Life Insurance(International Financial Reporting Standards) Specialist

Life Insurance IFRS (International Financial Reporting Standards) Specialist

key responsibilities
Estimate actuarial liability for general insurance lines of business which involves data preparation, data loading to tools, analysis of liabilities and presenting results Analyse the historical claims data, identify potential issues and trends and report the findingsPerform valuation of reserves through IBNR models using the data supplied for estimationWorking knowledge of different loss projection methods and their applications along with the familiarity of different property and casualty lines of businessReview data, methodologies, assumptions, results and benchmark against the marketUnderstanding the forecast, payment patters, yield curves, risk adjustments, claims, premiums, expenses, tax and other parameters used as a part of the establishing the Balance sheet position and Profit/Loss statement as a part of IFRS17 regulatory requirementLiability of Incurred Claims (LIC) and Liability of Remaining Coverage (LRC) calculations using the PAA or GMM approachPAA Eligibility testing to finalise the methodology for calculating the liability for the group of contractsOnerous testing to identify the onerousness for estimating the Loss Component (LC) Calculating the LC and Contractual Service Margin (CSM) release over the period of the contractIFRS17 (or Solvency II) Actuarial Liability estimation for general insurance lines of business which involves data preparation, data loading to tools, analysis of liabilities and presenting results to relevant teamsMaintain strong focus in finishing Actuarial exams along with developing a strong subject matter experienceKnowledge of Aptitude (IFRS17 Financial reporting tool), ResQ or other reserving software are good to have, but not must criteriaStay informed of current business/economic developments relevant to the industryWe are looking for individuals who have a proactive attitude and are seeking the opportunity for personal and professional growth, leveraging and supporting our global network. To qualify for the role, you must haveGood experience in the General Insurance industry, either within a consulting firm or an Insurer or an organisation providing Insurance services (such as reserving, IFRS17 and Solvency II technical provision)Ability to multi-task and flexible work attitude packed with good analytical skillsProficiency in MS-Office Suite, VBA, SAS, R Programming, Python, SQL, SPSS, etc., will be a plus