PURPOSE
Support the Head of Pricing in the pricing of life insurance products.
KEY ACCOUNTAIBILITIES
- Develop actuarial pricing model for new or repriced products.
- Perform pricing financial assessment and sensitivity testing to support the Team in launching competitive products whilst ensuring compliance to internal policies, regulatory requirements and industry guidelines.
- Identify pricing risks and support Team Lead in developing solutions for alignment at the PMC.
- Collaborate with wider business (including product development, IT, risk & compliance, etc) to ensure timely end-to-end product development and implementation with good audit trail.
- Prepare internal (FWD local entities and FWD Group) and external product filing.
- Work closely with Appointed Actuary in proposing assumptions for new products and justifications.
- Pro-actively drive initiatives/projects to enhance overall pricing process efficiency and governance/controls.
- Support discussion and negotiation on reinsurance, together with Product team
- Assist in special quotations.
- Guide/lead junior pricing actuaries to ensure quality and timely deliverable.
QUALIFICATIONS / EXPERIENCE
- Qualified actuary from a recognized professional actuarial body is preferred.
- Min 6 - 8 years of actuarial experience, with individual life product pricing experience.
KNOWLEDGE, SKILLS & ABILITY
- Strong knowledge on (i) Singapore RBC2 or similar regulatory framework, (ii) embedded value and (iii) IFRS17 would be an advantage.
- Good knowledge of Life insurance products in the Singapore market would be an advantage.
- Proficient in Prophet.
