Assistant Manager, Discount Rate Technical and Execution Support for IFRS 17
Hong Kong, HK

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Project Halley is the Group-wide project for the implementation of IFRS 17 and IFRS 9, which will both be effective from Jan 2022.

The Group accounting policy and associated actuarial application guidelines will be formulated and implemented at local business unit level.

Financial impact assessment will be performed. Group office will work closely with and support local business units on implementing the new standard.

Discount rate, being a financially significant and technically demanding topic under IFRS 17, would require dedicated resource on its technical development and execution / production

The candidate will be responsible for the ongoing production as well as any related preparation, maintenance and review of the discount rates for different business units (BUs).

He / she will also be required to support the formulation and development of IFRS 17 discount rate methodology and tools during methodology development phase.

The candidate will work closely with external consultants as well as with members of different work streams within the project Halley team from Group Office and BUs.

He / she is expected to :

  • Be responsible for producing discount rate curves for model testing, and IFRS 17 Transition discount rate curves for parallel run during model development phase.
  • Be responsible for producing regular quarterly as well as out-of-regular-cycle production of discount rates for all BUs, once methodology and tools are finalised.
  • Support the rollout and socialisation of discount rate tools to BU. This includes conducting technical training, providing technical advice on implementation issues and performing high level review of the implementation results from BUs project Halley team.
  • Support the development and update of IFRS 17 valuation manual and methodology specification for system implementation.
  • Support automation implementation and model / tool maintenance and ensure clear and complete documentation on this.
  • Support refinement of discount rate methodology, as well as implement necessary changes to the discount rate tools as required.
  • Support work required for discount rate governance, both for internal review and external audit. This includes documenting evidence and rationale / justification on methodology chosen.
  • Support other out-of-production-cycle (e.g. model maintenance / enhancement) and ad hoc work related to discount rates (e.
  • g. sensitivity analysis).

    Requirements :

  • Knowledge on economic assumption setting and market data (source and availability) is preferred
  • Knowledge of programming language (e.g. VBA, R, DOS or Powershell) is a plus
  • Experience in IFRS 17 is a plus
  • Fast learner and be able to quickly get up-to-speed with the requirements in IFRS 17
  • Self-motivated and be passionate about participating in Group-wide changes
  • Strong analytical skills and be able to clearly present results systematically and logically
  • Team player with good communication skills
  • Embrace ownership in various tasks and be able to provide thoughtful recommendations
  • Build a career with us as we help our customers and the community live healthier, longer, better lives.

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