Stephen O'Sullivan Email and Phone Number

Actuarial Consultancy

Senior Project Actuary - WP Modernisation Programme

Internal Model Harmonisation Programme (IMHP) & Internal Model Operational Readiness (IMOR)- Led a team of actuaries/trainees in the production and delivery of IMHP SCR results for Phoenix/Standard Life. This resulted in the PRA approving the first harmonisation of two internal models in the UK.- Oversight and responsibility of written commentary and well as presentation of results to senior stakeholders including the Chief Actuary, Line 2, Senior Project Management throughout project lifecycle.- Setting out of strategy to be followed throughout project lifecycle and (re)planning for direction/tasks to achieve aims to meet with extremely challenging deadlines.- Point person for SLAL entity with any Line 2 queries- Co-ordinated and analysed a series of ‘dry runs’ (IMOR) to land the harmonised internal model into the business in order to make operationally ready for ‘go-live’, again to very challenging timelines.- Trained and linked in with BAU teams to embed model into the business which included providing support on first production cycle.

Liquidity Model Development (circa 3.0 yrs):- Developed and implemented a simulation-based solution for the liquidity reporting metric under stress. This solution put liquidity stressing on an equal footing with that in place for the derivation of the capital SCR. - Developed a process for sourcing and producing fitting data, proxy function generation, prescribed tweaks to simulation model (variant of Risk Agility EC), and developed downstream analysis workbooks. - Implemented a control framework to meet with Risk, Audit and general Governance requirements. - Carried out all necessary scoping, requirements gathering and testing, together with associated documentation.- Embedded the new process within Capital Modeling, provided relevant training and documentation required to run process within BAU.- Created a project plan together with re-planning over project cycle. - Led a small team of 1-2 actuaries over project cycle. Involved with selection and recruitment of another contractor onto the project team.- Presented results, progress and highlighted technical issues (together with solutions) regularly to senior management, as well as to Chief Actuary on occasion.IFRS Reporting Role (circa 0.5yrs):- Actuarial Reporting Team – IFRS Profitability and Pillar 1 reporting metrics. - Carried out an independent validation of the valuation interest rate derivation across the sub-entities and presented findings and recommendations to the internal model governance committee (IMGC).

- Provided support to With-Profits Team – methodology review, bonus setting for Annuities and board papers.

– Worked on an internal project aimed at redressing known discrepancies between what was promised to policyholders and what was actually happening in practice.

- Performed a Quality Assurance (QA) role across Aviva’s product range on investigations carried out by rectification project actuaries and actuarial trainees. My role was to question and improve the review work done and to ensure appropriate documentation was in place to meet with Internal Audit/Risk standards.

Economic Capital Calculator (ECC) - Reporting to the Life Principal Product Actuary- Designed and built a series of Excel based test harnesses in order to independently verify the internal calculations of this new product. Carried out User Acceptance Testing (UAT).- Gained exposure to contributing underlying models - Liability Proxy Generator (LPG) and the Risk Scenario Generator (RSG).- Contributed to the final ECC Model Requirements.

Solvency II Model Development Team (circa 2.5yrs)- Delivered stochastic model enhancements to meet the demands of the incoming Solvency II reporting regime, by:- Proposed and implemented fit-for-purpose stochastic model solutions - this mainly involved bringing existing “out-of-model” adjustments into the stochastic MoSes model.- Documented and implemented the model changes proposed.- Carried out the user acceptance testing required for signoff.- Communicated and discussed constructively with all stakeholders throughout to ensure the success of all my projects across development cycles. Finance Transformation Programme – FTP (circa 1 yr)- Carried out all necessary user acceptance testing to show that results arising from changes to existing/proposed new software were in line with expectations. - Communicated with the European Embedded Value (EEV) business unit the changes that were being proposed as part of the FTP. EEV Reporting – Provided support to EEV reporting team.

- EEV Financial Reporting Role for Unitised Pensions New Business products.- Point of contact for Auditors questions.- Reconciled the Management Information and Valuation systems by identifying key areas of misalignment.

- Identified discrepancies between the actuarial product specifications, policy conditions, marketing materials and how the system administered certain UWP contracts

Embedded Value (EV) Product Analysis Unit Linked Business – Team Leader- Managed a team of three actuarial students - appraisals, training, and project planning for year end/interims.- Modified existing Prophet models to cope with changes to products. - Analysed movements in EV across economic/non economic changes. Value of New Business (VNB) – Team Leader- Managed VNB work stream to tight deadlines – project planning, providing progress updates and training.- Produced and analysed new business figures. Provided rationale for any changes to product margins including reconciliation with forecasts. Presented results according to end user requirements.

Statutory Valuation – production of FSA returns.