Financial Reporting

**Reference Number**:2288

**Contract Type**:Regular

**Working Time**:Full-Time

Hannover Re - more than 3,500 employees at locations all over the world. Our strength? Connecting Power: We rely on each other. As a reinsurer, we protect customers in the event of a claim. This requires customised, innovative solutions. Solutions that worked yesterday may be outdated tomorrow. We challenge ourselves and continuously optimise our services, advice and products. All this makes us one of the leading and most profitable reinsurance groups in the world and a reliable employer.

**You can look forward to**
- Main Duties:

- Overarching Role- Work closely with the Actuarial Valuation and Risk teams (RAV- PCV) at Hannover office to ensure involvement in decisions of various key assumptions and modelling used in the calculation of insurance liabilities under IFRS 17 that impact local P&C portfolios.- Aim to bridge IFRS17 knowledge, transparency, and awareness through value partnership with local Underwriters and other Stakeholder. Continuously reviewing and improvement of processes.- Play an active role to assess calculation for the Contractual Service Margin (CSM) as a critical component of IFRS 17 representing the unearned profit on insurance contracts. Contribute to narrative reporting on drivers for CSM development.- Contribute with local business knowledge to carefully drive estimates for future cash flows and the allocation of profit over the coverage period (AoE methodology).- Knowledge exchange with internal and external stakeholders such as independent auditors, analysts, and colleagues from Hannover Re's international network (such as GART forum, Actuarial Committees)- Participation in interdepartmental projects as well as interdisciplinary exchange with colleagues from IT, Underwriting and Accounting- Plan and carefully drive the implementation of Ind AS117 and RBC- Coordinate between internal reserving team and signing actuary, scrutinise /review work related to IBNR reporting and any other regulatory reporting.- Resolve all internal and external ( auditors/IRDAI) queries related to the reserving functionReserving- Compiling and processing actuarial reserve analyses for P&C business for relevant financial statements (IFRS 4, IFRS 17, Solvency II). Assess and Sign off Local Steering File and Input to Valuation together with responsible Underwriters.
- Further development of methods and systems for reserve determination and analysis.
- Provide analysis for P&C portfolio / cohorts /segmentation view and related date entries to ensure modelling applied is consistent and in line with reporting standards, under various accounting regimes.
- Attend and contribute to Valuation Reserving meetings with P&C valuation (RAV-PVC) team at Home Office, Local UW and Finance Team.

Financial Reporting and Disclosures- Responsible for Planning and Forecast P&C in IBM
- Drive and produce relevant narratives on IFRS 17 financial statements and required disclosures. Providing explanations of the methodologies used and the impact on financial results (such as CSM development).
- Effectively communicate the implications of IFRS 17 on the financial statements. Serve as a bridge between the technical complexities of IFRS 17 transferring knowledge to local Management, Business functions and other stakeholders such as auditors.
- Collaborate closely with Group Finance (GF) teams to ensure that the data used in IFRS 17 calculations is accurate, complete, and appropriate for the purpose of financial reporting.
- Document checks and controls on SII and IFRS17 assumptions after quarterly valuation meeting with Actuary team at Home Office to enable local sign off.
- Compiling and analysis of IFRS17 planning and forecasting information in collaboration with GF teams at Home Office.

Other- Participate in GART forum and Actuarial Committees
- Support the management team with actuarial expertise.
- Play leading role in Ind AS117 and RBC implementation in close cooperation with Hannover Office Actuarial Reserving and Modelling team

**You come equipped with**
- Team player, problem solver, go-getter
- Qualified/nearly qualified Actuary (Non Life)
- IFRS17 knowledge desirable
- Advance Microsoft Office, IT skills
- Knowledge of Power BI will be an added advantage
- At least 8 to 10 years of experience in insurance industry and Non Life (P&C) actuarial valuation matters.
- Exciting Career Opportunity