Role Title: Actuary
Business: Retail Banking and WealthManagement
- HSBC is one of the world’s largest banking and financial services organisations. We serve more than 40 million customers through four global businesses: Retail Banking and Wealth Management, Commercial Banking, Global Banking and Markets, and Global Private Banking. Our network covers 65 countries and territories.
- HSBC is seeking a high calibre individual to join the Actuarial Function of HSBC Life Insurance (Malta) Ltd as an Actuary/ Senior Actuarial Analyst. The role is based in the UK.
- The jobholder will report directly into the Chief Actuary and will be responsible for a wide range of actuarial services to the entity, including Experience analysis, Financial reporting, local Regulatory reporting, Economic Capital, Annual Operating Plans, Projected balance sheet positions, Scenarios and Sensitivity assessments, Capital Buffer and Dividend proposals, Annual and Terminal Bonus declarations for With-Profits business, Asset Liability Matching, Reinsurance tenders, Model development and governance, Pricing and Profitability Assessments; and other ad-hoc project work such as IFRS 17.
- The ideal candidate will be a nearly qualified or qualified actuary with a minimum of 5 years’ experience in the Life Insurance industry with a positive attitude to drive the actuarial activities above whilst managing and developing junior colleagues.
- To contribute to the actuarial and risk integrity of the work of the business.
- To lead on relevant aspects of the engagement with the key stakeholders of the insurance function on issues which may be related to experience analysis, modelling, IFRS reporting, local statutory reporting, economic capital calculations, pricing, model governance and ad-hoc project work.
- Quality assurance of the team’s deliverables including junior member’s deliverables
- Provides support for queries from colleagues and act as a mentorto junior colleagues
- Ensures work undertaken meets best practice and recognizedactuarial standards (internal manuals and external as set by professionalbodies)
- Ensures compliance with applicable quality control andcontribute to improving operational effectiveness and control within the team.
- The jobholder will consider and allow for the operational risksassociated with the role and inherent in the business, taking account ofchanging economic or market conditions, legal and regulatory requirements,operating procedures and practices, management restructurings, and the impactof new technology.
- The jobholder will also adhere to and be able to demonstrateadherence to internal controls including relevant procedures, record keeping,where appropriate, by the timely implementation of internal and external auditpoints, including issues raised by external regulators.
- Stakeholders and other senior team members within HSBC who require actuarial and analytical support – acting as deputy when required within organizational limits of authority and scope of activity
- Provides support for queries from Actuarial colleagues
- To attend governance meetings to present actuarial papers in the absence of the Chief Actuary.
- To contribute effectively to team meetings
- To contribute to a productive team environment
- Maintains standards/requirements for actuarial work undertaken by the team
- Acts as career/study mentor to junior staff
- Ensures work undertaken meets best practice and recognized actuarial standards (internal manuals and external as set by professional bodies)
- Ensures compliance with applicable quality control
- Supports and mentors colleagues on improving operational effectiveness and control within the team.
- Leadership on:
- Actuarial activities within the team e.g. reporting, economic capital, modelling, pricing and ad-hoc projects,
- Knowledge of insurance product and regulations in domestic markets.
- New and emerging industry practice appropriate to role.
- No direct budget
Observation of InternalControls
- The jobholder will also adhere to and be able to demonstrate adherence to internal controls including relevant procedures, record keeping, where appropriate, by the timely implementation of internal and external audit points, including issues raised by external regulators.
- The jobholder will consider and allow for the operational risks associated with the role and inherent in the business, taking account of changing economic or market conditions, legal and regulatory requirements, operating procedures and practices, management restructurings, and the impact of new technology.
- This will be achieved by ensuring all actions take account of the likelihood of operational risk occurring.
- Also by addressing any areas of concern in conjunction with line management and/or the appropriate department.
Knowledge &Experience / Qualifications
- A nearly qualified or recently qualified actuary (FIA or equivalent) – Essential
- Good understanding of the actuarial activities carried out in a Life Insurance company and appropriate level of product knowledge.
- Ability to apply knowledge of financial services products to a working environment - Essential.
- Ability to communicate information in a confident and structure manner to all levels of management.
- Ability to influence business managers, to establish and maintain co-operation.
- Good organisational and planning skills.
- Ability to operate within cross functional teams.
- Leadership and customer relationship management skills is highly desirable
- Ability to apply knowledge of financial services products to a working environment.
- Knowledge of Excel, VBA, SAS and/or Prophet is desirable
We are a diverse workforce and it is part of ourorganizational culture, it reflects our belief that diversity of thought,background and perspective make HSBC a stronger organization. We strive toimplement a culture that is inclusive, diverse, positive andperformance-oriented. Having a diverse workforce allows us to benefit from avariety of perspectives and strengthens our local and global competitiveness.We value diversity in our workforce and encourage all qualified candidates toapply from a variety of perspectives and strengthens our local and globalcompetitiveness. We value diversity in our workforce and encourage all qualifiedcandidates to apply.
As a business operatingin markets all around the world, we believe diversity brings benefits for ourcustomers, our business and our people. This is why HSBC is committed to beingan inclusive employer and encourages applications from all suitably qualifiedapplicants irrespective of background, circumstances, age, disability, genderidentity, ethnicity, religion or belief and sexual orientation.
We want everyone to beable to fulfil their potential which is why we provide a range of flexibleworking arrangements and family friendly policies.