Actuarial Manager recruitment
Job ID: 20674
Position Description:
SunGard provides IT solutions for the insurance industry in each of the following major business lines: life/health/annuities/pensions, property and casualty, reinsurance, and asset management. Our software and services support functions from the front-office through the back-office--from customer service and policy administration to actuarial calculations, financial and investment accounting, and reporting. SunGard's insurance solutions help your business capture growth opportunities, improve regulatory compliance and optimize overall performance.
More than 2,500 customer sites use SunGard's iWORKS solutions.
SunGard's iWORKS solutions are used in more than 50 countries.
More than half of the top 50 life insurance companies ranked in the Global Fortune 500 use SunGard's insurance solutions.
Business Overview:
iWorks Prophet is a leading risk management platform used by the financial services industry around the world to model companies' financial business. Prophet's enterprise architecture provides the power and performance for models to run in a secure and controlled environment and fits in with companies' end-to-end infrastructure to produce management information required by decision-makers.
Job Overview:
The main role will be to provide chargeable consulting services to clients implementing and using the Prophet system with an Actuarial Consulting team.
Duties and Responsibilities:
• Planning - assist clients with the planning process for major Prophet projects.
• Design - assist clients with all aspects of their Prophet implementation including model specification, structure and IT requirements.
• Integration - help clients to successfully integrate Prophet into their administration and reporting systems
• Development - help clients to develop Prophet models which meet their particular requirements.
• Review - perform reviews of client models and recommend enhancements and improvements
• Prophet Enterprise - provide assistance in running client models for "PE readiness"
• Management - advise clients with the ongoing management of their prophet environment
• Support with the development of the Actuarial Consulting Team and training the stuff for required customer projects.
Development Value:
• The candidate will learn to work directly with customers to implement Prophet and take ownership for Prophet implementation.
Position Requirements:
Person Specification:
Knowledge/Experience:
The candidate will be familiar with Prophet ALS/Life DFA and knowledge of the Asset and Global libraries. They will also have implemented at least three from:
(1) new business processing
(2) calculation looping
(3) rebasing
(4) goal seeking
(5) data grouping
(6) dynamic model point method
(7) in-memory dynamic processing
(8) extended formulas
(9) stochastic modeling
(10)
The candidate will also be familiar with the Data Conversion System (DCS) and Prophet Excel Reporting.
Qualifications / Prophet:
The candidate will have used the Prophet system extensively. You will possess a good working knowledge of the system including all of the following:
• Created products in at least one library and significantly amended products in others.
• Be familiar with one of the iWORKS Prophet ALM libraries: Asset Global Strategy, Life DFA or Asset Liability Strategy libraries.
• Have a good understanding of the features within the Prophet system and have implemented some of the following: new business processing, calculation looping, rebasing, goal seeking, data grouping, dynamic model point method, in-memory dynamic processing, extended formulas and stochastic modelling.
• Be aware of potential performance bottlenecks and solutions for stochastic and dynamic models.
Other Qualifications:
The candidate should ideally have substantial experience working in a life assurance department or consultancy. The candidate should be making good progress with the Institute of Actuaries or Society of Actuaries exams (or equivalent). We will also consider candidates with in-depth experience and knowledge in relevant areas.
Competencies / Industry experience:
The ideal candidate will have detailed knowledge in life assurance or financial services, and a general knowledge of the financial services industry's regulatory and reporting frameworks, including an awareness of at least two of the following:
• Realistic Balance Sheets (RBS)
• Individual Capital Assessments (ICA) and Solvency II
• European Embedded Values (EEV) and Market Consistent Embedded Values (MCEV)
• International Financial Reporting Standards (IFRS)
Actuarial Experience/Knowledge:
Experience in, and knowledge of, the business implications and impact on Prophet modelling of the following:
• Profit Testing.
• Product Design and Pricing.
• Revenue and Earnings Projections.
• Valuation methods, including embedded values and realistic valuations.
• Asset / Liability Modelling.
• Stochastic Modelling.
• Financial Economics and Derivatives.
• Analysis of Change.