ARCS GmbH

Applying actuarial expertise to create management insights

CV

Curriculum Vitae of Oliver Stoll

CEO and Actuary, ARCS GmbH

Since 2014

Supporting the financial industry in actuarial modelling, reporting, valuation, risk management and as Appointed Actuary.

Since March 2020: Separately working with two CEE entities of a large insurance group: Review and optimization of RAFM models and integration of RAFM projections in Unify process management environment. Developed an approach for RAFM external sources which made upgrade much easier to implement and more transparent for team members.

Since mid 2017: Working with a regional life insurance company in Germany: Currently serving as project manager for an update of the actuarial reporting process. Previous tasks were: Upgrading and improving the quality of RAFM models and streamlining reporting processes; methodology development; analyses and automation using SQL; implementation of a life reinsurance contract in the reporting process; review of data quality in policy administration system; programming of standard database templates to be used for quarterly reporting.

Since 2016: I am supporting an asset management company by reviewing the valuations of investment projects.

2015 – 2017: Worked with one the largest German life insurers on the implementation of a new actuarial and risk capital calculation system. This included model validation and IMAP with the regulator, implementing new reporting processes, liaising with IT, asset and risk management and developing new methodological approaches.
Before, I supported its Group actuarial department with the redesign of their MCEV methodology, based on a SII MVBS approach: I have performed an extensive gap analysis and resolved these with stakeholders from actuarial, risk, accounting and asset management. I have also rewritten the entire MCEV methodology manual.

In 2014, I have supported a Dutch insurance group with their SII programme – I served as senior consultant in the Group Risk Reporting team:

  • Risk capital reporting: validating and analyzing results, responding to requests for advice from local units, writing reports to management and regulator; developing validation tools in Excel; improving processes and documentation.
  • Methodology: Gap assessments, recommending upgrades where necessary, responding to requests from internal stakeholders and regulator (as a part of the IMAP process). I have identified a major gap in the currency risk module and have provided instructions how to close it.
  • Coaching junior staff in particular in the effective use of tools (including Excel), processes, controls and documentation.
  • SII QRTs: Providing guidance for additional data collections and suggesting processes to cope with additional reporting requests by the Group regulator.
Director, KPMG Switzerland

2012- 2013

Together with the actuarial partner, I was in charge of building up actuarial capabilities for KPMG Switzerland. I was responsible for reaching out to our life insurance clients and in close touch with teams from advisory, tax, regulatory and IT to offer cross functional services to our clients. Projects I worked on:

  • Improvement of a client’s economic value based reporting process with focus on increased controls, automation and reduced production time – to ensure process is sufficient for upcoming Solvency II production runs;
  • Due diligence projects for two EU based companies: valuation of reserves, assessment of risk capital requirements;
  • Audits (with focus on interest rate and longevity assumptions as well as
    processes, controls and documentation);
  • Actuarial valuation of reinsurance contracts for pension funds;
  • Review of cost processes for group life business, in particular cost allocation mechanisms and pricing of cost premiums.

In 2013, I was elected member of the board of trustees of the KPMG pension fund which manages assets of around CHF 500m, and was part of the investment committee, making strategic asset allocation decisions.

Senior Manager, PwC Switzerland

2010 – 2012

As a senior manager, I was leading audit and consulting projects within the actuarial team. I managed the actuarial client relationship with two major audit clients and lead various risk management and economic capital projects. I built up modeling capabilities within the team, in particular for Prophet.

  • I was leading actuarial audit teams for insurance clients and investment funds and was auditing IAS 19 pension fund valuations.
  • I lead an internal Solvency II model validation exercise for a local subsidiary of an insurance group;
  • I lead a project abroad where I helped a client to update their current Prophet model to ALS, and defined which additional features had to be implemented due to Solvency II requirements;
  • I have supported a client in setting up a Swiss Solvency Test model with focus on a transparent and flexible set up;
  • I have advised an international insurance group in streamlining their actuarial models in one region;
  • I served as subject matter expert on various modeling projects.
Senior actuary at Group Life Actuarial,
Zurich Insurance Company (Corporate Center)

2007- 2010

Head of Life Actuarial Model Development and of Bratislava Life Actuarial Services
I was in charge of implementing a strategy of centralizing and streamlining actuarial modeling processes:

  • I have opened and was leading a shared service center of ten actuarial modeling experts in Central Europe, who were working on calibration of replicating portfolios, Prophet models, MCEV calculations and other ad hoc requests;
  • I had an interim role of performing the actuarial duties for one of Zurich’s then new country offices, including MCEV reporting;
  • I have reviewed contracts with Zurich’s main actuarial software provider and negotiated a contract that reflects the centralized one Zurich view. Through improved cost control over local contracts, I was able to cancel redundant services and saved about USD 450,000 in IT fees over a period of three years.

Senior Embedded Value actuary
In my role as senior actuary, I had responsibility for Zurich’s Embedded Value reporting:

  • Drafted quarterly Embedded Value reports for external publication;
  • Drove forward Zurich’s Embedded Value methodology – I have implemented new MCEV standards for the Group in particular for CRNHR;
  • Represented Zurich at the CFO Forum’s technical workgroups and ensured new standards also reflected Zurich’s requirements;
  • Supported local business units with MCEV reporting issues and validated their submissions.

Internal Consultant
At the Internal Consulting unit, I worked on strategic internal projects, designing and implementing analyses to monitor KPIs used for these initiatives. This task required close collaboration with senior management and a wide variety of stakeholders within the Group and local units.

Risk Manager with
Baloise and Swiss Life

2004-2007

Participated in an advisory committee for the design and implementation of a group wide dynamic ALM system.

Provided support for a local entity for the monthly risk reporting. Organized the monthly strategic asset allocation reviews, improved reporting requirements and initiated feedback sessions.

Organized a workshop on the modeling of liabilities, and presented the group’s approach on modeling unit linked contracts.

Initiated a case study for the introduction of an asset liability management system within the group.

Modeled a subsidiary’s business lines using the Prophet based library Life-DFA and evaluated asset allocation strategies with respect to various risk metrics.

Organized the Life part of the group wide Swiss Solvency Test field study, trained local colleagues with respect to the methodology and evaluated the overall results for the group.

Consultant,
Tillinghast Towers Perrin Germany (now Willis Towers Watson)

2001-2004

Mainly worked in Germany, Switzerland, United Kingdom and Poland, with special focus on life and health business.

Major work areas were: Embedded Value reports, modeling of life and health insurance business in TAS and MoSes, product development and market entry studies. Was concerned with doing the concrete calculations, advised clients on setting of appropriate assumptions, implementing MoSes libraries, compiling reports stating our findings and recommendations.

University studies
(Diploma and postgraduate programs in mathematics)

1992-2000

Geometrical evolution equations and gravitation theory

Universität Tübingen (Germany), till 2001
University of Oregon (Eugene, USA), 1995 – 1996
Monash University (Melbourne, Australia), 1999 – 2000

Academic degrees:

Diplom: 
Mathematics, grade: “very good” (best possible grade, 3rd best in class)

Vordiplom:
Mathematics, grade: “very good” (best possible grade)
Physics, grade: “very good” (best possible grade)

 
Professional Qualifications