Manager - Actuarial

Manager – Actuarial

Union Assurance is a leading corporate and one of the fastest growing entities in the Life Insurance industry backed by the strength and stability of John Keells Holdings PLC, one of Sri Lanka's largest conglomerates.

The Job Role:

The person will be responsible for leading and driving the IFRS 17 implementation for the entire organization in collaboration with other departments.

Principle Accountabilities:

• Plan the IFRS 17 implementation for the entire organization
• Strategize medium- and short-term plans with regard to integrating data, cash flow, CSM and financial model
• Work closely with the external consultants and internal teams to identify areas of change because of the implementation
• Provide timely support to impacted departments in capturing required changes about IFRS 17
• Prepare a roadmap and key milestones in the IFRS 17 implementation journey
• Serve as the link between external consultants and internal team and addressing all data requirements raised by third-party consultants
• Work closely with the finance team and ensure all Actuarial and Finance interdependencies are addressed to ensure a smooth implementation
• Provide guidance to the finance team with any requirements from actuarial department regarding financial statements, reconciliations, disclosures and audits
• Responsible for timely delivery of tasks at each stage of the implementation (for Actuarial and other impacted functions)
• Develop IFRS17 Actuarial models and setting up necessary assumptions and parameters
• Conduct CF modelling, parameter and assumption setting, impact studies, work with calculation engines such as CSM to ensure the implementation is carried out
• Support the reporting team in capturing all required cash flows and business planning requirements from the beginning of the project
• Support the pricing team with new products introduced in connecting the IT/Finance and Actuarial systems together in implementation journey
• Support the valuation team in capturing required changes to models in the implementation journey
• Ensure smooth and quick turnaround in population of IFRS17 compliant financial statements and perform various analysis on the same after BAU

Qualifications and Experience

• A Bachelor’s degree in Mathematics, Statistics or BSc in Actuarial Science.
• A Full/Part qualification in recognized professional institute will be an added advantage
• Minimum 08 – 10 years’ experience in actuarial
• Strong mathematical skills and in- depth understanding of IFRS 17.
• Excellent Analytical, problem-solving skills and attention to detail is mandatory.
• Strong adaptability, work under pressure and capacity to work in fast-paced environments.
• Ability to work independently and in a team-oriented environment.

The selected candidate for the above position will be entitled to an attractive remuneration package. Applicants who are interested are encouraged to apply on or before 19th July 2025.