The mission of the Actuarial Reporting Analyst in the Group IFRS 17 team consists in analyzing and explaining preliminary IFRS17 simulations and results received from entities and in launching simplified simulations (with existing models to be refined if need be) in a R&D mode.
This will help the redesign of the P&L and KPIs related to Management Information induced by the future entry into force of IFRS17 norm in 2021, with a focus on changes due to actuarial methodologies.
The holder of the positon will work in close collaboration with the other managers and expert of the IFRS17 team (Actuarial, Accounting data, systems & processes, etc ) and with other PBRC Actuarial, Norms, Investor Relations, GRM, AGS stakeholders.
Finally, he will also be a key interlocutor for local entities
The IFRS 17 norm was issued in May 2017 and applies to annual reporting periods beginning on or after 1 January 2021.
IFRS 17 represents the biggest accounting change for insurers in many years. The consequences of that new standard are not limited to a change in the measurement approach of technical reserves, the timing of P&L recognition and in the presentation of insurance companies’ financial statements.
IFRS 17 requires also important changes in core systems and processes used in financial reporting; in operating models with higher interaction (or convergence) between actuarial and financial resources, in performance measurement and in financial communication.
Once in place it will have also consequences in capital management, product design and investment strategies.
The implementation of IFRS 17 is seen as much challenging as Solvency II and much more complex from accountings systems and processes point of view, the whole with a shorter implementation timeline and a lower preparation.
In a nutshell, not only IFRS17 will merge the frontiers between actuarial and accounting but will also impact almost all business processes.
The PBRC Department within the Group Finance Department is responsible for accounting consolidation and financial and actuarial reporting of the Group.
These missions are performed for regular closings, forecasts and strategic plan exercises. PBRC works with local PBR units within the Finance Departments of Group subsidiaries.
Within PBRC, the recently created IFRS17 project team is in charge, from a Group perspective, of the monitoring of the implementation of the IFRS17 norm.
The program team includes 4 sub-teams, organized by domain of focus :
The holder of the position will mainly have to :
Technical and professional skills
Technical and professional skills :
Soft skills and competencies :
Profession and educational background
Professional experience :
Academic background :
What We OfferPossibility of joining the leading IFRS17 team