Lead Actuary – IFRS 17

Job Title

Lead Actuary – IFRS 17

Division

Finance

Reports To

Head of Actuarial for IFRS 17

Key Relationships

IFRS 17 Actuarial team, Actuarial Reserving / Reporting and Group Actuarial, Finance, Data and Ceded Reinsurance teams, Claims managers, Underwriters and business managers, Lloyd’s, external actuaries and auditors.

Job Summary

Responsible for the day‑to‑day operation of the actuarial team handling the IFRS 17 calculation engine, ensuring accurate and timely valuation outputs on a quarterly basis. Drive continuous improvement of IFRS 17 processes, governance, analytics and reporting to enhance efficiency, control and insight.

Key Responsibilities

• Oversee and maintain all actuarial aspects of IFRS 17 methodologies and assumptions.
• Maintain strong governance over IFRS 17 actuarial processes, including model controls, validation, peer review, and audit support.
• Liaise effectively with other Finance stakeholders on IFRS 17 actuarial matters.
• Coordinate, plan and deliver actuarial calculations performed by the IFRS 17 calculation engine covering both actual quarterly results and quarterly budgeting/forecasting.
• Analyse and explain IFRS 17 results, movements and sensitivities, including drivers of profitability and volatility.
• Provide technical expertise in the IFRS 17 calculation engine, supporting implementation and testing of any changes.
• Ensure necessary documentation is maintained for the various tools used for the IFRS 17 calculations.
• Ensure the team delivers on ad‑hoc projects assigned to them.
• Build and maintain constructive working arrangements with key stakeholder groups.
• Identify opportunities and deliver improvements in the IFRS 17 valuation processes and methodologies.
• Keep abreast of industry best practice, new initiatives and regulatory changes.

Requirements

• Support junior team members in learning and development, delegation, and workflow planning.
• Undertake applicable professional, technical and career development training (internally and externally completed).

Personal Specification

Education and Qualifications

• University degree in Mathematics or related field.
• Qualified Actuary preferred.

Skills and Abilities

• Reserving and IFRS 17 technical knowledge required.
• Strong, competent user of MS Excel.
• Background in operating large code bases with ability to maintain and extend existing code; knowledge of SAS and SQL preferred.
• General commercial and financial knowledge.
• Experience in analytics/visualisation tools.
• Solvency UK / III Technical Provision knowledge beneficial.
• Strong analytical skills, attention to detail, accurate and numerate.
• Excellent communication skills, both verbal and written, at all stakeholder levels.
• Ability to manage a high‑performing team and work independently.
• Strong time‑management, meeting deadlines and prioritising abilities.
• Ability to inspire and motivate a high‑performing team.

Knowledge and Experience

• Reserving and IFRS 17 experience; Lloyd’s market knowledge desirable.
• Detailed knowledge of actuarial valuation techniques including pricing and capital modelling.
• Solvency UK / III experience beneficial.
• Detailed knowledge of reinsurance and its impact on reserving.
• People management experience preferred.
• PSICLE experience beneficial.

Aptitude and Disposition

• Outcome focused, self‑motivated, flexible and enthusiastic.
• Professional, capable of interacting with a variety of stakeholders including senior management, colleagues and external suppliers.
• Diplomatic; collaborative.

Competencies

• Achievement orientation.
• Problem solving.
• Analytical thinking.
• Conceptual thinking.
• Information seeking.
• Customer focus.
• Team working.
• Initiative.
• Using expertise.
• Integrity.
• Impact and influence.

Workplace Expectations

All interactions, both internally and externally, must reflect Beazley core values – Being Bold, Striving for Better, and Doing the Right Thing – fostering teamwork and promoting a positive brand image and experience for external customers.

Employees are expected to:

• Comply with Beazley procedures, policies and regulations, including the code of conduct.
• Undertake training on Beazley policies and procedures as delivered via e‑learning or the learning management system.
• Display business ethics that uphold the interests of all customers.
• Ensure all interactions with customers deliver fair outcomes and the right products for their needs.
• Adhere to specific responsibilities as outlined by line managers and compliance teams.
• Keep up to date with developments in underwriting control standards, claims control standards and other Beazley and customer relationship management standards.
• Carry out additional responsibilities as individually notified, such as membership of working groups or committees.

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