Job Listing

Job Duties

2nd Opinion on Reserves
- Lead Insurance Risks and work closely with the Head of Investment & Insurance Risks, Chief Actuary and VP Actuarial – Statutory Reporting on conducting 2nd opinion on the valuation of Reserve on yearly basis (minimum) which includes:
1. Statutory NPV Reserve
2. GPV Reserve on Best-Estimate basis
3. IFRS Policy Liabilities (AIFRS Reserve)
- Monitor closely NPV vs GPV LAT reserve and highlight if the gap is closing and understand the factors driving the gap.

Assumptions Review

- Lead Insurance Risks and work closely with the Head of Investment & Insurance Risks, Chief Actuary and VP Actuarial – Statutory Reporting on conducting 2nd opinion on annual best-estimate non-economic assumptions review which includes:
1. Mortality assumptions
2. Morbidity assumptions
3. Health Claims Ratio & Combined Ratio
4. Lapse / Persistency assumptions
5. Expense / Unit Cost Factor assumptions
- Download knowledge transfer from Group and Risk Management Asia in HK to conduct Mortality Improvement Study.
- Performed independent review analysis and challenge on the proposed new best-estimate assumptions if it is aggressive or not in-line with past trend experience.

Product Review/ Product Approval Process

- Lead Insurance Risks and work closely with the Head of Investment & Insurance Risks, Chief Life Product Development Officer and VP Pricing Actuary on highlighting strong risk opinions on new, repricing and restyling of products.
- Provide a 2nd eye review on pricing of product by building independent pricing spreadsheet and understand changes in OIC regulations especially for new products.
- Review current profit test spreadsheet to perform high level check on profitability results and perform additional sensitivities.
- Active involvement in the 1st and 2nd line activities within the most current Group Product Approval Process (PAP) and Guidelines.
- Regularly updated and knowledgeable in PAP guidelines and Risk Pack on product approvals, actively updated on product roadmap, any big projects before they are launched and review product approval report for LPMC approval.
- Liaise with underwriting and claims departments to provide risk opinion on underwriting guidelines and claims process

RBC/Solvency Management

- Work closely with VP – Statutory Reporting actuarial team to reconciled and performed consolidation and analysis on the company's Risk Based Capital (RBC).
- Report on a regular basis the company's RBC position and be able to explain the sources of variation
- Assist in the development and the implementation of the new RBC phase II regime and the new RBC stress tests

Bonus Review

- Lead Insurance Risks and work closely with the Head of Investment & Insurance Risks, Chief Actuary and VP Statutory Reporting on providing risk opinions on Annual Policyholder Non-Guaranteed Dividend declaration

Reinsurance

- Reviewing Reinsurance framework
- Performing yearly Probably Maximum Loss study
- Conduct and review yearly retention study

Local Management Risk Committees(LMRC)

- Responsible, prepare and present insurance risk related reports in Support in LMRC and Board Management Risk Committees.
- Be the risk representative in Local Model Committee and the Local Data Quality Committee.
 

TLAA and OIC

- Risk representative of the company in TLAA and OIC meetings to regularly updated in new guidelines/methodology relating to Reserve, Solvency, IFRS17 & IFRS9 and products.

EDUCATION:

(Basic Requirements)
- University degree in Actuarial, Mathematics, Statistics, Finance, Engineering or any relevant field
- Actively sitting and passing SOA/IoA or otherinternational actuarial exams. Pass at least 2-3actuarial exams (P, FM,MLC)
(Added advantage)
- Close to completion of actuarial exams and few papers away to FSA or FIA actuarial qualification.
- Master’s degree in Actuarial

EXPERIENCES:

(Basic Requirements)
- Actuarial experience in Valuation and Pricing
- At least 8 years of actuarial experience in life insurance companies
- Knowledge in Actuarial Model (e.g. Prophet Model)
- Excel VBA skills
- Actuarial experience in international Life Insurance companies.
- Strong technical and analysis skills
- Self-organized, logical and systematic with good team spirit
- Good command of spoken and written English
- Strong Excel skills
- Understanding and application of stochastic techniques