Senior Actuarial Manager

Job Overview

The Senior Actuarial Manager will be based in Chertsey and report directly to a Principal in the Consulting Services team. As a manager, you will be involved in all the following aspects of the role, with the proportion of time spent on each dependent upon the nature of particular projects and the mix of people in the project team.

Responsibilities:

The main role will be to support the EMEA services team in all the following aspects of the role:

• Lead/Assist in the implementation of the actuarial code provided with Prophet ALM libraries including in particular the Asset Liability Strategy (ALS) Library
• Perform model reviews and deliver optimisation reports based on customer models
• Design, structure and develop code during customer projects as required
• Provide customer training to customers with a focus on the more danced training courses (eg Advanced Coding in Prophet, Introduction to Prophet ALS)
• Assist in the presales support of Prophet where required
• Local onsite customer assistance may be required for short periods
• Prototyping SII / IFRS17 models in Prophet

Essential Skills:

• Experience of developing code with Prophet ALS and preferably some knowledge of all three methods of liability approaches within ALS (i.e. flexing, external and internal).
• The ideal candidate would possess a strong interest in modelling using actuarial systems, but they should also possess strong knowledge of Microsoft Excel, Word and PowerPoint.
• Strong knowledge of the Prophet system or demonstrable equivalent experience, and involvement in key business projects using Prophet. Good working knowledge of the various Prophet components, having created products in at least one of Prophet's actuarial liability libraries and significantly amended products in others.
• You will also have implemented at least five from:
(1) new business processing, (2) calculation looping, (3) rebasing, (4) goal seeking, (5) data grouping, (6) dynamic model point method, (7) in-memory dynamic processing, (8) extended formulas and (9) stochastic modelling
• Familiar with the Data Conversion System (DCS) and Prophet Excel Reporting. It would also be beneficial to have an awareness of potential performance bottlenecks and solutions when using Prophet
• The successful candidate will have a background in life assurance or financial services, and a general knowledge of the financial services industry's regulatory and reporting frameworks, including an awareness of at least two of the following:
o Realistic Balance Sheets (RBS)
o Individual Capital Assessments (ICA) and Solvency II
o European Embedded Values (EEV) and Market Consistent Embedded Values (MCEV)
o International Financial Reporting Standards (IFRS17)
• Experience in, and knowledge of, the business implications and impact on Prophet modelling of the following:
o Profit Testing
o Product Design & Pricing
And at least three of the following:
o Valuation methods, including embedded values and realistic valuations
o Asset / Liability Modelling
o Stochastic Modelling
o Financial Economics and Derivatives
o Analysis of Change
• Substantial experience working in a life assurance department or consultancy
• Strong verbal and written English language skills, and presentation skills are essential

There will be a requirement to work at Customers' offices as and when necessary.

Desirable Skills:

• The candidate could be making good progress with the Institute of Actuaries or Society of Actuaries exams (or equivalent) but this is not essential. Candidates who have discontinued the exams but meet the knowledge and experience requirements of the role will also be considered providing they have at least all the Core Technical subjects and ideally at least some of the specialist subjects.