We are looking for an IFRS 17 Technical Consultant to continuously review the IFRS17 regulations and evolve the Client's methodology as appropriate.
The role is to be broken down as follows:
- Communicate changes to project team and key stakeholders
- Liaise with stakeholders to develop and agree an implementation approach for the methodology decisions. Prepare and present papers to the project Design Authority.
- Obtain appropriate approval for each methodology decision by presenting papers to the IFRS 17 project Design Authority.
- Liaise with Auditors to obtain their views and opinions on the methodology and refine / adapt as required
- Document the regulations and their translation into Client's methodology, ensure documentation is up to date and fit for purpose to hand over to the business at the end of the project
- Ensure that the regulatory requirements and methodology decisions are appropriately reflected in the business requirements documentation for the project.
- Support the WS leads develop the business requirements ensuring alignment to regulatory requirements and methodology decisions and resolve any issues /challenges arising.
- Support the system design and build to ensure the regulatory requirements and methodology decisions and resolve any issues /challenges arising (IFRS 17 calculation engine, Data Store and General Ledger)
- Support testing through provision of regulatory and methodology knowledge
- Work with business to review and revise methodology if changes are required at any stage in the project
Training and Knowledge Sharing (25%)
· Working with the IFRS 17 lead propose a training program on regulations and methodology to ensure knowledge is shared with each business unit and division
· Develop the materials and work with the project team to ensure fit for purpose for each part of the business
· Deliver the training including transfer of knowledge to business teams and key stakeholders
· Support the parallel runs through liaising with the project team to ensure their understanding of the IFRS17 regulations, methodology and application to the systems.
· Work with the Project lead to develop a practical approach to developing transition calculations
· Lead the development of the transition methodology and support the business in the analysis of how to achieve the transition
· Support the development of tools and processes to enable calculations for transition to be completed
· Apply technical knowledge and understanding to enable business to finalise and confirm acceptance of the resulting transition amounts and communicate the impact to key stakeholders
To Be Design (10%)
· Support the development of the To Be design and financial reporting processes through attendance at workshops
· Ensure resulting designs, processes and controls are aligned to regulatory requirements and methodology
If you are interested, please email your CV to firstname.lastname@example.org
This is a consultancy project for a South African insurer, working with the consultancy team/lead in order to meet client deliverables. The work will be virtual for the time being, but if the need arises for the consultant to be in office, it will be at their own expense.
The position will entail a trial period of 6 weeks, with an initial work week of 3 days per week, working remotely. During the trial period, the applicant will receive training in the current systems in place. This position will be from a data science and actuarial perspective; experience in these fields are not required but will be advantageous, as will knowledge of accounting standards.
There may be potential for a longer term role if both parties agree. The position will be with Dupro Ltd UK, trading both as Dupro Advisory and Actuartech. Dupro Advisory is a niche actuarial consulting firm expanding into the development of actuarial software solutions for clients. Actuartech provides leading research and insights into actuarial technology, providing training and events on various topics integrating data science into actuarial spheres.