Senior Actuary

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Five Acts

WebsiteLinkedInAll Job Openings

51 - 200 employees

Founded 2005

💼 Consulting

📣 Marketing

📦 Logistics

Consulting • Marketing • Logistics

Five Acts is a company specialized in building and evolving data platforms using modern technologies and cloud architecture. Through their accelerators and processes, they create data products that deliver value swiftly for businesses. Five Acts focuses on data engineering, analytical intelligence, and machine learning to help companies harness the power of their data, transforming it into actionable insights. With over 300 clients and a strong track record of completed projects, Five Acts is dedicated to helping organizations improve through effective data strategies.

📋 Description

• Act as a functional and business reference for processes related to IFRS 17. • Understand and document the current process executed in SAS, Alteryx and other systems involved. • Map the As-Is processes and support the definition of the To-Be model in Databricks. • Elicit, analyze and detail functional requirements, business rules, calculations, controls, reconciliations and acceptance criteria. • Identify inputs, transformations, dependencies, outputs and existing integrations in the IFRS 17 process. • Facilitate integration between actuarial, accounting, finance and technology perspectives of the project. • Support translating accounting and actuarial rules into clear requirements for Data Engineering and Development teams. • Validate rules related to measurement, movements, accounting recognition and disclosure of insurance contracts. • Support the definition and validation of contract groupings, portfolios, cohorts and units of account. • Validate treatments applicable to different measurement models, including GMM/BBA, PAA and VFA, when applicable to the insurer's operation. • Support validation of concepts and components such as CSM, Risk Adjustment, future cash flows, discounting, LRC, LIC, onerous contracts and reinsurance held. • Participate in defining accounting entries, financial events and integrations with subledger, general ledger and corporate systems. • Support reconciliations between source data, actuarial results, IFRS 17 movements and accounting records. • Prepare and execute functional, integration, regression and user acceptance test scenarios. • Monitor closing cycles and analyze differences between the current solution and the new solution. • Critically evaluate divergences in results, identifying whether the cause is related to data, rules, parameters, calculations or processes. • Support the definition of internal controls, audit trails, traceability, evidence and governance of the process. • Interact with internal and external audits, when necessary, supporting clarifications and provision of evidence. • Conduct workshops, interviews and meetings with stakeholders from business and technology areas. • Support functional documentation, operational procedures and knowledge transfer to the teams responsible for the process. • Contribute to planning the transition, parallel run, go-live and stabilization of the new solution.

🎯 Requirements

• Proven experience in projects, processes or operations related to IFRS 17 • Relevant experience in the insurance, reinsurance, pension or specialized consulting market for insurers • Solid knowledge of an insurer's accounting and actuarial processes • Knowledge of the measurement models provided for in IFRS 17, especially GMM/BBA, PAA and VFA • Knowledge of components such as CSM, Risk Adjustment, future cash flows, discount curves, LRC, LIC, onerous contracts and reinsurance held • Ability to analyze complex processes, identify dependencies and structure requirements clearly • Experience preparing and executing functional tests, user acceptance testing and validating results • Ability to interact with different audiences, including Accounting, Actuarial, Finance, Technology, Data, Audit and executives • Good verbal and written communication skills.

🏖️ Benefits

• Remote work • Part-time • Flexible schedule