Description
As the Senior L&H Performance & Planning Analyst, you will provide insights into the L&H reinsurance portfolio throughout the annual reporting cycles of Landing, Analysis of Actuals vs. Operating/Strategic Plan targets, and updating annual forecasts plus additional standard and ad-hoc analyses.
This role requires a strong technical understanding of the IFRS 17 and Solvency II framework and underlying cash flow modeling methodologies as well as the underlying data models. Additionally, you must be an effective communicator, capable of engaging with key stakeholders, including reserving and finance teams, as well as L&H business unit. Enjoying processing data and structuring them to provide meaningful analyses, combined with curiosity to connect analyses with business developments, is a key success factor. Current transformation and simplification ambitions will need your input to increase efficiency by increasing the level of automation to gain time for deeper and more meaningful analyses.
You will support operational processes as well as the global coordination of annual planning exercises. Understanding the business targets and their translation into IFRS and Solvency 2 financials is key to critically analyze financial planning deliveries from regional teams and their consolidated picture. Monitoring actuals against the plan throughout the quarterly financial closings is crucial for business performance monitoring and to build up-to-date full-year forecasts during the year. The broader team also covers the analyses of actual Financial Results and interaction, and cross-functional activities will also be part of your day-to-day work.
Responsibilities
Forecasting of Financial Performance & Strategy Planning:
* Collaborate with cross-functional teams to develop long-term financial plans and strategies.
* Improve and design efficient processes supporting local and central planning exercises
* Consolidate and analyze forecasts of financial performance for the operating plan and full year landing updates
* Process data and adjustments to data into our planning tool and ensure consistency across several KPI frameworks (IFRS, Solvency, operating cashflow)
* Analyze plan data against previous plans and actuals and summarize results in meaningful and clear documentation to senior management and key stakeholders
* Assist our stakeholders in interpreting planning data correctly
Performance Analysis:
* Support the production of the quarterly landings for group IFRS 17/ Solvency II purposes.
* Support the understanding and analysis of quarterly financial information relating to L&H reinsurance business in accordance with Solvency II and IFRS17.
* Conduct variance analysis to compare actual performance against operating & strategic plan, identifying key drivers and trends.
* Execute multi-year performance analyses
* Communicate the results of the performance measurement effectively to senior leadership teams.
Transformation and Simplification
* Responsible for simplifying and transforming relevant processes such that majority of time is devoted to analysis of results versus production of figures (80/20 split expected between analysis/production)
* Contribute to development of tools within context of wider group developments and to adoption of available technology in order to maximise the efficiency of our processes
* Utilize technology to perform job functions more efficiently and to further automate the production processes. Share technology solutions with other associates.
Qualifications
We are ideally looking for someone who has the following experience and personal competencies
Experience:
* Minimum of 5 years of relevant experience in actuarial, accounting, reporting, data analysis, or insurance audit.
* Ideally, a qualified (or near-qualified) Actuary with strong knowledge of IFRS 17 and other economic frameworks
* Specific Life (Re)Insurance experience beneficial and preferred
* Robust analytic and critical thinking skills with strong problem-solving ability
* Demonstrated ability to analyze and synthesize information from different sources or departments to understand the bigger picture
* Proven experience in communicating complex financial information to multiple stakeholders and capability to take to consider different perspectives
* Ability to address issues from a macro perspective and delve into details when necessary.
* Strong multi-tasking abilities, with a preference for candidates with good project management experience
Personal Competences:
* Innovative, versatile & committed
* Excellent PC skills in MS Office environment, including Excel, Word, Power Point and MS Teams
* Possess good project management skills set
* Excellent analytical skills
* Experienced in handling and processing of large data
* Professional and clear communication and strong interpersonal skills
* Self-motivated and reliable individual
* Enjoys building a world-wide network with different teams
* Curious to understand and connect financial results with the underlying business
* Willingness to travel