Total 4 finance banking insurance job vacancies in Science / R&D / Research category in tanjong pagar

Job Description:

• New Product pricing
  - Work closely with Product team to provide actuarial support in product development process. This includes:
  o Provide advice on product design, develop and maintain pricing model, ensure accuracy and robustness in technical pricing
  o Propose pricing assumptions and methodology
  o Use relevant pricing model to derive premium rates and access profitability, as well as highlight key risks associated with the product.
  - Ensure that the proposed premium rates are adequate and provide sufficient resilience against risks.
  - Ensure that the assumptions used in pricing are consistent with internal guidelines / experience and pricing methodology is compliance with both regulatory and internal requirements.
  - Comply with internal and regulatory filing requirements in relation to pricing
• Product Implementation
  - Liaise and coordinate with Product, Operation and IT teams to provide actuarial support to new product implementation, which includes operational set-up, system testing and policy documents review.
  - Provide actuarial support in preparing policy illustration of life insurance products and ensuring that they are compliant with industry / regulatory requirements.
• Reinsurance
  - Point of contact with reinsurers; negotiate risk rates with reinsurers
  - Coordinate and participate in reinsurance contracts review
  - Involve in other reinsurance matters such as retention limit review
• Product management
  - Conduct regular profitability review of current selling life insurance products
  - Conduct regular evaluation of distribution remuneration structure, which includes assessing its market relevance and financial sustainability.
  - Provide actuarial support to review / evaluate any relevant corporate initiatives / incentive / campaign.
• Other product related project
  - Handle special quotations and other policy servicing queries.
  - distribution compensation and analysis

Requirements:

• Good progress in Actuarial exams of a recognized actuarial body.
• Minimum 5 years of actuarial experience
• Strong actuarial technical knowledge, analytical and problem-solving skills, with the ability to work independently. • Engaging and open-minded working attitude with emphasis on being a good team player.
• Meticulous for detail in risk assessment and profitability analysis
• Excellent communication and interpersonal skill
• Proficient in Microsoft Office (Excel, Words, Power Point)
• Proficient in actuarial computing is a plus (VBA, Prophet)

Job Description:

• Produce and deliver high quality IFRS 17 financial reporting and support actuarial department in performing management assessment on reasonableness of IFRS 17 results, including performance liability, CSM and profit movement and forecast analyse.
• Take a lead in producing business forecasts and plan projections on IFRS 17 financial performance. Advice management on implications of IFRS 17 and optimize business performance with drive and forward-looking view.
• Work closely with Finance on the preparation of IFRS 17 monthly and annual financial statements and relevant disclosure notes.
• Managing the enhancement and modifications of prophet system (RBC2 & IFRS 17 ) to ensure accurate and consistent results.
• Work with actuarial pricing and provide feedback to implement IFRS 17 in pricing.
• Managing a team of actuarial staff on day-to-day work.
• Implementing enhancements and best practices to optimise IFRS 17 financial reporting time needed.
• Coach, develop and provide leadership to the team members.
• Any other tasks assigned by the company.

Requirements:

• Degree in actuarial
• 8 years or above of actuarial working experience
• Experience in implementing IFRS 17 and managing IFRS 17 financial reporting team
• Deep understands of MAS RBC2 reporting is a Plus
• Knowledge and experience in Python tools is a plus
• Strong prophet skills is an advantage
• Excellent communication and stakeholder management skills and ability to work well with external stakeholders and auditors is very important
• Good interpersonal skills and ability to guide and motivate staff

Principal Responsibilities:

• Participate actively in end-to-end actuarial pricing process which includes executing premium and benefit pricing, assumption setting, and profitability testing.
• Assist in product system implementation and user acceptance testing to ensure on time delivery.
• Support system migration by setting up products, reviewing business requirements, and conducting user acceptance tests.
• Liaise with Products, Distribution, and Policy Servicing teams to handle client requests and support marketing campaigns.
• Engage in risk management projects, addressing insurance risk reviews and strengthening controls.
• Involve in non-product activities like experience studies updates, financial stress tests, regulatory initiatives, and marketing support.
• Assist the Head of Pricing in safeguarding the company's financial health and ensuring statutory compliance.

Job Requirements:

• Bachelor’s Degree in Actuarial Science, Statistics, Economics, or a related discipline.
• Minimum 4 years of actuarial experience in life insurance product pricing.
• Experience with Prophet, VBA, and Excel Programming would be good to have.
• Excellent communication skills for clear business connectivity.
• Engaging, open-minded team player with attention to detail for financial analysis.
• Proactive mindset with a focus on continuous improvement.

Interested Applicants, please email your resume to [email protected] (R1441955), stating the position as the subject title in the email. All Applications will be handled with strict confidentiality.

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