Transamerica will being reporting earnings under IFRS 9 and IFRS 17 for the first time beginning with Q1 2023. The Transamerica IFRS 17 team has worked for several years to get ready for this event. However, the project will continue well beyond Q1 2023: • Training management and various teams throughout Transamerica on IFRS 17 • Refining IFRS 17 methodologies and assumptions • Helping understand and tell the earnings “story” under IFRS 17 • Making “on-top” adjustments to overcome current tooling limitations • Problem-solving: consulting with product actuaries, reporting accountants, the hedge team, and tax accountants to help solve questions or issues that may arise during the early quarters of IFRS 17 reporting • Projecting earnings and developing “rules of thumb” for helping management understand the expected pattern of earnings and the risks

This position will the model owner for Transamerica’s “Transition Tool Suite”, which is used for computing and projecting earnings and balance sheet results under IFRS 17. In addition, the person will help design and provide quantitative support for ongoing improvements to the broad set of IFRS 17 reporting tools and processes. 

The position will interact with a wide range of functions and specialties across the organization. The role is highly visible, so it will well position the successful candidate for a substantial role in the organization, after the project work is complete.

Responsibilities

  • Refines IFRS 17 methodologies and assumptions.
  • Helps understand and tell the earnings “story” under IFRS 17.
  • Reviews actuarial calculations and assumptions to use in financial reporting.
  • Coordinates, prepares, and performs actuarial analyses to understand IFRS 17 financial statements.
  • Prepares actuarial portion of financial reports or other documents (e.g., income statements, balance sheets, internal management reports, etc.).
  • Communicates actuarial research results to business unit management.
  • May develop, maintain and document computer-based programs, Sarbanes-Oxley procedures and model validation.
  • Maintains documentation of actuarial research and analyses.
  • Provides consultation and clarification on actuarial models and risk issues.
  • Coordinates and directs special actuarial projects.
  • May supervise one or more Actuarial Analysts, Actuarial Students or Actuarial Technicians.

Qualifications

  • FSA or equivalent professional designation along with Bachelor's Degree in Actuarial Science, Mathematics, Statistics, Economics or related field and 6 years of relevant experience. In lieu of Bachelor's in these fields, will accept Master's in a listed discipline and 4 years of relevant experience.
  • Demonstrates high quality leadership, judgment, organization and prioritization skills.
  • Effectively communicates, both verbally and in writing, advanced mathematical and analytical concepts to various audiences.
  • Works well under pressure and within time constraints to effectively accomplish individual and team objectives.

Preferred Qualifications

  • Programming skills.
  • IFRS 17 experience.
  • Superb computer skills.

Working Conditions

  • Normal office environment. 
  • Limited travel may be required.

Compensation 

**Please note that the compensation information that follows is a good faith estimate for this position only and is provided pursuant to applicable pay transparency and compensation posting laws. It is estimated based on what a successful candidate might be paid in certain Company locations.** 

The Salary for this position generally ranges between $117,000-$147,000 annually. This range is an estimate, based on potential qualifications and operational needs. Salary may vary above and below the stated amounts, as permitted by applicable law. 

Bonus Eligibility:

This position is also typically eligible for an Annual Bonus based on the Company Bonus Plan/Individual Performance and is at Company Discretion.