[ref. x8107124] Head of Actuarial Reporting

General:

We have an exciting opportunity to join the finance team as Head of Actuarial Reporting. The successful candidate will be leading a team that is responsible for the actuarial aspects of the Solvency II & IFRS17 delivery. We are looking for a qualified actuary, who is comfortable leading a high performing team and dealing with stakeholders at all levels.

We are a flexible and innovative employer offering a friendly, collaborative, diverse and inclusive work environment. We actively encourage and expect applications from all backgrounds.

Who We Are

Beazley is a specialist insurance company with over 30 years’ experience helping people, communities and businesses to manage risk all around the world. Our mission is to provide beautifully designed insurance, innovating to give our clients the maximum benefit with minimum hassle.

Our products are wide ranging, from cyber & tech insurance to marine, healthcare, financial institutions and contingency; covering risks such as the weather, film production or protection from deadly weapons.

Our Culture

We employ over 1,500 people globally, hosting a wonderful diversity of cultures, experiences and backgrounds. We are proud of our family-feel culture at Beazley that empowers our staff to work from when and where they want, in an adult environment that’s big on collaboration, diversity of thought & personal accountability.

Our three core values inspire the way we work and how we treat our people & customers – 1) Be bold 2) Strive for better 3) Do the right thing. Upholding these values every day has enabled us to become an innovative and responsive organisation in touch with the changing world around us – our ambitious I&D & Sustainability targets are testament to this.

As a Beazley employee, you also get access to our fantastic array of benefits which include commuting reimbursement, free in-office lunch, six months parental leave and a lifestyle allowance, amongst many others.

Job Title: Head of Actuarial Reporting

Key Relationships: Senior management, Beazley actuaries, Finance, Data and Ceded Reinsurance teams, Claims managers, Underwriters and business managers, Lloyd’s, external actuaries and auditors.

Job Summary: Responsibility for the actuarial aspects of Beazley’s Solvency 2 & IFRS17 Outputs

• Oversee and own all actuarial aspects of IFRS17 Reporting & Analytics, including the assumptions required for the IFRS17 calculations (including the IFRS 17 budgeting and forecasting)
• Oversee the quarterly Solvency 2 technical provision valuations (including the Solvency 2 Profit Projections) and relevant Pillar 3 submissions
• Ensure that the IFRS 17 and Solvency 2 reporting can be bridged to each other and the to the statutory reporting for the actuarial line items (including budgeting/forecasting elements).
• Ensure governance around actuarial Solvency 2 & IFRS17 processes is maintained
• Contribute to reporting the results of the Solvency 2 & IFRS17 valuations and analyses to the relevant stakeholders and committees, including the audit committee
• Develop a suite of analytics that can be leveraged across all reporting bases, allowing quick and efficient comparison. This will require working closely with the Business Partnering team to generate the complete picture.
• Support the group actuary in the preparation of the actuarial function report
• Liaise with the external actuaries and support the auditors
• Identify and oversee the implementation IFRS17 & Solvency 2 process improvements and future requirements
• Ensure the necessary documentation is maintained for the various tools used for the IFRS17 and Solvency 2 calculations
• Ensure team delivers on ad-hoc projects assigned to them
• Build and maintain constructive working arrangements with those groups identified as being key to your role
• Operate as an effective team member by supporting direct reports and contributing to the delivery and achievement of overall team and business objectives
• Be a technical expert and trusted advisor for management on the relevant actuarial aspects of IFRS17 & Solvency 2
• Keep abreast of industry best practice, new initiatives and changes in regulatory requirements
• Undertake applicable professional, technical and career development training (delivered internally and externally)

General

It is important that within all your interactions both internally and externally you adhere Beazley’s core values - Being Bold, Striving for Better, and Doing the Right Thing as they contribute to an internal environment of teamwork and promote a positive brand image and experience to our external customers." We also expect Beazley employees to:

• Comply with Beazley procedures, policies and regulations including the code of conduct
• Undertake training on Beazley policies and procedures as delivered by your line manager, the Culture & People or assurance teams (compliance, risk, internal audit) either directly, via e-learning or the learning management system
• Display business ethics that uphold the interests of all our customers
• Ensure all interactions with customers are focused on delivering a fair outcome, including having the right products for their needs
• Comply with any specific responsibilities necessary for your role as outlined by your line manager, the Culture & People or assurance teams (compliance, risk, internal audit) and ensure you keep up to date with developments in these areas. This may include, amongst others, Beazley’s underwriting control standards, Beazley’s claims control standards, other Beazley standards and customer relationship management
• Carry out additional responsibilities as individually notified, either through your objectives or through the learning management system. These may include membership of any Beazley committees or working groups

Personal Specification:

• University degree in Mathematics or related field
• Professional Actuarial qualification

• General commercial and financial knowledge
• Experienced user of MS Excel; VBA and Access/SQL skills desirable
• Reserving and IFRS17 Technical knowledge; Solvency 2 Technical Provision knowledge would be beneficial
• Strong analytical skills with attention to detail; accurate and numerate
• Ability to communicate effectively both verbally and in writing with stakeholders at all levels
• Ability to organise a high performing team as well as able to work on own initiative
• Ability to manage time, meet deadlines and prioritise
• Ability to inspire and motivate a high performing team

• Reserving and IFRS17 experience; Lloyd’s market knowledge desirable
• Detailed knowledge of actuarial valuation techniques, including those used within pricing and capital modelling
• Detailed knowledge of reinsurance and its impact on reserving
• Proven people and project/task management experience - preferred

• Outcome focussed, self-motivated, flexible and enthusiastic
• Professional approach to successfully interact with senior management/colleagues/external suppliers
• Diplomatic; collaborative

• Achievement orientation
• Sees solutions not problems
• Analytical thinking
• Conceptual thinking
• Information seeking
• Customer focus
• Team working
• Initiative
• Using expertise
• Integrity
• Impact and influence
• Takes responsibility