Head of Model Development
Head of Model Development
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Not Disclosed
Salary Not Disclosed
1 Vacancy
Job Description
Head of Model Development
Minimum Requirements:
- Qualified Actuary (passed all subjects) and registered as a fellow Actuary. (Applicants who are not qualified actuaries but have more than 4 years of Valuations experience will also be considered.)
- Advanced Prophet knowledge required.
Key Accountability: Perform complex actuarial production processes under limited supervision to support sound management of business performance and financial risk. Processes include:
- Actuarial Modelling Subject Matter Expert:
- Utilize Prophet (conventional unitlinked and summary libraries) to ensure the accurate calculation of financial reporting metrics including:
- IFRS17: Fulfilment cashflows risk adjustment and contractual service margin.
- Embedded value: Adjusted net worth present value of future profits and cost of capital.
- SAM: Technical provisions and life nonmarket risk solvency capital requirements.
- Utilize Prophet (conventional unitlinked and summary libraries) to ensure the accurate calculation of financial reporting metrics including:
- Relationship Management with 3rd Party Prophet Software Provider:
- Attend meetings with the 3rd party Prophet software provider.
- Validate cloud usage reports to ensure billing is correct.
- Optimize allocation of Prophet named user licenses and ownership of the Prophet application including Prophet Managed Cloud Solution (PMCS).
- Act as the first point of contact for internal colleagues regarding Prophetrelated queries.
- Analytics and Financial Reporting Support:
- Prepare analysis of surplus analysis of embedded value and analysis of basic own funds.
- Produce management information for committee meetings.
- Quality Assurance Review:
- Perform 1st line Quality Assurance to ensure accuracy of model outputs for sound business decisionmaking and maintain a robust control environment.
- Model Governance:
- Ensure that model change documents are sufficiently detailed so that the model change process can be reviewed and signed off by internal and external stakeholders.
- People Management Responsibilities:
- Support talent development and business resilience with potential direct reports (1 to 2 direct reports).
Employment Type
Full Time
