Actuarial Basis and Assumptions Setting Manager

Purpose Statement

• To own and be accountable for the basis-setting framework, operating model, governance and controls - deliver robust and controlled assumptions through experience investigations, assumption development, impact assessment and governance processes - to coordinate basis-setting delivery across the Valuations and Modelling Department, establishing basis methodology, recommend final assumptions and optimise the basis-setting operating model.
• To be accountable for the operating domain (the basis-setting framework and assumptions portfolio), owning the basis-setting methodology, governance authority, operating model, final basis recommendations, and cross-functional coordination across basis-related activities. 

Education (Minimum)

Education (Ideal or Preferred)

Knowledge and Experience

Knowledge:
•    Advanced assumption-setting methodologies, best-estimate principles, experience analysis, credibility assessment and dynamic basis strategies.
•    Basis-setting operating models, annual planning, governance gates, ownership models, data readiness, dependency tracking and controlled production processes.
•    Experience database ownership, Insurance Data delivery models, validation controls, sign-off evidence, maintenance governance and future product database requirements.
•    Python-based actuarial applications, controlled automation, documentation automation and technology-enabled process improvement (where relevant).
•    Life insurance products, claims experience, policyholder behaviour, expenses, investment assumptions, IFRS 17, SAM, capital, forecasting, pricing and economic valuation requirements affected by assumptions.
•    Impact assessment methods including actual versus expected experience, individual basis change testing, analysis of surplus feedback, basis change impacts, IFRS valuations and budget impacts including impact on earnings emergence.
•    Basis governance, control design, model readiness, implementation dependencies, audit walkthroughs, HAF sign-off processes, peer review of insurance bases and ORSA adverse scenario principles.
•    Regulatory, IFRS 17, SAM, capital and management reporting requirements relevant to actuarial assumptions and outputs.

Experience:
•    10+ years of post-qualification actuarial or insurance finance experience, including significant experience in assumption setting, basis analysis, experience investigations, impact assessment and governance.
•    Proven experience leading and owning basis-setting operating models, annual basis plans, governance gates, ownership models, data readiness, experience investigations, assumption development and final basis recommendations.
•    Demonstrated experience owning assumption pack frameworks, basis change registers, impact dashboards, executive packs, ALCO/management decision-support material, basis-setting reports and HAF sign-off processes.
•    Proven experience applying advanced actuarial judgement to credibility, trends, sensitivities, business mix, operational changes, short-term market events, external benchmarks, financial impacts, pricing implications, regulatory implications and strategic trade-offs.
•    Significant experience designing and overseeing controls over data readiness, experience investigations, assumption calculations, documentation, approvals, model implementation, scenario testing, reconciliations, post-implementation checks and experience database maintenance.
•    Experience owning or leading basis-setting applications, controlled automation, governance workflows, and process improvement initiatives.
•    Experience providing audit walkthroughs, peer review of insurance bases, ORSA adverse scenario input and governance evidence.
•    Demonstrated ability to coordinate complex basis-setting projects with valuations, modelling, data and finance teams.

Skills

Additional Information