Senior Actuarial Analyst

3 weeks ago

Singapore THE GREAT EASTERN LIFE ASSURANCE COMPANY LIMITED Full time
Roles & Responsibilities

Job Purpose

We are seeking a highly motivated Senior Analyst to become part of the Accident & Health actuarial team. You will be part of a dynamic team primarily consisting of actuaries, contributing to Group Insurance business initiatives and overall business objectives.


The Job

· Responsible to design, build, implement and maintain a comprehensive up-to-date database that is consistent, well-defined and well-reconciled to be used by internal stakeholders such as Actuarial, Group Insurance Product & Pricing Management, and Finance. This shall be the aligned baseline to be used by all functions.

· To facilitate business planning and interpretation of monthly Group Insurance P&L through understanding of IFRS 17 and RBC P&L standards, and compilation of monthly relevant financials.

· To identify and implement process improvements for end-to-end Group Insurance business process to enhance efficiency and ensure robustness in quotation processes.

· Perform annual assumption setting exercise to review key quotation components such as pricing model, pricing approach, pricing process, data integrity and quality, risk rates, inflation, trending approach, group discount, and IBNR loading. This should cover both New Business and Renewal quotations.

· To participate in product revamp, new benefits enhancement, maintenance of quotation tools and premium calculators.

· Enhance monitoring infrastructure to track key performance metrics of group policies issued. To actively monitor actual experience of policies against pricing quotations to identify early actions that should be taken to enhance portfolio performance.

· Take part in ad-hoc group insurance projects when required.

· Provide technical support on other related matters, such as marketing, underwriting, claims management and system development.

· Takes accountability in considering business and regulatory compliance risks and takes appropriate steps to mitigate the risks.

· Maintains awareness of industry trends on regulatory compliance, emerging threats and technologies in order to understand the risk and better safeguard the company.

· Highlights any potential concerns /risks and proactively shares best risk management practices.


Our Requirements

· Degree in Actuarial or relevant fields, and good progress in Actuarial examinations

· Excellent in statistical analysis, problem solving and communication skills

· Proficient in MS Excel and good knowledge of statistical packages and strong interest in programming (e.g SQL, VBA, SAS, Prophet)

· Familiar with RBC2, reinsurance structures, IFRS17, AS400 system data structure, and SAS programming will be an advantage

· Three years of relevant working experience

· High level of integrity, takes accountability of work and good attitude over teamwork.

· Takes initiative to improve current state of things and adaptable to embrace new changes.


About Great Eastern

Established in 1908, Great Eastern places customers at the heart of everything we do. Our legacy extends beyond our products and services to our culture, which is defined by our core values and how we work. As champions of Integrity, Initiative and Involvement, our core values act as a compass, guiding and inspiring us to embrace the behaviours associated with each value, upholding our promise to our customers - to continue doing our best for them in a sustainable manner.


We work collaboratively with our stakeholders to look for candidates who exhibit or have the potential to embrace our core values and associated behaviours, as these are the key traits that we expect from our employees as they develop their careers with us.


We embrace inclusivity, giving all employees an equal opportunity to shine and play their role in exploring possibilities to deliver innovative insurance solutions.


Since 2018, Great Eastern has been a signatory to the United Nations (UN) Principles of Sustainable Insurance. Our sustainability approach around environmental, social, and governance (ESG) considerations play a key role in every business decision we make. We are committed to being a sustainability-driven company to achieve a low-carbon economy by managing the environmental footprint of our operations and incorporating ESG considerations in our investment portfolios; improving people’s lives by actively helping customers live healthier, better and longer; and drive responsible business practices through material ESG risk management.


To all recruitment agencies: Great Eastern does not accept unsolicited agency resumes. Please do not forward resumes to our email or our employees. We will not be responsible for any fees related to unsolicited resumes.


Tell employers what skills you have

IFRS
Claims Management
Actuarial
Regulatory Compliance
Reinsurance
Problem Solving
VBA
Risk Management
Compass
AS400 system
Business Planning
Underwriting
Accountability
Actuaries
Pricing
Technical Support

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