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Five Acts

Inspiring people through data.

Senior Actuary

ActuaryActuaryPart TimeRemoteSeniorTeam 51-200Since 2005H1B No SponsorCompany SiteLinkedIn

Location

Brazil

Posted

8 days ago

Salary

0

Seniority

Senior

Postgraduate DegreePortuguese

Job Description

Senior Actuary

Five Acts

• Act as a functional and business reference for processes related to IFRS 17. • Understand and document the current process executed in SAS, Alteryx and other systems involved. • Map the As-Is processes and support the definition of the To-Be model in Databricks. • Elicit, analyze and detail functional requirements, business rules, calculations, controls, reconciliations and acceptance criteria. • Identify inputs, transformations, dependencies, outputs and existing integrations in the IFRS 17 process. • Facilitate integration between actuarial, accounting, finance and technology perspectives of the project. • Support translating accounting and actuarial rules into clear requirements for Data Engineering and Development teams. • Validate rules related to measurement, movements, accounting recognition and disclosure of insurance contracts. • Support the definition and validation of contract groupings, portfolios, cohorts and units of account. • Validate treatments applicable to different measurement models, including GMM/BBA, PAA and VFA, when applicable to the insurer's operation. • Support validation of concepts and components such as CSM, Risk Adjustment, future cash flows, discounting, LRC, LIC, onerous contracts and reinsurance held. • Participate in defining accounting entries, financial events and integrations with subledger, general ledger and corporate systems. • Support reconciliations between source data, actuarial results, IFRS 17 movements and accounting records. • Prepare and execute functional, integration, regression and user acceptance test scenarios. • Monitor closing cycles and analyze differences between the current solution and the new solution. • Critically evaluate divergences in results, identifying whether the cause is related to data, rules, parameters, calculations or processes. • Support the definition of internal controls, audit trails, traceability, evidence and governance of the process. • Interact with internal and external audits, when necessary, supporting clarifications and provision of evidence. • Conduct workshops, interviews and meetings with stakeholders from business and technology areas. • Support functional documentation, operational procedures and knowledge transfer to the teams responsible for the process. • Contribute to planning the transition, parallel run, go-live and stabilization of the new solution.

Job Requirements

  • Proven experience in projects, processes or operations related to IFRS 17
  • Relevant experience in the insurance, reinsurance, pension or specialized consulting market for insurers
  • Solid knowledge of an insurer's accounting and actuarial processes
  • Knowledge of the measurement models provided for in IFRS 17, especially GMM/BBA, PAA and VFA
  • Knowledge of components such as CSM, Risk Adjustment, future cash flows, discount curves, LRC, LIC, onerous contracts and reinsurance held
  • Ability to analyze complex processes, identify dependencies and structure requirements clearly
  • Experience preparing and executing functional tests, user acceptance testing and validating results
  • Ability to interact with different audiences, including Accounting, Actuarial, Finance, Technology, Data, Audit and executives
  • Good verbal and written communication skills.

Benefits

  • Remote work
  • Part-time
  • Flexible schedule

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