Description
Ernst & Youngs Financial Services Office (FSO) is a unique, industry-focused business unit that provides a broad range of integrated services that leverage deep industry experience with strong functional capability and product knowledge. FSO practice provides integrated advisory services to financial institutions and other capital kets participants, including commercial banks, investment banks, broker-dealers, asset managers (traditional and alternative), insurance and energy trading companies, and the Corporate Treasury functions of leading Fortune 500 Companies. The service offerings provided by the FSO Advisory include ket, credit and operational risk management, actuarial advisory, regulatory advisory, quantitative advisory, structured finance transaction, technology enablement, risk and security, program advisory, and process & controls.
Within our talented and dynamic Insurance & Actuarial Advisory Services (IAAS) team, the member works on multiple client engagement teams that perform actuarial model building and validations, reserving analysis (actuarial liability calculations), due diligence, premium calculation, valuation analysis for IFRS, GAAP, and Statutory, MCEV/EV calculations and review, capital/risk modelling and other related actuarial projects for General, Life, and Health insurance businesses. The team member also receives on-the-job training to acquire practical experience in addressing business/technical issues and in applying industry knowledge and EY policies/procedures on client engagements. The position is designed to enable the member to pursue actuarial exams while developing the basic skills needed to be a successful actuarial consultant, combining both excellent learning and career opportunities.
- Manage and develop people
- Lead a team of Assistant Managers, Seniors and Staff and make sure the team delivers high-quality work, as per EY Global methodology, on time and to budget
- Conduct team performance reviews, serve as a positive leader and mentor, and contribute to the team performance
- Identify development opportunities and training needs for high performing Assistant Managers, Seniors or Staff
- Manage business and clients
- Actively support the Americas PAS leadership both in terms of growth as well as quality initiatives
- Enhance relationships with global teams and leverage connections to identify opportunities for work at the GDS
Skills and attributes for success
- Should have a thorough understanding of US pension and retirement benefits
- Carry out end to end actuarial valuations process of defined benefit pension schemes plans and for various compliance related reporting.
- Experience in cleaning, processing, working with large data sets, identifying inconsistencies in the data and preparing it for valuation process.
- Configuring the valuation system (ProVal) in accordance with the various assumptions for each individual client (interest rates/demographic/regulatory and other related) to generate liability for regulatory or financial disclosure.
- Documentation and communication of steps and processes used to arrive at the result and maintaining a high quality of deliverables.
- Familiarity with various US government forms and filings related to qualified DB pension funds and related accounting standards (such as ASC 715, ASC960 and IAS19) and preparation of final deliverable report.
- Familiarity of IAS19 and US GAAP accounting standards.
- Carry out all other reasonable requests and objectives to an acceptable standard within agreed timescales
- Ensure that all statutory and company regulations are follo while processing work to protect clients and the business interests
- Maintain an up to knowledge of legislative changes and actuarial procedures
- Contribute ideas and suggestions for improvements to process templates
- Training and sharing of knowledge with colleagues
- Make steady progress with appropriate professional examinations as agreed with line manager with the support of the company.
Qualifications and Skill Requirements
- 6+ years of work experience in US Pensions in Actuarial domain
- A Bachelor s or Master s degree with an emphasis in Actuarial Science, Mathematics, Statistics, or a related financial field
- Credit for at least five Actuarial Examinations.
- Familiarity with actuarial and statistical techniques
- Valuation software - ProVal (preferred)
- Sound programming knowledge is plus - VBA, R, Python, SQL
- Good analytical skills. Strong written and verbal communication skills
