This role involves leading the process for setting and managing actuarial assumptions within the Valuations and Modelling department. You will ensure assumptions are accurate, data-supported, and governed by appropriate controls and approval processes. This includes analyzing experience data, developing and reviewing assumptions, assessing business impacts, and presenting recommendations to governance forums.
Responsibilities
Lead the process used to set and manage actuarial assumptions across the Valuations and Modelling department
Ensure assumptions are accurate, well-supported by data, and governed through appropriate controls and approval processes
Analyze experience data, develop and review assumptions, assess business impacts, and present recommendations to governance forums
Oversee the overall basis-setting framework, including methodology, governance, and operating model
Coordinate basis-setting activities and provide final assumption recommendations
Drive continuous improvements to the way assumptions are developed and managed
Requirements
Honours Degree in Actuarial Science or Mathematics
Basis-setting operating models, annual planning, governance gates, ownership models, data readiness, dependency tracking and controlled production processes
Experience database ownership, Insurance Data delivery models, validation controls, sign-off evidence, maintenance governance and future product database requirements
Python-based actuarial applications, controlled automation, documentation automation and technology-enabled process improvement (where relevant)
Life insurance products, claims experience, policyholder behaviour, expenses, investment assumptions, IFRS 17, SAM, capital, forecasting, pricing and economic valuation requirements affected by assumptions
Impact assessment methods including actual versus expected experience, individual basis change testing, analysis of surplus feedback, basis change impacts, IFRS valuations and budget impacts including impact on earnings emergence
Basis governance, control design, model readiness, implementation dependencies, audit walkthroughs, HAF sign-off processes, peer review of insurance bases and ORSA adverse scenario principles
Regulatory, IFRS 17, SAM, capital and management reporting requirements relevant to actuarial assumptions and outputs
8+ years of actuarial or insurance finance experience, including significant experience in assumption setting, basis analysis, experience investigations, impact assessment and governance
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Proven experience leading and owning basis-setting operating models, annual basis plans, governance gates, ownership models, data readiness, experience investigations, assumption development and final basis recommendations
