- Conducts valuation and aids in preparing reserve review reports
- Supports the implementation of target operating model for IFRS 17, including evaluating insurance reserves, profit and loss.
- Collaborates with internal/external partners to price and develop GI products.
- Provides pricing guidance and review assistance across entities.
- Supports the Company in propelling the GI business through experience and profitability analysis on various business segments.
- Performs business projections for business planning, stress scenario construction, and stress testing under both RBC and IFRS 17 basis.
- Supports reinsurance (RI) related assessment, such as optimal RI evaluation, RI accounting, and financial reporting.
- Develops and enhances in-house statistical capability using SAS software, including:
- Periodic data preparation for valuation and pricing
- Assist in the financial management of the general business
- Support business units by generating required reports
- Provides technical support on other general insurance related matters, such as marketing, underwriting, and claims management
- Takes accountability in assessing business and regulatory compliance risks and takes necessary steps to mitigate the risks.
- Maintains awareness of industry trends on regulatory compliance, emerging risks, and technologies to comprehend the risk and safeguard the company effectively.
- Highlights any potential concerns/risks and proactively shares best risk management practices.
- Degree in Actuarial or related disciplines, and making good progress in Actuarial examinations
- Strong in statistical analysis, problem-solving, and communication skills
- Proficient in MS Excel and has good knowledge of statistical packages with a strong interest in programming (e.g., SAS, SQL, VBA, Prophet)
- Familiarity with general insurance, RBC2, reinsurance structures, IFRS17, and AS400 system data structure will be beneficial
- Minimum of 5 years of relevant work experience
- Demonstrates alignment with the organization's core values through expected behaviors
- High level of integrity, takes work accountability, and fosters a positive attitude towards teamwork.
- Shows initiative to enhance the current state of operations and adaptable to embrace changes.
- IFRS
- Actuarial
- Reserves
- Regulatory Compliance
- Valuation
- Reinsurance
- Stress
- VBA
- Risk Management
- AS400 system
- Business Planning
- Underwriting
- General Insurance
- Stress Testing
- Pricing
- Financial Reporting
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Manager, Actuarial - Singapore - THE GREAT EASTERN LIFE ASSURANCE COMPANY LIMITED
Description
Roles & Responsibilities
Job Purpose
To enhance the internal actuarial expertise within the realm of general insurance and extend actuarial aid to general insurance operations.
The Job
Our Requirements
About Great Eastern
Established in 1908, Great Eastern prioritizes customers at the core of every action. Our heritage transcends beyond products and services to our ethos, shaped by our core values and work ethic. Being advocates of Integrity, Initiative, and Involvement, our core values serve as a guiding light, inspiring us to embody the behaviors associated with each value, fulfilling our commitment to customers - to persist in delivering our best for them sustainably.
We collaborate with stakeholders to search for candidates who demonstrate the potential to embody our core values and associated behaviors, as these are the essential qualities we seek from our employees in their professional growth with us.
We champion inclusivity, offering all employees an equal platform to excel and contribute to exploring innovative insurance solutions.
Since 2018, Great Eastern has pledged to the United Nations (UN) Principles of Sustainable Insurance. Our sustainability approach focusing on environmental, social, and governance (ESG) factors plays a pivotal role in every business choice we make. We are dedicated to being a sustainability-driven organization to foster a low-carbon economy by managing our operations' environmental impact, integrating ESG considerations into our investment strategies, enhancing people's well-being by actively aiding customers to lead healthier, better, and longer lives, and promoting responsible business conduct through comprehensive ESG risk management.
To all recruitment agencies: Great Eastern does not entertain unsolicited agency resumes. Please refrain from sending resumes to our email or our personnel. We will not bear any responsibility for fees linked to unsolicited resumes.
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