CIC Insurance Group – IFRS 17 Actuarial Lead.

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The role holder will work within the IFRS17 workstream, with the responsibility for technical modelling and actuarial computations, implementation within strict timelines, system set-up, user acceptance testing, dry run and go live.

Main Responsibilities

  1. IFRS17 transition and reporting
  • Technical modelling, actuarial computations, and reporting under IFRS17 methods.
  • Develop controls, model audit trails, validation and documentation around estimates and judgement in IFRS17
  • implementation for data and results consistency, completeness, and accuracy.
  • Modelling  financial statements under IFRS17 basis and comparatives to IFRS4.
  • Testing products to examine their technical and operational feasibility under IFRS17.
  1. System set-up
  • Setting up product models and reporting on actuarial and IFRS17 software
  • User Acceptance Testing
  1. Projections and Budgeting
  • Projected actuarial cash flows under IFRS17 budgets
  1. Financial and regulatory reporting
  • Inputs to regulatory reports i.e., Financial Condition Report, Solvency, Risk Based Capital report
  • Support stakeholders with actuarial inputs: Finance, appointed actuary and audit/ assurance teams on IFRS17 reporting within monthly, quarterly and end year reporting timelines
  1. Profit testing
  • Profit-testing of products under IFRS17 and recommendations on optimal treatment of onerous contracts
  • New product development reporting: Technical analysis under IFRS17
  1. Actuarial analyses
  • Analysis of value of new business, embedded value and Asset Liability Management valuations
  • Risk assessment, management, and reporting under IFRS17 reporting

 Key Deliverables

  • Fulfill IFRS17 implementation for the Group
  • Appropriate pricing to achieve target profit criteria set by executive management
  • Actuarial reporting for regulatory compliance and financial statements.


Academic Qualifications

  • Bachelor’s Degree in Actuarial Science, Statistics, Mathematics or any other related field

Professional Qualifications 

  • Professional actuarial exams (associate under IFOA/SOA or equivalent) is a mandatory requirement
  • Accounting qualification will be an added advantage

Relevant Experience

  • Minimum of six (6) years’ relevant experience in the life insurance industry, two (2) of which is at a supervisory level.

Skills and Attributes

  • Entrepreneurial Spirit
  • Market Awareness
  • Customer Focus
  • Continuous Innovation
  • Ownership and Commitment
  • Team Spirit





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