports and contributing to the delivery and achievement of overall team and business objectives
Be a technical expert and trusted advisor for management on the relevant actuarial aspects of IFRS17
Identify opportunities and deliver improvements in the IFRS17 valuation processes and methodologies
Keep abreast of industry best practice, new initiatives and changes in regulatory requirements
Undertake applicable professional, technical and career development training (delivered internally and externally)

Person Specification

University degree in Mathematics or related field
Professional Actuarial qualification
General commercial and financial knowledge
Experienced user of MS Excel; VBA and Access/SQL skills desirable
Reserving and IFRS17 Technical knowledge; Solvency 2 Technical Provision knowledge would be beneficial
Strong analytical skills with attention to detail; accurate and numerate
Ability to communicate effectively both verbally and in writing with stakeholders at all levels
Ability to organise a high performing team as well as able to work on own initiative
Ability to manage time, meet deadlines and prioritise
Ability to inspire and motivate a high performing team
ReservingandIFRS17 experience; Lloyd's market knowledge desirable
Detailed knowledge of actuarial valuation techniques, including those used within pricing and capital modelling
Detailed knowledge of reinsurance and its impact on reserving
Proven people and project/task management experience - preferred
Outcome focussed, self-motivated, flexible and enthusiastic
Professional approach to successfully interact with senior management/colleagues/external suppliers
Diplomatic; collaborative
Achievement orientation
Sees solutions not problems
Analyticalthinking
Conceptual thinking
Information seeking
Customer focus
Team working
Initiative
Using expertise
Integrity
Impact and influence
Takes responsibility

Our Culture

We have a wonderful mix of cultures, experiences, and backgrounds at Beazley with over 2,000 of us working around the world. Employee’s diversity, experience and passion allow us to keep innovating and moving forward, delivering the best. We are proud of our family-feel culture at Beazley that empowers our staff to work from when and where they want, in an adult environment that is big on collaboration, diversity of thought and personal accountability. Our three core values inspire the way we work and how we treat our people and customers.

Be bold
Strive for better
Do the right thing

Upholding these values every day has enabled us to become an innovative and responsive organization in touch with the changing world around us – our ambitious inclusion & diversity and sustainability targets are testament to this.

We are a flexible and innovative employer offering a friendly, collaborative, and inclusive working environment. We actively encourage and expect applications from all backgrounds. Our commitment to fostering a supportive and dynamic workplace ensures that every employee can thrive and contribute to our collective success.

Explore a variety of networks to assist with professional and/or personal development. Our Employee

Networks include:

Beazley RACE - Including, understanding and celebrating People of Colour
Beazley SHE - Successful, High potential, Empowered women in insurance
Beazley Proud - Our global LGBTQ+ community
Beazley Wellbeing - Supporting employees with their mental wellbeing
Beazley Families - Supporting families and parents-to-be

We encourage internal career progression at Beazley, giving you all the tools you need to drive your own career here, such as:

Internal Pathways (helping you grow into an underwriting role)
iLearn (our own learning & development platform)
LinkedIn Learning
Mentorship program
External qualification sponsorship
Continuing education and tuition reimbursement
Secondment assignments

The Rewards

The opportunity to connect and build long-lasting professional relationships while advancing your career with a growing, global organization
Attractive base compensation and discretionary performance related annual bonus
Private medical insurance coverage for both you and your dependents
Company paid life assurance and long term disability insurance
Pension with 10% employer contribution, plus a further matched contribution up to 2.5%
25 days of annual leave (prorated for 1st calendar year of employment), plus public holidays, with the ability to flex the religious bank holidays to suit your religious beliefs, subject to approval. Additional annual leave purchase is also available up to a maximum of five additional days per year.
Up to 2.5 days matched paid leave for volunteering at a charity of your choice and 5 days paid leave to provide or arrange care for a dependent with a long term care need annually
Up to £550 reimbursement towards home office setup
Free in-office lunch and monthly lifestyle allowance
Monthly travel allowance or annual season ticket
The opportunity to save for, and purchase, shares of Beazley stock
Six months fully paid parental leave, regardless of how you come to parenthood
Company paid sabbatical up to 12 weeks after 10 years of continued service
Support with exam/study leave and fees for relevant qualifications related to furthering education
Smart working policy and flexible working culture, trusting our employees to do what works best for them, their role and the needs of the business

Don’t meet all the requirements? At Beazley we're committed to building a diverse, inclusive, and authentic workplace. If you’re excited about this role but your experience doesn’t perfectly align with every requirement and qualification in the job specification, we encourage you to apply anyway. You might just be the right candidate for this, or one of our other roles.

IFRS17 jobs

Head of Actuarial IFRS 17