Valuation Manager from a Direct Insurer (Singapore)
Critical Tasks and Expected Contributions/Results:
To support on APAC valuation tasks such as:
- Value insurance technical liabilities under US GAAP, BE GAAP, STAT & IFRS 17
- Develop actuarial methodologies and assumptions considering relevant financial, claims, underwriting data.
- Ensure reserving processes and standards are consistent with actuarial policies and guidance, as well as compliance with local regulations.
- Enhance and automate existing processes and controls using programming, modernize valuation models to report monthly reserves on a timely and accurate manner.
- Monitor reserves adequacy and provide insights on drivers, including reconciliation of views on profitability between reserving, pricing & plan.
- Assess the company’s financial condition (i.e. ORSA, IWST, Actuarial Investigation Report & Actuarial-focused Returns).
- Align reserving processes and models and tools across APAC entities.
- Support other functions on reserving, business initiative & projects and strategic business decisions as relevant.
Key Challenges/Anticipated Changes in Environment:
- Be able to juggle priorities and work under pressure to meet tight deadlines.
- Be high degree of personal, high intellect, strong financial acumen; with professional integrity and be able to balance and apply actuarial principles in a commercial setting
Developmental Value of Position:
- Works well independently and takes ownership to influence team environment
- Possess a deep hunger and willingness to experiment in order to learn and grow further
- Dynamic individual with strong communication and interpersonal skills to productively interact with different colleagues
Experience/Knowledge, Education and Other Requirements:
- Bachelor’s degree in actuarial science or related field of study
- Associate in the Society of Actuaries, Institute of Actuaries, or comparable actuarial designation preferred
- Strong knowledge and experience of valuation and reporting process.
- Understanding in health insurance, health claim process, healthcare systems, IFRS17 is a plus.
- 5+ years of actuarial experience, with knowledge of the Actuarial valuation function and operating models
- Excellent English verbal and written skills
- Strong proficiency in Programming (macro), Microsoft (Excel, Access, Powerpoint etc.), Alterlyx, AWS, ResQ, SQL and Tableau preferred
Personal Competencies Required:
- With knowledge of the Actuarial valuation function and operating models
- Strong analytical and numerical skills, applied to insurance and finance data domains
- Ability to apply technical knowledge and skills in automating and streamlining work processes
- Fast learner. Be able to pick up tasks assigned in fast turn-around time, timely and accurately, in order to spot out and escalate critical issues to be discussed throughout the whole process.