IFRS17 Project Actuary (New Ireland Assurance)
Description of business unit
The Finance and Actuarial department is responsible for reserving and reporting requirements of New Ireland. This includes accounting and regulatory regimes including Solvency II, embedded value, IFRS and associated information as well as Bank of Ireland mandated information. It involves, in tandem with accounting professionals, preparation of assumptions based on business analysis, managing actuarial models, examining reported numbers. It contributes to business understanding, e.g. new and existing business profitability.
Purpose of the Role
This is a key role in delivering fundamental changes to the way in which IFRS is calculated, implemented and presented.
- Financial Impact Assessment to help support key methodology proposals
- Assist with planning and forecasting numbers for IFRS17
- IFRS17 business and data requirements
- Transition balance sheet exercise
- Build models to roll forward the historic Contractual Service Margin
- Configuration and test of IFRS17 accounting solution
- Building IFRS17 tools: e.g. for discount rate calculation, risk adjustment parameters, attributable expenses
- Contractual Service Margin (CSM) tool prototype testing
- Dry run testing of the data preparation layer, CSM tool and subledger
What is the opportunity?
This position offers the opportunity to have a key role in delivering fundamental changes to the way in which IFRS is calculated, implemented and presented.
The role will offer the successful candidate to become a senior member of the Actuarial Reporting team once IFRS 17 becomes effective.
Working at Bank of Ireland doesn't have to mean working in an office to have an impact. Our commitment to enabling colleagues to thrive means that depending on role type you can have choice and flexibility in where you work and live, subject to your role, customer needs and our requirements. We have a hybrid working model, with home, agile hub and office based options available. We will always list a primary location which can be where you go for in person collaboration, and a location where you can best perform your role.
Please note you must live in the jurisdiction for the business to which you are contracted.
This job can be done anywhere in ROI with the primary office location as Baggot Plaza, Dublin to which travel will be required for in person collaboration. Exact frequency to be agreed with manager.
- A Qualified Actuary with at least 3 years' experience of the life and pensions business
Essential Skills & Experience
- Financial reporting experience including MCEV, IFRS and Solvency II
- Knowledge of the financial structure and operation of life and pensions products
- Experience in implementing reporting change (e.g. Solvency II) or in auditing / peer reviewing / independent validation of reporting change
- Excellent communication and presentation skills
- Proven track record in delivery with a demonstrated ability in managing multiple tasks
- Strong teamwork skills
Desirable Qualifications, Skills & Experience
- Good IFRS17 experience advantageous
- Track record of continuous improvement and process re-engineering
- Prophet modelling skills
- Customer Focused - Leader
- One Group, one team - People Manager
- Agile - People Manager
- Accountable - People Manager
- Manage Risk - People Manager
Where Agency assistance is required Bank of Ireland Recruitment Team will engage directly with suppliers. Unsolicited CVs / profiles supplied to Bank of Ireland by Recruitment Agencies will not be accepted for this role.
Bank of Ireland Group is an equal opportunities employer and is committed to fostering an inclusive workplace which values and benefits from the diversity of our workforce.
Closing date: Jun 23, 2021
For further information, and to apply, please visit our website via the “Apply” button below.