Please note that this role can be based in either Hong Kong or Singapore
Role Objective
Support Chubb Life Global Pricing Actuary in analyzing and reviewing product development, pricing and business strategy and plan across all Chubb Life markets including Asia-Pacific and Latin America regions (may evolve to be more focused on specific markets). This role will work with various Local and Global teams to ensure the robustness and appropriateness of the product development, pricing, and product approval, while complying to internal process and governance.
Responsibilities
Product Pricing
- Support the Global Pricing Actuary in reviewing product manual submissions. Perform further analysis or risk assessment as and when needed.
- Ensure the product pricings are robust and appropriate in accordance to the latest assumptions, guidelines, underwriting process, and pricing frameworks.
- Provide pricing support for new distribution deals, new partnership opportunities, or other business development activities.
- Identify any gaps and enhance existing product review and approval process and management reporting on products.
- Provide support in enhancement of existing pricing methods, assumption development, or profitability measurements (e.g. VNB) as required to keep methodologies relevant in light of changes in regulations, market conditions, capital or accounting standards (e.g. LDTI).
- Conduct pricing deep dive into key markets’ business to identify risks, challenges and action items.
- Develop, maintain, and enhance tools for product pricing review and monitoring.
- Track and follow-up on all product approvals that are pending with the Group Product Team.
- Prepare materials and participate in Product Approvals meetings.
Pricing Projects
- Support the Global Pricing Actuary with various internal projects.
- Collaborate and coordinate with various Local and Global teams, and any external consultants to ensure timely and successful delivery of the projects.
- Prepare materials and participate in Project meetings.
- Support Chubb Life annual business planning
Product development, business strategy and deal support
- Collaborate with GO Product Specialist and local operations to develop business strategy and product pipeline.
- Actively participate in local countries annual business planning. Monitor and oversee business plan execution from product/pricing perspectives.
- Collaborate with and support local countries in M&A and partnership opportunities from product and pricing perspectives.
Qualifications
- Recently or nearly qualified Life Actuary (FSA or equivalent)
- A minimum of 5 years of actuarial experience in the life insurance industry (preferably in pricing/data analytics)
- Familiarity with regulatory and product landscape of key APAC markets
- Understanding of other reporting regimes besides Local Statutory (e.g. U.S. GAAP, LDTI, IFRS17) is a plus
- Strong modeling skills (MS Excel); knowledge of actuarial software (e.g. Prophet) and programming languages (e.g. Visual Basic, SQL) is a plus
- Speaking additional language (e.g., Chinese, Korean, Spanish etc.) is a plus
Skills Required
- Strong analytical and technical skills, plus strong organizational skills with an ability to prioritize whilst managing various projects and resources.
- Excellent interpersonal and communication skills, ability to effectively present and explain complex concepts to a non-technical audience.
- Dynamic, energetic and shows initiative to learn new concepts.
- Commitment to understanding the actuarial and commercial aspects of the life insurance industry which are crucial for the successful operation of a global life company in developing international markets in Asia and Latin America.
- Genuine aptitude for working in an energetic and entrepreneurial small team environment and demonstrates the ability to work well with colleagues across functions and geographies.
- Ability to meet tight deadlines and work extended hours and weekends when required.
At Chubb, we are committed to equal employment opportunity and compliance with all laws and regulations pertaining to it. Our policy is to provide employment, training, compensation, promotion, and other conditions or opportunities of employment, without regard to race, color, religion, age, sex, sexual orientation, transgender, national origin, disability, genetic information, veteran, or marital status, or any other characteristic protected by law. For additional information about Chubb or its services, please visit our www.chubb.com
