FS - Risk Consulting - Actuarial - Staff

At EY, you’ll have the chance to build a career as unique as you are, with the global scale, support, inclusive culture and technology to become the best version of you. And we’re counting on your unique voice and perspective to help EY become even better, too. Join us and build an exceptional experience for yourself, and a better working world for all. 

Role name 
Staff, IFRS17, P&C Actuarial, EY GDS Consulting

Global Delivery Services is one of EY's greatest global assets – a network of service delivery centers that provide high-quality services at a competitive cost for all EY’s client serving and enablement teams. Every day, we combine our subject matter expertise with our technology and automation skills to develop new solutions that deliver greater value for EY. If you have a passion for enabling world class actuarial services globally to solve the most complex challenges in the financial services industry, come join our dynamic GDS team! 

The opportunity
We are looking for a Staff member to join our General Insurance IFRS17 Actuarial Practice delivering solutions to the leading clients in Insurance Sector, working closely with other Staff/Assistants, Consultants/Seniors, Managers, Senior Managers or Client partners in EY’s global network of insurance sector and consulting professionals.

Within our talented and dynamic Actuarial team, the members work on multiple client engagement teams that perform actuarial model building and validations, reserving (actuarial liability estimation), due diligence, premium calculation, valuation analysis for IFRS, GAAP, and Statutory calculations and review, capital/risk modeling and other related actuarial projects for General and Health insurance businesses. The team members also receive on-the-job training to acquire practical experience in addressing business/technical issues and in applying industry knowledge and EY policies/procedures on client engagements. The position is designed to enable the member to pursue actuarial exams while developing the basic skills needed to be a successful actuarial consultant, combining both excellent learning and career opportunities.

Our growing team of professionals come from a diverse background, all committed to being long term trusted advisors to our clients.

Your key responsibilities
As a Staff member within the IFR17 Actuarial team your role involves developing and implementing solutions both within the Insurance service line and in collaboration with other services lines.   
On engagements, you will:

• Be responsible for providing high quality results and generating effective solutions working along with Seniors, Managers or Senior Managers in delivering the project
• Establish/manage priorities, communicate the status of activities, and accumulate/report all chargeable hours
• Maintain/develop productive working relationships with stakeholders and other team members

Within the actuarial practice you will:

• Estimate actuarial liability for general insurance lines of business which involves data preparation, data loading to tools, analysis of liabilities and presenting results 
• Analyse the historical claims data, identify potential issues and trends and report the findings
• Perform valuation of reserves through IBNR models using the data supplied for estimation
• Working knowledge of different loss projection methods and their applications along with the familiarity of different property and casualty lines of business
• Review data, methodologies, assumptions, results and benchmark against the market
• Understanding the forecast, payment patters, yield curves, risk adjustments, claims, premiums, expenses, tax and other parameters used as a part of the establishing the Balance sheet position and Profit/Loss statement as a part of IFRS17 regulatory requirement
• Liability of Incurred Claims (LIC) and Liability of Remaining Coverage (LRC) calculations using the PAA or GMM approach
• PAA Eligibility testing to finalise the methodology for calculating the liability for the group of contracts
• Onerous testing to identify the onerousness for estimating the Loss Component (LC) 
• Calculating the LC and Contractual Service Margin (CSM) release over the period of the contract
• IFRS17 (or Solvency II) Actuarial Liability estimation for general insurance lines of business which involves data preparation, data loading to tools, analysis of liabilities and presenting results to relevant teams
• Maintain strong focus in finishing Actuarial exams along with developing a strong subject matter experience
• Knowledge of Aptitude (IFRS17 Financial reporting tool), ResQ or other reserving software are good to have, but not must criteria
• Stay informed of current business/economic developments relevant to the industry

We are looking for individuals who have a proactive attitude and are seeking the opportunity for personal and professional growth, leveraging and supporting our global network. 

Skills and attributes for success

Skills and attributes for a successful career at EY require a learning mindset and passion to add value to GDS, member firms and client organisations. Bright and enthusiastic individuals who give their all to each assignment they work on will find themselves at home within our energetic GDS actuarial team.

To qualify for the role, you must have

• 1+ years’ experience in the General Insurance industry, either within a consulting firm or an Insurer or an organisation providing Insurance services (such as reserving, IFRS17 and Solvency II technical provision)
• Ability to multi-task and flexible work attitude packed with good analytical skills
• Proficiency in MS-Office Suite, VBA, SAS, R Programming, Python, SQL, SPSS, etc., will be a plus

Ideally, you’ll also have

• Strong academic background with a bachelor’s degree with an emphasis in actuarial science, mathematics, statistics or finance related supplemented ideally with a professional qualification
• Strong written and verbal communication skills for report writing, industry studies and stakeholder presentations
• Overseas exposure (especially Australia/UK/US/Europe market experience) 

What we look for 

• Deep knowledge and experience of the insurance industry and/or consulting. Relevant recent big 4 experience in leading actuarial engagement with recognised insurers will be an advantage. This ideally should be complemented by employment experience within the Insurance sector either at an insurer, intermediary or regulator
• Up to date knowledge of the regulatory environment impacting insurers and other financial service organisations 
• Experience of supporting teams to high quality timely delivery, actively building relationships and promoting a collaborative culture when working with colleagues

What we offer
EY Global Delivery Services (GDS) is a dynamic and truly global delivery network. We work across six locations – Argentina, China, India, the Philippines, Poland and the UK – and with teams from all EY service lines, geographies and sectors, playing a vital role in the delivery of the EY growth strategy. From accountants to coders to advisory consultants, we offer a wide variety of fulfilling career opportunities that span all business disciplines. In GDS, you will collaborate with EY teams on exciting projects and work with well-known brands from across the globe. We’ll introduce you to an ever-expanding ecosystem of people, learning, skills and insights that will stay with you throughout your career. 

• Continuous learning: You’ll develop the mindset and skills to navigate whatever comes next. 
• Success as defined by you: We’ll provide the tools and flexibility, so you can make a meaningful impact, your way. 
• Transformative leadership: We’ll give you the insights, coaching and confidence to be the leader the world needs. 
• Diverse and inclusive culture: You’ll be embraced for who you are and empowered to use your voice to help others find theirs. 

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