Ifrs17 - Expert Actuarial P&C

Ifrs17 - Expert Actuarial P&C
Empresa:

Axa



Área:

Otros

Ifrs17 - Expert Actuarial P&C

Detalles de la oferta

General mission The mission of the Actuarial methods & Modelling solutions Expert P&C in the IFRS 17 program consists in leading several topics of IFRS17 related to P&C actuarial methods and modelling solutions. This represents an expert role in the implementation of risk and actuarial modelling in that new accounting norm from the business point of view.

The holder of the positon will work in close collaboration with the other managers and expert of the IFRS17 team and with other with other Group departments (GRM, PBRC), AXA entities, external consultants and AXA Group Solutions.

Context

The PBRC Department within the Group Finance Department is responsible for accounting consolidation and financial and actuarial reporting of the Group. These missions are performed for regular closings, forecasts and strategic plan exercises. PBRC works with local PBR units within the Finance Departments of Group subsidiaries.

Within PBRC, the recently created IFRS17 program team is in charge, from a Group perspective, of the monitoring of the implementation of the IFRS17 norm.

The IFRS 17 norm was issued in May 2017 and applies to annual reporting periods beginning on or after 1 January 2021.
IFRS 17 represents the biggest accounting change for insurers in many years. The consequences of that new standard are not limited to a change in the measurement approach of technical reserves, the timing of P&L recognition and in the presentation of insurance companies’ financial statements. IFRS 17 requires also important changes in core systems and processes used in financial reporting; in operating models with higher interaction (or convergence) between actuarial and financial resources, in performance measurement and in financial communication. Once in place it will have also consequences in capital management, product design and investment strategies.
The implementation of IFRS 17 is seen as much challenging as Solvency II and much more complex from accountings systems and processes point of view, the whole with a shorter implementation timeline and a lower preparation.

The program team includes 4 sub-teams, organized by domain of focus:
• Actuarial methods & modelling solution
• Accounting data, systems & processes
• Finance, Accounting, Reporting & Governance
• Project management and transversal & entities coordination

Core activities

The core activities that are under the responsibility of the holder of the position include:
• To contribute to guidelines on actuarial methods such as contract classification, boundaries of contracts, onerous contract, risk adjustment, discount rate, mutualisation, granularity…
• To develop tools for simulation (new business and in force) in order to provide impact on balance sheet and earnings.
• To contribute to the design / functional requirements and the implementation of the CSM solution.
• NB: These work streams will require a close cooperation with the Accounting data, systems & processes stream and Finance, Accounting, Reporting & Governance stream.
• To provide support to local entities in their IFRS17 implementation
• To prepare and facilitate key documents/slides for IFRS17 Steering committees and Board meetings
• To animate the IFRS17 community around the Group on these topics
• To train or prepare trainings for entities and the management
• To provide feedback to the governance bodies of the project and entities

Technical and professional skills

Technical and professional skills:
• Reserving, EEV, Solvency 2 and IFRS expertise for an insurance company and consolidation
• Reinsurance knowledge for an insurance company
• Ability to understand multi-gaap accounting environments
• Mature knowledge of the IFRS17 norm and challenges from a business and IT point of view
• Excellent understanding of the IT solutions of Finance and ability to challenge solutions
• Visionary in terms of technological solutions

Soft skills and competencies:
• Good communication skills to maintain good relationship with the various stakeholders and influence in decision making to reach project / team objectives
• Ability to work in a multicultural environment with stakeholders of very different backgrounds (eg. business, IT) and countries
• Analytical mindset
• Ability to manage the buying of different stakeholders
• Ability to accept to be challenged and to have to justify positions
• Open minded, ability to

Ciudad: madrid


Fuente: Bebee


Área:

  • Otros / Otros

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