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Job Description
What is the opportunity?
As a key member of the Insurance Finance Special Project Team you will be responsible to develop and execute key IFRS 17 financial analysis against Business & Accounting Policy Requirements supporting the measurement of the contractual service margin (CSM), loss component & loss recovery while reviewing and providing reconciliation & analytics over valuation inputs and core financial disclosure outputs.
In addition, through a Program Change Management process, delivering and documenting accounting policy changes, business requirements and executing testing across multiple technology solutions with prime focus on the CSM but also on Insurance Contracts, discount rates, interest accretion, actuarial valuations, expense, investment and other financial inputs.
Proactively analyze processes and controls across financial applications while identifying and driving solution opportunities for improvements relating to the Insurance contract measurement, financial and accounting systems and data lakes.
What you will do?
- As a member of a dynamic, multi-functional Insurance Transformation and Special Projects team embedded within Finance, develops technical financial data requirements and specifications for Insurance Contract measurement, accounting, systems, processes, methodologies, and models.
- Performs financial analysis against valuation data inputs, internally derived mathematical measurements and review of financial outputs from/into the financial and operating models and systems. Core focus is on the measurement of the contractual service margin that represents the unearned profit that the entity expects to earn as it provides service.
- Prepares IFRS 17 documentation and/or presentations relating to: accounting & business requirements, methodology; processes; implementation; testing; controls / governance; end user documentation / training, and analyses performed
- Contributes to the development, execution, and/or documentation of testing processes, test cases & expected results related to project deliverables
- Contributes to successful completion of project objectives under tight timelines, including via identification of risks, agility, resolution of ambiguity, and development of mitigation strategies
- Parallel focus on implementing early win program improvement opportunities identified including development of modeling & allocation technologies, data requirements and gap analysis
- Collaborate closely with the Insurance Transformational Team, including IT, Actuarial, Finance, tax, pricing & investment counter-parts covering the analysis of financial data input & output from/to the financial and operating models (i.e. AXIS, policy administration, investments systems, CSM systems etc.)
- Ongoing maintenance & review of financial tools & reports including recommending to senior management opportunities to stream-line, and introduce new financial analytics/technologies that will strengthen the ongoing strategic financial transformation
- Implementation of stringent EUC, SOX, security and other model framework controls
- Understands various documentation stakeholder requirements, and proposes, defines, and implements the overall system documentation structure design
- Conducts financial testing on data, systems and processes to ensure compliance with documentation. Works in concert with the Transformational Team in the design & implementation of a Future End-to-End Data, System and Financial Solution
Must Have
- 4+ years of experience in the Insurance Financial Industry (Life, Health, Wealth) and/or equivalent experience
- Good knowledge of IFRS and/or Actuarial Standards of Practice with ability to apply Standards to Business processes
- Completion of a Business Administration & Mathematics university undergrad Degree.
- Ideally working towards and/or completed CFA and/or MBA.
- Strong Communication strengths with experience presenting to senior management with ability to communicate complex concepts concisely to technical and non-technical audiences, in both verbal & written form
- Extremely strong Math and Financial Business knowledge
- Aptitude & technical ability to leverage past Financial technology skillsets to learn & apply independently to new software solutions such as implementation of accounting systems, Data Technology Tools/languages (python, sql, Dataiku, tableau) and/or Financial Data-Lakes
- Strong conceptual, analytical, and problem solving skills
- Ability to grasp technical details and determine macro-level issues working with extremely large datasets
- Self-initiated & self-starter with a strong work ethic
- Teamwork, collaboration, and co-operation is a requirement
Job Skills
Budget Management, Communication, Financial Planning and Analysis (FP&A), Organizational Leadership, Presentations, Process ManagementAdditional Job Details
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