Job Description

General:

Job description and person specification

Head of Actuarial for IFRS17

Key Relationships:

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

Responsibility for the actuarial aspects of Beazley's IFRS17 Valuation

This role will be instrumental in assisting to continue the embedding of the new tools and processes within Beazley. Once fully embedded, this role will be responsible for the operation and maintenance of the actuarial components of the process.

General

At Beazley we are committed to doing the right thing because it is the right thing to do. It is important that within all your interactions both internally and externally you adhere to this principle through adoption of Beazley's core values and behaviours.Adopt the Beazley culture of professionalism, integrity, effectiveness and dynamic attitude that contributes to an internal environment of teamwork and promotes a positive brand image and experience to our external customers. Comply with Beazley procedures, policies and regulations including the code of conduct which incorporates the PRA, Lloyd's and FCA Conduct Rules. Undertake training on BFL's policies and procedures as delivered by your line manager, Culture and 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 BFL 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, Culture and 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, BFL's underwriting control standards, BFL'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 BFL committees or working groups.

Responsibilities

Oversee and own all aspects of actuarial assumptions required for the IFRS17 calculations Oversee and own all actuarial aspects of IFRS17 Reporting & Analytics Ensure governance around actuarial IFRS17 processes is maintained Liaise effectively with other Finance and Actuarial 'Heads of' on IFRS17 actuarial matters Ownership of all actuarial calculations performed by the IFRS17 Calculation Engine Identify and implement IFRS17 process improvements and future requirements Ensure the necessary documentation is maintained for the various tools used for the IFRS17 calculations within Group Actuarial Ensure team delivers on ad-hoe 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 Identify opportunities and deliver improvements in the IFRS17 valuation processes and methodologies 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)

Person 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

Our Culture

We have a wonderful mix of cultures, experiences, and backgrounds at Beazley with over 2,000 of us working around the world. Employee's diversity, experience and passion allow us to keep innovating and moving forward, delivering the best. 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 is big on collaboration, diversity of thought and personal accountability. Our three core values inspire the way we work and how we treat our people and customers.

Be bold

Strive for better

Do the right thing

Upholding these values every day has enabled us to become an innovative and responsive organization in touch with the changing world around us - our ambitious inclusion & diversity and sustainability targets are testament to this.
We are a flexible and innovative employer offering a friendly, collaborative, and inclusive working environment. We actively encourage and expect applications from all backgrounds. Our commitment to fostering a supportive and dynamic workplace ensures that every employee can thrive and contribute to our collective success.
Explore a variety of networks to assist with professional and/or personal development. Our Employee

Networks include:

Beazley RACE - Including, understanding and celebrating People of Colour Beazley SHE - Successful, High potential, Empowered women in insurance Beazley Proud - Our global LGBTQ+ community Beazley Wellbeing - Supporting employees with their mental wellbeing Beazley Families - Supporting families and parents-to-be

We encourage internal career progression at Beazley, giving you all the tools you need to drive your own career here, such as:

Internal Pathways (helping you grow into an underwriting role) iLearn (our own learning & development platform) LinkedIn Learning Mentorship program External qualification sponsorship Continuing education and tuition reimbursement Secondment assignments

The Rewards

The opportunity to connect and build long-lasting professional relationships while advancing your career with a growing, global organization Attractive base compensation and discretionary performance related annual bonus Private medical insurance coverage for both you and your dependents Company paid life assurance and long term disability insurance Pension with 10% employer contribution, plus a further matched contribution up to 2.5% 25 days of annual leave (prorated for 1st calendar year of employment), plus public holidays, with the ability to flex the religious bank holidays to suit your religious beliefs, subject to approval. Additional annual leave purchase is also available up to a maximum of five additional days per year. Up to 2.5 days matched paid leave for volunteering at a charity of your choice and 5 days paid leave to provide or arrange care for a dependent with a long term care need annually Up to 550 reimbursement towards home office setup Free in-office lunch and monthly lifestyle allowance Monthly travel allowance or annual season ticket The opportunity to save for, and purchase, shares of Beazley stock Six months fully paid parental leave, regardless of how you come to parenthood Company paid sabbatical up to 12 weeks after 10 years of continued service Support with exam/study leave and fees for relevant qualifications related to furthering education Smart working policy and flexible working culture, trusting our employees to do what works best for them, their role and the needs of the business

Don't meet all the requirements?

At Beazley we're committed to building a diverse, inclusive, and authentic workplace. If you're excited about this role but your experience doesn't perfectly align with every requirement and qualification in the job specification, we encourage you to apply anyway. You might just be the right candidate for this, or one of our other roles.