Basic Function -
- To ensure Preparation, assessment, monitoring and analysis of actuarial reserves
- Undertake or assist with assurance reviews
- Report drafting and presentations and. Report valuation results and quality assurance for central reserving teams
Essential Functions
- Calculation of the quarterly best estimate reserves (including further design, refinement and modification of the current process)
- Support Capital and Reporting Requirements through:
Calculation of the technical provisions and the ongoing maintenance and Standard Formula SCR models in line with updates to the directives from EIOPA and CAA (Luxembourg)
Preparation of the QRTs
Clear communication of results, including key sensitivities and uncertainties
Capital and reporting requirements for branches in Bermuda, Hong Kong, Singapore, UK and the US markets
- Monitoring and reporting on underwriting exposure.
- Monitoring and reporting on claims experience
- Modelling the placement of the outwards insurance program
Primary Internal Interactions
- Assistant Manager/Sr executive for the purpose of reporting performance, escalation handling, clarifying concerns, and seeking feedback and support
- Manager for the purpose of settling issues left unresolved by the Assistant Manager and monthly evaluation of performance
- Peers(team members) for the purpose of seeking co-operation & clarification on process-related matters & providing assistance and support when required
Primary External Interactions
- Onshore Team Manager and SMEs for daily planning of work and execution of deliverables
- Must demonstrate effective and diplomatic oral and written communication skills
- Strong time management and organization skills
Technical Skills
- Nearly/ Newly qualified actuary
- Strong technical background in reserving and capital
- Experience with reserving software
- Coding experience
- Ability to process and interpret large data sets
Process Specific Skills
- Should have good understanding of GAAP accounting principles and procedures.
- Insurance accounting regulatory reporting experience or US GAAP/IFRS knowledge preferred.
- Ability to understand the significance of various activities in a statutory/GAAP accounting close cycle and deliver results accordingly.
Soft skills (Desired)
- Must demonstrate effective and diplomatic oral and written communication skills
- Strong time management and organization skills
- Effective training/support to executive/ Sr. executive /New joiners
Soft Skills (Minimum)
- Self-disciplined and result oriented
- Ability to multi task
- Ability to work effectively as part of a team
- Commitment and drive for results
- Strong analytical skills
- Ability to understand and question established process guidelines in order to bring about possible process improvements
- Ability to pay great attention to detail - especially during processing of transactions
Desirable Requirements
- Stochastic modelling using VBA, @Risk or similar
- Knowledge of the Solvency regulatory framework and SII reporting experience
- IFRS 17 experience
Work Experience Requirements
- 6-8 years of experience in technical role or reporting area preferably with an Global insurance company.
- Should have good understanding of GAAP accounting principles and procedures.
