Lead General Insurance IFRS 17 Actuary

£70,000 - £99,999
03 Dec 2020
08 Dec 2020
Contract Type
Full Time
AII is Aviva’s internal reinsurer for both Life and GI business, and plays a pivotal role in the success of Aviva, freeing up capital and cash business units to support the Group’s strategic objectives. AII has over £60bn of assets and liabilities and is one of the largest reinsurance entities in the UK. As a composite reinsurer, implementing IFRS 17 is particularly challenging - the role will require a strong understanding of how GI insurers operate and write profitable business, an understanding of GI IFRS financial reporting, the ability to draw conclusions from dry run analyses and the ability to apply broader commercial thinking to be able to recommend specific technical choices.

Aviva introduced “smart-working” in 2020, and the person in this role can be based anywhere in England, as long as they are comfortable regularly travelling to our London offices.

The role’s duties & responsibilities:
  • Delivery of IFRS17 GI requirements in time with project plan, a role firmly involved in end-to-end responsibilities from reporting to internal messaging
  • Supporting AII in the successful coordination and delivery of GI-related AII IFRS 17 and Group IFRS17 reporting requirements
  • Leading on the IFRS17 GI technical analysis - reviewing, understanding and interpreting IFRS17 financial impact analysis for GI treaties
  • Providing support & insight to project lead (AII Chief Accountant) & project sponsor (AII CFO) where required, including recommendations and suggestions as to ongoing IFRS change activities
  • Coordination and engagement with key Cedant contacts to ensure that technical decisions are aligned where possible and that cedants understand and can provide the data/calculations required by AII
  • Engagement in audit review of work created/generated under the AII work stream

Skills & experiences required:
  • Significant post-qualified actuarial experience with a strong GI focus
  • Financial Reporting, messaging, and analysis experience
  • IFRS 17 or Quota Share Reinsurance actuarial IFRS 4 experience
  • Understanding of accounting aspects of IFRS (P&L/Income statement constructions)
  • Ability to interpret sophisticated data, craft management actions and feed into high level communication
  • Identifying appropriate simplifications and working assumptions to meet interim requirements, and systematically remove or agree these to reach audit quality

What will you get for this role?
  • A salary of £80,000 to £100,000 depending on skills, experience and qualifications
  • Generous defined contribution pension scheme
  • Annual performance related bonus and pay review
  • Holiday allowance of 29 days plus bank holidays and the option to buy/sell up to 5 additional days (Pro Rata)
  • Up to 40% discount for some Aviva products through “My Aviva Extras” plus discounts for Friends and Family (some exclusions apply)
  • Excellent range of flexible benefits to include a matching share save scheme

Working at Aviva

At Aviva, we’re people with a purpose. To be with you today, for a better tomorrow.

We bring this to life by ensuring managing risk is at the heart of the way we all work. We love people who do the right thing for our customers, and our colleagues. We want people who speak up, who take ownership, and who make good decisions.

The way we do this is important too. We always ‘Care More’. It’s our thing. We’re all about our people â€" that’s you â€" so we can be pretty flexible. If you want to work from home some of the time or change your hours so you can pick up your kids or care for someone in your family, we’re very open to that. In fact, we don’t advertise roles as either part or full time, because we know each person has different needs, just as each business area has different needs. So, it’s up to you to discuss working hours during your interview.

We care deeply about being inclusive and that means we encourage applications from people with diverse backgrounds and experiences. We want our employees to bring their whole self to work and that starts with you.

We interview every disabled applicant* that meets the minimum criteria for the job. Once you’ve applied please send us a separate email stating that you have a disclosed disability and we’ll make sure we interview you.

*As defined in The Equality Act 2010. By ‘minimum criteria’ we mean you should provide us with evidence which demonstrates that you generally meet the level of competence required and have the qualifications, skills or experience defined as essential to perform the role.

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