We now have multiple opportunities for IFRS17 Senior Actuarial Managers to join us on fixed-term contracts (FTC) in our IFRS17 Transition team. Ideally the FTC will be 12-months, but we have flexibility for shorter FTC's as well. The IFRS17 Transition team have a key role to play in the successful implementation of the new accounting standard. These roles offer the opportunity to work on a large programme delivering fundamental changes to the way in which IFRS results are presented and to gain an understanding of the implications for Aviva.
Our Transition team is responsible for ensuring that Aviva can produce an IFRS17-compliant Contractual Service Margin (CSM) for existing business - taking care of the full breadth of Aviva’s UK Life (UKL) Insurance business and engaging with other Aviva markets.
Our current team is evenly split between York, Bristol, and London using virtual/electronic communication channels. The role-holders can be based in any UK location/Aviva office, as Aviva use “smart-working” in 2020.
The role’s duties & responsibilities:
- Calculating and reviewing CSM figures across a range of products with appropriate and agreed controls and providing technical assurance on transition workstream output
- Across this Transition team will we have people specialise in one of the three transition CSM calculation methods (Full Retrospective Approach, Modified Retrospective Approach, Fair Value Approach)
- Understanding of key IFRS17 decisions being made and how these impact IFRS17 results, particularly relating to the advantages and disadvantages of the three transition methods
- Regular engagement with key partners to brief on output, judgements, challenges, and scope expectation vs intention
- Managing control & governance framework and auditor relationships
- Preparing and presenting documents and papers used to secure approval from IFRS17 governance bodies and external auditors
- Managing and mentoring more junior members of our team
- Providing SME support on IFRS17 transition training to the UKL business and other members of the programme
Skills & experiences required:
- Strong technical actuarial skills to build accurate calculation processes within agreed controls framework
- UK actuarial reporting experience preferred - financial reporting, messaging, analysis, IFRS17 and Solvency II knowledge and accounting aspects of IFRS (P&L/Income statement constructions)
- Management experience either in BAU or projects, people leadership and development of team members
- Experience of building relationships and managing senior business partners
- Ability to collaborate with other programme team members on and offshore, and drive delivery to successful outcome
- Resilience, creativity and flexibility given challenges of implementing a sophisticated, unprecedented new reporting standard
What will you get for this role?
- A competitive salary depending on location, skills, experience and qualifications
- Generous defined contribution pension scheme
- Annual performance related bonus and pay review
- Holiday allowance of 29 days plus bank holidays and the option to buy/sell up to 5 additional days (Pro Rata)
- Up to 40% discount for some Aviva products through “My Aviva Extras” plus discounts for Friends and Family (some exclusions apply)
- Excellent range of flexible benefits to include a matching share save scheme
Working at Aviva
At Aviva, we’re people with a purpose. To be with you today, for a better tomorrow.
We bring this to life by ensuring managing risk is at the heart of the way we all work. We love people who do the right thing for our customers, and our colleagues. We want people who speak up, who take ownership, and who make good decisions.
The way we do this is important too. We always ‘Care More’. It’s our thing. We’re all about our people – that’s you – so we can be pretty flexible. If you want to work from home some of the time or change your hours so you can pick up your kids or care for someone in your family, we’re very open to that. In fact, we don’t advertise roles as either part or full time, because we know each person has different needs, just as each business area has different needs. So, it’s up to you to discuss working hours during your interview.
We care deeply about being inclusive and that means we encourage applications from people with diverse backgrounds and experiences. We want our employees to bring their whole self to work and that starts with you.
We interview every disabled applicant* that meets the minimum criteria for the job. Just send us an email once you’ve applied stating that you have a disclosed disability, and we’ll make sure we interview you.
*As defined in The Equality Act 2010*. By ‘minimum criteria’ we mean you should provide us with evidence which demonstrates that you generally meet the level of competence required and have the qualifications, skills or experience defined as essential to perform the role.