Oracle Actuarial / IFRS 17 / LDTI / Subject Matter Expert in Lehi, Utah
As a recognized authority and leading contributor within their practice, this senior-level consulting position provides consistent high quality and innovative solution leadership to a project team. Leads the solution design and implementation aspects of engagement(s) ensuring high quality, integrated software solutions within constraints of time and budget.
Analyzes business needs to help ensure Oracle solution meets the customer s objectives by combining industry best practices, product knowledge, and business acumen. Exercises judgment and business acumen in selecting methods and techniques to deliver functional and technical solutions on non-routine and very complex aspects of applications and technology installations. Provides direction and mentoring to project teams, and effectively influences customer leadership on key decisions. Supports the business development efforts by pursuing new opportunities and extensions. Collaborates with the consulting sales team by providing domain expertise. Resolves complex customer issues by recommending and implementing solutions. Demonstrates expertise in multiple business processes across two or more product families or ability to architect and design technology solutions encompassing multiple products and make decisions based on impact across the stack.
8-10 years of experience relevant to this position including 4 years of consulting experience. Prior team leadership or management experience preferred. Undergraduate degree or equivalent experience preferred. Product or technical expertise relevant to practice focus. Ability to communicate effectively. Ability to build rapport with team members and clients. Strong influencing and negotiation skills. Ability to travel as needed.
Oracle is an Affirmative Action-Equal Employment Opportunity Employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, sexual orientation, gender identity, disability, protected veterans status, age, or any other characteristic protected by law.
Actuarial / IFRS 17 / LDTI / Subject Matter Expert
Oracle Financial Services Global Business Unit (FSGBU) is a world leader in providing IT solutions to the financial services industry. Oracle is the world s largest enterprise software vendor with 286,000 global customers and USD 22.4 billion in revenue. Oracle s customers include ten of the top ten global banks, ten of the top ten insurance companies, ten of the top ten securities firms, five of the top five mutual fund companies and four of the top five World stock exchanges. With the experience of delivering value-based IT solutions to over 840 financial institutions in over 130 countries, the FSGBU understands the specific challenges that financial institutions face: the need for building customer intimacy and competitive advantage through cost-effective solutions while, simultaneously, adhering to the stringent demands of a dynamic regulatory environment. Our solutions have the world's most comprehensive and contemporary banking applications and provide a technology footprint that addresses their complex IT and business requirements. The solutions include, but are not limited to: - Oracle FLEXCUBE : A complete Universal Banking Product suite for retail, consumer, corporate, investment and internet banking, consumer lending, asset management and investor servicing, including payments (SWIFTNet and SEPA). Since its launch in 1997, over 354 financial institutions in over 120 countries have chosen Oracle FLEXCUBE. - OFSAA: The Oracle Financial Services Analytical Applications Suite of Solutions for Governance, Risk and Compliance.
Seeking a Subject matter expert to guide and provide industry best practices to implement OFSAA International Financial Reporting Standard 17/Long Duration Targeted Improvements (LDTI) at our Insurance institution clients. Consultants shall become experts in Oracle s unique Financial Services Analytical Applications (OFSAA) and support our clients in their transformation initiatives including Risk management and Regulatory compliance
OFSAA Subject Matter experts shall provide advisory guidance on LDTI, based on industry practices and market drivers.
OFSAA SMEs will participate in multiple client implementation programs and will be directly involved in LDTI implementations. Will be reporting directly to Regional Director/Engagement Director. An SME must work closely with both Technical and Functional subject matter experts, and other team members to successfully deploy OFSAA IFRS 17/LDTI applications.
Under senior management s direction, conduct workshops, participate in RFP requirements analysis, effort estimation, design, model assessment and build, implement and deploy Oracle OFSAA IFRS 17 application utilizing Oracle s project management methodologies.
Will Function as SME involving Knowledge of Insurance, Banking or accounting expert in one or more of the following areas:
o Life, P&C
o Basel, Liquidity Risk, Credit Risk
o Policies and processes, credit appraisal and monitoring, credit training and scoring, credit derivatives and credit portfolio management, securitization and loan approval for retail and SME, with experience in credit scoring and IT solutions.
o Operational Risk.
o Audit in banking, financial services, and Operational Risk Management.
o Candidates with experience in implementing RSCA/KRI frameworks or Basel II, Operational Risks or SOX will be preferred.
o Implementation of Basel and good knowledge of Basel and local regulatory guidelines.
o ALM / Treasury Operations
o One should be able to analyse and provide inputs on risk rating, score card development and development, implementation and validation of quantitative models in credit, market and operational risk areas.
Review client business requirements and suggest best practices to implement LDTI solution in OFSAA IFRS 17 application
Work with LDTI client SMEs and accounting team to describe OFSAA LDTI implementation approach
Use prior knowledge of insurance products and experience with the typical data elements required to craft OFSAA based solutions for medium-to-complex business requirements.
Provide advisory services on data requirements for LDTI computation and modelling
Committed to high-quality and client service. Consistently deliver results and manage client expectations.
Clearly articulate and present solutions to client business audiences.
Keep abreast of product and industry updates and engage with broader consulting team to share best practices and contribute to knowledge management.
Demonstrate ability to quickly learn new concepts, relate them to client issues and craft solutions.
Provide functional and SME support to Insurance domain products.
Support all phases of deploying the OFSAA platform and applications at customer sites including business requirements, design, data requirements, modelling, configuration, user acceptance testing and go-live.
Interact with Functional and Technical Consultants to ensure the successful deployment of the OFSAA platform and applications.
Adopt and contribute to OFSAA best practice methodologies for knowledge dissemination throughout the OFSAA Delivery organization.
*Travel on some projects will be 100%. *
Knowledge of Insurance industry with expertise in one or more of the following areas
Strong written and oral communication skills as well as strong written and oral communication skills. Must be able to clearly articulate OFSAA product functionality and requirements to both clients and colleagues at all levels, from engineering staff to senior executive management.
IFRS17/LDTI transformations (IFRS systems selection, implementation, and business transformation)
Insurance sector in functional areas: finance, accounting, actuarial, or data & systems
Experience in IT industry implementing software products for insurance (Life/P&C Reinsurance) sector
Experience in actuarial reserving for a Life/P&C company
Experience in Pricing, Valuation, and Modeling of Insurance products
Implementation experience and good knowledge of US and/or Insurance regulatory guidelines
Experience with other IFRS 17 vendor solutions (SAS, Moody s, Aptitude, Tagetik, etc.)
Strong customer interaction skills and the ability to assess a client s IT processes and strategies. Mature, self-starting, self-motivating, and capable of making decisions independently.
Knowledge on solutioning LDTI requirements for an insurance or financial institution using any product or home grown applications
Knowledge on accounting principle, policies and procedures for LDTI.
MBAs (Finance or Accounting), CPAs, Bachelors or Master s degree in Actuarial Science with at least 5 years of relevant insurance or actuarial experience within the insurance sector; whether within the insurance firms, consulting firms, or insurance analytics KPO firms.
Participate in reviewing functional requirements
Review RFP and assist in effort estimation based on functionalities to be implemented
Participate in knowledge transfer workshops with internal implementation and product organization on LDTI and modelling requirements.
Perform functional gap analysis between OFSAA IFRS17/LTDI product and client requirements.
Assist in functional design of gaps identified in the gap analysis
Provide consultancy services on functional issues reported
Provide walkthrough of data requirements.
Understand client applications/source systems and perform
o Data assessment,
o Data Mapping
o Gap analysis and mitigation
Participate in internal testing process and create test plan, data and expected results.
Support clients during acceptance testing.
Co-ordinate and work with internal Oracle teams
Title: Actuarial / IFRS 17 / LDTI / Subject Matter Expert
Location: United States
Requisition ID: 19001HPI