IFRS 17 Reserving Manager

We’re First Central Insurance & Technology Group (First Central for short), an innovative, market-leading insurance company. We protect the things customers love so they can get on with what matters to them in life. 

Data drives us. It fuels our outstanding distribution, finance, technology and legal services. Our underwriting skills are built on data expertise; it creates the insights we need to give the right cover to the right customers at the right price. But, it’s the people inside and outside our business that power us. They make us stand out, help us succeed. We’re ambitious. We’re growing. We’ve won awards.   

Looking for your next challenge? Ready to take the lead on IFRS 17 reserving for a growing, forward thinking insurance business? This could be the perfect role for you! We’re on the hunt for an IFRS 17 Reserving Manager to join our Finance/Actuarial team at First Central. In this key role, you’ll take charge of our IFRS 17 reserving processes, ensuring accuracy, compliance, and efficiency across the board.

This is a fantastic opportunity to apply your actuarial expertise and IFRS 17 experience in a role that combines technical excellence, strategic insight, and cross-functional collaboration.

Key skills and qualities you’ll need to thrive in this role:

• Deep knowledge of actuarial principles, IFRS 17 standards, and experience with reserving techniques.
• Excellent communication skills, with the ability to simplify and explain complex topics to the wider team.
• Taking charge of and managing the IFRS 17 reserving process.
• Maintaining the accuracy and integrity of our financial statements in line with the new accounting standard.

What's involved:

• IFRS 17 Reserving Process: Lead the development, implementation, and maintenance of IFRS 17 compliant reserving methodologies, models, and processes.
• Reserve Calculation and Analysis: Perform regular reserve calculations, including the determination of Risk Adjustment, and Loss Component, ensuring compliance with IFRS 17.
• Model Development and Validation: Oversee the development, maintenance, and validation of actuarial models used for IFRS 17 reserving, ensuring they are fit for purpose and meet regulatory requirements.
• Data Management: Ensure the quality, completeness, and accuracy of data used in the reserving process.
• Documentation and Reporting: Prepare and review comprehensive documentation of reserving methodologies, assumptions, and results. Produce timely and accurate reserving reports for internal stakeholders, external auditors, and regulatory bodies.
• Assumption Setting: Lead the process of developing and updating key assumptions used in reserving, including discount rates, lapse, and expense assumptions.
• Collaboration and Communication: Work closely with other teams, including pricing, valuation, financial reporting, and IT, to ensure a cohesive approach to IFRS 17 implementation and ongoing compliance.
• Continuous Improvement: Identify opportunities to improve the efficiency and effectiveness of the IFRS 17 reserving process, including automation and process optimization.
• Staying Current: Maintain a deep understanding of IFRS 17 standards, regulatory guidance, and industry best practices related to insurance contract accounting.
• Mentorship and Development: Provide guidance and mentorship to junior members of the actuarial team, fostering their professional development.
• Explain complex topics in an accessible way to management and other teams

Skills and experience:

• Actuarial and Technical Expertise: Strong background in Actuarial Science, Mathematics, or Statistics, with a focus on reserving, and deep knowledge of actuarial principles.
• IFRS 17 Implementation Experience: Significant experience with IFRS 17 implementation and reporting, ensuring compliance and accurate financial reporting.
• Insurance Accounting Knowledge: Strong understanding of insurance accounting principles, including financial reporting and the application of regulatory standards.
• Data Analysis and Software Proficiency: Highly skilled in actuarial software (e.g., ResQ or equivalent) and data analysis tools (e.g., Excel, SQL, Python, R) to drive insights and support decision-making.
• Analytical and Problem-Solving Skills: Excellent analytical, problem-solving, and critical thinking skills, with a proven ability to manage complex actuarial challenges.
• Communication and Stakeholder Engagement: Strong communication and interpersonal skills, with the ability to explain complex actuarial concepts clearly to stakeholders at all levels.
• Project Management and Deadline Management: Demonstrated ability to manage multiple projects simultaneously, prioritising tasks and meeting deadlines effectively.
• Presentation Skills: Experienced in presenting complex actuarial concepts to diverse audiences, including senior leadership, in a clear and impactful manner.
• Professional Qualification: Degree in Actuarial Science, Mathematics, Statistics, or a related field and fellowship of a recognised actuarial society (e.g., CAS, IFoA) is highly preferred.

At First Central, we pride ourselves on fostering talent, driving innovation, and creating opportunities for our people to grow. This role is a great chance to make a significant impact in a technical and strategic capacity while working in a supportive, collaborative environment. If you’re passionate about IFRS 17 and actuarial excellence, we’d love to hear from you! Apply now and take the next step in your career with First Central!

What can we do for you?

People first. Always. We’re passionate about our colleagues and know the best people deserve an extraordinary working environment. We owe it to them so that’s what we offer. Our workplaces are energetic, inspirational, supportive. To get a taste of the advantages you’ll enjoy, take a look at all our perks in full here. 

Intrigued? Our Talent team can tell you everything you need to know about what we want and what we’re offering, so feel free to get in touch.