Senior Actuarial Analyst

SUMMARY:
. This job is also remotely

POSITION INFO:

Scope of Services

The Services shall include the following:

Data Manipulation skills

• Collate the various sources of data relevant for completion of the CBR, working with the respective data owners and experts.
• Work with various business owners to build the different Management Information ("MI") in the format required for the CBR and help embed these in the respective business areas.
• Help define business rules for the different data types where there is ambiguity, such as Not Taken Ups ("NTU''s"), Replacements, etc., working with the Business Analysts on the project.
• Apply judgment and business knowledge where applicable, always striving for excellence and not perfection, for a sensible outcome.

            Documentation

• Drive documentation of how the CBR has been completed, which will feed into development of longer-term solutions, and minimise operational risk in the process.
• Keep the rest of the project team in the loop on progress made and direction taken, to avoid duplication and wastage of effort.
• Build consistency checks with other similar data/information that gets submitted to the FSCA or the Prudential Authority.

Data Analytics skills

• Check for internal consistencies, reasonability, and analyse what "story" the CBR is telling, prior to submission to the regulator.

Summary of types of data required

• Policies in force (count and annual premium)
• New Policies (count and annual premium)
• Policy movements
• NTU''s
• Paid Ups
• Lapses
• Surrenders
• Maturities
• Cancellations
• Cooling offs
• Cancelled by policyholders
• Cancelled by Insurer
• Claims
• Commissions, Binder Fees and Profit shares, and other Distribution related fees.
• Benefits (in force and movements)
• Advertising spends
• Where applicable the data must be split by:
• Product and Benefit type grouping, as per CBR mapping
• Target Market (defined by bucketing the Age at entry of the (policyholders).

Distribution Channel

• Where applicable the data must be split by:
• Product and Benefit type grouping, as per CBR mapping
• ï‚·Target Market (defined by bucketing the Age at entry of the policyholders).
• Distribution Channel

         The resource must Knowledge of the Liberty Process and Systems:

          Service Levels

• The Conduct of Business Return must be completed timeously and accurately, and ready for submission at the specified submission deadlines set out by the Financial Sector Conduct Authority ("FSCA"), which are 30 days after the end of the first quarter (30 April 2021), starting with Q1 2021.
• In the lead up to this deadline, the CBR must be submitted on a best effort basis at the FSCA specified timelines.
• The accuracy of the submission will be assessed against other existing sources of similar reports being produced across the business (e.g. financial accounting records, Prudential Authority annual submissions, other management information), and signed off by the relevant Subject Matter
• Experts (SME''s) and accountable parties.

The compilation of the information for all the respective sections of the CBR must be done on time to allow for thorough review and sign off in order to meet the FSCA submission deadlines.

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