KEY RESPONSIBILITY

Model Governance & Management

• Define, implement, and monitor good practice for Model Governance (including Local Model Committee & Model Governance Policy, Documentation).

• Oversee the efficient and effective operation of actuarial models (Prophet, ALS, DCS, GLM etc.) and infrastructure (Cloud usage, Machines etc.)

• Oversee the team in managing model change process, including new products, project developments and modifications.

• Centralize all actuarial model management and be single point of contact to local IT and external technical support teams for the local actuarial models.

• Lead the management and review of contractual terms, usage, cost, and budget for actuarial models.

In-Force Management

• Lead on actuarial analysis on in-force management initiatives and campaign to optimize financial outcome.

• Lead and manage persistency and retention analysis.

• Oversee annual par bonus supportability studies and declaration including sales illustration review and system UAT.

• Oversee review, enhancement and maintenance of fair and effective Par bonus management practice and principles.

• Oversee the declaration of Universal Life crediting rate.

• Responsible for the governance of Par Steering Committee.

Actuarial Transformation

• Lead/support actuarial transformation and reporting process improvement projects.

• Lead the adoption of ALS model for regular reporting, ALM and forecasting.

• Lead the adoption of GLM in experience study.

• Any other actuarial projects as needed.

Actuarial Business Support

• Act as a Finance business partner to sales channel (Agency, Banca, and Partnership) in reviewing the effectiveness of distribution campaigns and compensation strategy

Staff Supervision

Supervise, delegate, coordinate and review the work in the team.

Requirements

• At least 10 years life insurance working experience preferably in actuarial modeling, valuations or pricing.

• B.Sc or M.Sc in Actuarial studies / Statistics / Mathematics / Computer Sciences.

• Associate or close to qualification as Fellow of an Actuarial Society e.g. Society of Actuaries, Institute of Actuaries of Australia, Institute & Faculty of Actuaries

• A strong understanding of life insurance products and business.

• Experience with ALS and IFRS17 is a plus.

• A very good knowledge of Excel and Prophet is required, including coding skills.

• A good command of English, since it is the office language and high interaction with regionally and at Group level, and external providers.