Who we are
American International Group, Inc. (AIG) is a leading global insurance organization. Building on 100 years of experience, today AIG member companies provide a wide range of property casualty insurance, life insurance, retirement solutions, and other financial services to customers in more than 80 countries and jurisdictions. These diverse offerings include products and services that help businesses and individuals protect their assets, manage risks and provide for retirement security.
Get to know the business
General Insurance is a leading provider of insurance products and services for commercial and personal insurance customers. It includes one of the world’s most far-reaching property casualty networks. General Insurance offers a broad range of products to customers through a diversified, multichannel distribution network.
As an actuary at AIG, you will be challenged and encouraged to reach your greatest potential. Every day will bring new opportunities to stretch your analytical and problem- solving skills as you improve how we predict and mitigate risk. Our Actuaries are on the frontlines, quantifying risk, pricing insurance and reserving losses for AIG’s major regulated and rated insurance operating companies globally. Portfolio Analytics and Pricing Actuaries support AIG’s businesses and are responsible for technical pricing, product development analytics and performance measurement. They collaborate with Marketing, Operations and Financial Management.
About the role
What you need to know:
This will be a key resource in carrying out APAC DVRs while supporting Singapore local statutory reporting requirements, including but not restricted to annual stress tests, IFRS17 reporting, regulatory compliance returns, ALM monitoring and Solvency returns.
The candidate is expected to work with analysts and experienced actuaries as part the regional team to provide actuarial advice to the business functions including profit centres, underwriting, finance, and risk management. Key responsibilities include:
- Assist in local GAAP quarterly reserving and solvency estimates for local regulatory reporting for assigned APAC countries
- Assist in preparation of US GAAP quarterly management results
- Assist in preparation of annual Detailed Valuation Reviews, Insurance Liability Valuation Report and Financial Condition Report / Stress testing
- Assist in preparation of quarterly Board and Risk committee reporting
- Assist in reviewing capital targets and investment strategies including ALM
- Provide support to the budget loss ratio exercise and annual financial planning
- Assist in supporting strategic portfolio reviews and deep dive analyses of certain business segments
- Assist with implementation of IFRS 17 reporting requirements
- Assist in other ad-hoc analyses as required.
What we’re looking for:
- Candidate with Mathematics/Actuarial/Statistics/Economics or any related degree background, with some progress towards pursuing a professional actuarial qualification
- 1-2 years of working experience in the General insurance industry
- Fresh graduates will be considered
- Familiarity with traditional actuarial techniques and models
- Ability to manage multiple tasks simultaneous
- Ability to work as part of a team as well as take responsibility for his individual contribution
- Ability to meet tight deadlines and prioritize own work
- Effective time management and strong communication skills
- Ability to forge relationships with other areas of the business
- Working knowledge on typical actuarial reserving software
- Strong knowledge of MS Excel and MS Access, knowledge of VBA
