Duties and responsibilities
Quarterly/Annual Solvency 2 Reporting
Generate and check the model points used for Solvency II calculationsUpdate the assumptions feeding into the Prophet model and perform reasonability checks on assumptionsRun the quarterly BEL calculations in Prophet including central BEL and BEL shocks for Life and Health Underwriting SCRComplete all outside Prophet calculations for Solvency Capital requirements, including Health CAT risk, Counterparty default risk, Health NSLT and Non-Life risks, Operational risk and LACDTPerform reasonability checks on all resultsDeliver results on time through internal reporting channelsSupport the Analysis of Change on BEL and SCR (twice a year)Calculate Risk margin on a quarterly basisPerform Solvency II Sensitivities calculations (twice a year)Provide high-quality commentaries on results as required by Management, Risk Management Function, other stakeholdersContribute to completion of all SII control cardsSolvency II Qualitative Reporting Templates (QRTs)
Gather relevant information for quarterly and annual QRTsDeliver QRTs on time through internal reporting channelsBudget
Review inputs from counterparties (future expected premiums/number of contracts)Ensure all relevant products (in force and new offer) are included in Budget projectionsProduce Budget results in ProphetDeliver results on time through internal reporting channelsReview results first independently, then with Reserving TeamContribute to commentaries and presentation of resultsORSA
Use budget information and other key inputs provided to calculate prospective Own funds and SCR in Prophet for ORSA for Central ScenarioAmend Prophet tables and model points, as required, to run ORSA stress scenariosComplete all outside-Prophet calculations for completion of overall SCRPerform reasonability checks and other analysis on resultsDeliver calculation on time through internal reporting channelsParticipate in writing ORSA reports and presentations
New Business Point of Sale
Generate and check the model points for new business point of sale exerciseUpdate the assumptions feeding into the Prophet model and include reasonability checks on assumptionsRun the annual New Business Point of Sale calculation in ProphetPerform reasonability checks on resultsCarry out Analysis of Change on New Business Point of SaleProvide quarterly estimates for New Business Point of Sale to Group taking into account assumption updates throughout the year
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