Key Duties and Responsibilities

• Analyze and evaluate which insurance products and services could meet complex client needs.
• Monitor the operation of delegated authority agreements, binding authorities and/or scheme arrangements to ensure that organizational underwriting procedures and policy wordings are being followed.
• Monitor and guide actuarial performances against prescribed objectives and plans.
• Extract relevant data and applies appropriate statistical modelling techniques to produce valid initial analysis to achieve the intended objectives based on appropriate assumptions and rationale.
• Reviews analysis of loss experience and trends.
• Oversee processes of determining required premium rates, cash reserves and liabilities.
• Apply statistical analysis and predictive modeling to support development of rates, rating plans, pricing and portfolio management.
• Provide actuarial services according to the requirements of assigned business lines.
• Work with relevant units, e.g. underwriters, claims personnel, to plan for new lines of business or improve existing business.
• Monitor estimates produced and used by the team in product development and pricing.
• Review assumptions and methodology used in actuarial models.
• Review mortality and surrender risk calculation to ensure accuracy.
• Guide team members on actuarial matters.
• Provide professional advice to support corporate development by analyzing actuarial performances to effectively determine corporate development directions.
• Monitor and review operational plans and procedures for compliance.

Key Requirements

Education and Work Experience

• Bachelor’s degree Insurance, Actuarial, Finance or related fields.
• Minimum of ten (10) years’ experience.
• Possession of relevant Professional certifications is an advantage.
• Minimum of five (5) core actuarial exam passes is required.

Skills and Competencies

• Ability to apply the principles of insurance to complex, unfamiliar situations.
• Demonstrates an understanding of how a range of situations may be affected by the principles of insurance.
• Ability to interpret relevant regulations, standards, and codes of practice relevant to the business.
• Knowledge of IFRS17 and experience in IFRS17 implementation is a plus.
• Ability to demonstrate a detailed understanding of complex policy wordings, extensions and/or limitations and their interpretation and application.
• Knowledge and ability to implement compliance procedures and controls.
• Ability to manage large workloads and tight deadlines.
• Able to apply advanced mathematical / actuarial concepts and techniques.
• Ability to use actuarial statistical software applications.
• Excellent relationship management skills, able to forge strong commercial relationships with internal and external stakeholders.
• Communication and Influencing skills.
• Data analysis and Interpretation.
• Attention to detail skill.