Actuarial Manager

**JOB PURPOSE**

Responsible to drive compliance with IFRS 17 in the 1Life Corporate Actuarial

team. Provide actuarial technical support and develop models to calculate IFRS

17 results. In addition, provide actuarial technical support and coach/mentor

junior analysts within the 1Life Actuarial team. Use

statistical models to analyze data and calculate the probability of pricing/

products.

**RESPONSIBILITIES**

**Actuarial Modeling**

Develop, maintain and implement actuarial models and processes.

Models to be fit for purpose and able to estimate the reality accurately.

Models (and any form of estimation) to be clearly documented with the scope of

use, definitions, data, and assumptions made.

Monitor models to ensure model performance and that they are communicated

back to the business.

Assess business implications and make recommendations to ensure compliance

with IFRS 17 (where the standard allows for discretion).

**Stakeholder Engagement**

Collaborate with internal (Actuarial) and external (Business) stakeholders.

Keep stakeholders informed and up to date with project/analysis delivery and

provide clear and concise feedback to stakeholders.

Maintain measurable service levels on business requests and provide feedback

that speaks to the business issue observed.

Be on time and prepared for meetings with Business.

**Model deployment and testing**

Plan and deliver the group IFRS 17 project requirements and manage the team

on a day-to-day basis to meet project timelines to ensure quality.

Ensure peer review of the IFRS 17 models is performed.

Analyze the results, to ensure the model is performing as expected and

producing the results required. Effective impact and sensitivity

analysis to be performed before any deployment is done. Translate results

from the impact/sensitivity analysis to Business, to provide insight and what

various pricing/product changes will mean to profitability and policy growth.

Maintain and develop documentation on model for pricing/product and clearly state what needs to be deployed and how testing will be done to ensure the deployment is successful. Ensure monitoring process are in place to measure the performance of the model for pricing/product.

**Data Collection & Analysis**

Use data from a wide range of sources to analyse key themes and identify

possible impacts on the business.

Extract data used for actuarial models.

Data/information to be reconciled against credible data sources (for example

financials) to ensure the data is complete and accurate.

Ensure definitions and assumptions are aligned to the problem statement.

**Insights and Reporting**

Ensure status updates are communicated to the relevant stakeholders.

Translate the monitoring results so they can be understood by Business.

Provide an ecosystem where data and data analysis is nimble and easy to

access by any team member.

Provide insights to inform the Business of future modelling endeavours.

Ensure reports are accurate and complete and regularly validated against

credible data sources.

Review of results on a regular basis and ready to be presented to the Actuarial

Senior Management level.

**Project Management**

Deliver small-scale or medium-scale projects while working within an established

program management plan.

Meet project deadlines of the group IFRS 17 project team.

**Improvement / Innovation**

Review existing operations in own area of work and implement innovation

processes to generate new ideas and ensure continuous improvements are

delivered.

Stay up to date with Business developments and develop solutions proactively

within Business.

Continuous development/research of modelling techniques and feature

engineering to improve model estimates.

**Leadership and Direction**

Communicate the local action plan; explain how this relates to the function's

strategy and action plan and the broader organization's mission and vision;
motivate people to achieve local business goals.

**Performance Management**

Develop and propose own performance objectives; take appropriate actions to

ensure achievement of agreed objectives, using the organization's performance

management systems to improve personal performance. OR Manage and report

on team performance, set appropriate performance objectives for direct reports

or project / account team members and hold them accountable for achieving

these, taking appropriate corrective action where necessary to ensure the

achievement of team / personal objectives.

**Building Capability**

Work within existing development framework to build own capabilities and those

of direct reports. Provide specialized training or coaching to others throughout

the organization in area of expertise.

Mentoring and coaching of junior staff on a technical and professional front.

**Operational Compliance**

Identify, within the team, instances of non-compliance with the organization/

actuarial policies and procedures and/or relevant regul