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Actuarial Manager

Bristol, Somerset
Job Type
22 Sep 2022

We are AMS. We are a global total workforce solutions firm; we enable organisations to thrive in an age of constant change by building, re-shaping, and optimising workforces. Our Contingent Workforce Solutions (CWS) is one of our service offerings; we act as an extension of our clients' recruitment team and provide professional interim and temporary resources.

Our client Lloyds Banking Group is a leading UK based financial services group providing a wide range of banking and financial services, focused on personal and commercial customers. Lloyds Banking Group support a culture of Inclusion and opportunities to develop to become the Bank of the future and Helping Britain Prosper.

On behalf of Lloyds Banking Group, AMS are looking for an Actuarial Manager for a 3 month contract based in Bristol (Hybrid working).

Purpose of the Role :

IFRS17 is a new accounting standard impacting the statutory reporting treatment of Insurance Business. The introduction of the standard will lead to significant changes to the calculation of Actuarial liabilities for the purposes of IFRS reporting.

As an Actuarial Manager you will be responsible for :

  • Calculating of the value of the business, on an IFRS17 basis, is required as at the date of Transition and will form part of the Opening Balance Sheet.
  • Preparing for the Transition, a series of Financial Impact Assessments (FIA) are required to inform methodology decisions and educating stakeholders on the impact of the change to the new standard.
  • Enabling production of these financial impacts, new tools and updated processes will need to be built in order to present and analyse the new IFRS17 metrics. These include sensitivities and analysis of movements.

What we require from the candidate:

  • Experience of Actuarial Reporting of Life Insurance business - a qualified actuary (or qualified by experience)
  • Expert in IFRS and Solvency II reporting
  • Experience of IFRS17 for Life Insurance business
  • Expert in production of actuarial valuations and analysis
  • Analytical thinker, able to interpret technical requirements of regulatory and statutory standards and consider the options and wider implications of these and then apply judgement to make sensible proposals
  • Excellent stakeholder management and ability to engage stakeholders to ascertain requirements, to design and deliver solutions that meet those requirements
  • Ability to engage with wider areas of the IFRS17 Programme and the business including operational and commercial teams
  • Good written communication skills to produce methodology and design proposals, results reports for stakeholders
  • Familiarity with R coding and or SQL may be beneficial but not essential

Lloyds Banking Group will only accept workers operating via an Umbrella or PAYE engagement model.

If you are interested in applying for this position and meet the criteria outlined above, please click the link to apply and we will contact you with an update in due course.

AMS, a Recruitment Process Outsourcing Company, may in the delivery of some of its services be deemed to operate as an Employment Agency or an Employment Business

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  • Job Reference: 718773186-2
  • Date Posted: 22 September 2022
  • Recruiter: Nationwide CWS
    Nationwide CWS
  • Location: Bristol, Somerset
  • Salary: On Application
  • Sector: Administration
  • Job Type: Permanent