Offers “HSBC”

Expires soon HSBC

Senior Actuarial Analyst

  • Edinburgh (City of Edinburgh)
  • Accounting / Management control

Job description

Role Title: Senior Actuarial Analyst

Business: Risk Management

New or Existing Role? New

Grade: GCB5

Role Purpose

· Actuarial and Risk Analytics (ARA) is a centre of excellence established within Global Risk, providing actuarial and analytical services to insurance businesses across HSBC The team consists of approximately 40 professional risk experts, with backgrounds covering risk, actuarial and analytics, providing technical support and analysis to multiple territories. ARA is looking to strengthen its team in order to deal the challenges it expects to face over the next few years, in particular around the group-wide implementation of IFRS17 reporting standards.

The purpose of the role is:

· To contribute to the work carried out by the ARA in respect of the group-wide implementation of IFRS17, which will involve assisting with understanding the new regulations, assessing where systems and processes need to be changed or developed, and assisting with the development of solutions both group-wide and country-specific.
· Where necessary due to business needs, to contribute to the work produced by the ARA in the following areas for any country within our remit e.g. experience analyses, (current) IFRS reporting, local statutory reporting, economic capital calculations, pricing, model governance and ad-hoc project work as required.

Key Accountabilities

Impact on Business

· To support senior colleagues on all relevant aspects of the group-wide implementation of the new IFRS17 standards
· Where necessary due to business needs, to support the ARA on relevant aspects of ARA's engagement with entities related to any non-IFRS17 work, such as experience analysis, modelling, (current) IFRS reporting, local statutory reporting, economic capital calculations, pricing, model governance and ad-hoc project work

Customers / Stakeholders

· Group Insurance, as primary customer for the implementation of IFRS17
· Business and Finance teams, both global and at a local entity level
· Team leaders and delivery managers within ARA
· Chief Actuaries and management teams within local insurance entities for actions.
· Provides support and guidance to more junior staff as required

Leadership & Teamwork

· Maintains standards/requirements for actuarial work undertaken by the team
· To contribute effectively to team meetings
· To contribute to a productive team environment
· Acts as career/study mentor to junior staff

Operational Effectiveness & Control

· Ensures work undertaken meets best practice and recognized actuarial standards (internal manuals and external as set by professional bodies)
· Ensures compliance with ARA quality control
· Supports and mentors more junior members on improving operational effectiveness and control within the ARA

Role Dimensions

Technical support with some leadership on:

· Specific areas for insurance businesses – primarily IFRS17 related but also in the other areas ARA works in e.g. experience analysis, (current) IFRS reporting, local statutory reporting, economic capital calculations, model governance and ad-hoc projects,
· Knowledge of insurance product and regulations in overseas markets.
· New and emerging industry practice related to capital and technical provisions.
· No direct budget

Management of Risk

· The jobholder will also continually reassess the operational risks associated with the role and inherent in the business, taking account of changing economic or market conditions, legal and regulatory requirements, operating procedures and practices, management restructurings, and the impact of new technology.
· This will be achieved by ensuring all actions take account of the likelihood of operational risk occurring.
· Also by addressing any areas of concern in conjunction with line management and/or the appropriate department.

Observation of Internal Controls

· The jobholder will also adhere to and be able to demonstrate adherence to internal controls. This will be achieved by adherence to all relevant procedures, keeping appropriate records and, where appropriate, by the timely implementation of internal and external audit points, including issues raised by external regulators.
· The jobholder will implement the Group compliance policy by containing compliance risk in liaison with Global Head of Compliance, Global Compliance Officer, Area Compliance Officer or Local Compliance Officer. The term ‘compliance' embraces all relevant financial services laws, rules and codes with which the business has to comply.
· This will be achieved by adhering to all relevant processes/procedures and by liaising with Compliance department about new business initiatives at the earliest opportunity. Also and when applicable, by ensuring adequate resources are in place and training is provided, fostering a compliance culture and optimising relations with regulators.

Desired profile

Qualifications :

Qualifications

·  A nearly qualified or recently qualified actuary (FIA or equivelant) with up to 2 years post qualification experience.

Technical knowledge

·  Technical knowledge of IFRS17 desirable but not essential provided the candidate had good knowledge of the current financial reporting environment.
·  Good knowledge of insurance products and regulation
·  Familiarity with insurance products sold in Asia would be advantageous.

Language

·  Ability to speak French, Spanish, Cantonese or Mandarin would be an advantage.

Systems

·  Desirable to have knowledge of Prophet and/or SAS, in addition to Excel and VBA.
·  Skills
·  Ability to communicate information in a confident and structure manner to all levels of management.
·  Ability to influence business managers, to establish and maintain co-operation.
·  Good organisational and planning skills.
·  Ability to operate within cross functional teams.
·  Flexibility to assist in other areas within the broader Actuarial and Risk Analytics

We are an equal opportunity employer and are committed to creating a diverse environment.

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