Chief Actuary, Hsbc Life Singapore

-Job description

**Some careers grow faster than others.**

If you’re looking for a career that will unlock new opportunities, join HSBC and experience the possibilities. Whether you want a career that could take you to the top, or simply take you in an exciting new direction, HSBC offers opportunities, support and rewards that will take you further.

HSBC Life is a world-class institution where you can specialize in Insurance but enjoy the advantages that come with being part of a leading global international bank. Insurance is about people, and the promises they make. At HSBC Life we help deliver on these promises by providing a wide variety of life insurance products and services to our clients throughout the Asia-Pacific region.

Our employees enjoy a dynamic and innovative workplace and a world of opportunities to develop their careers in a high-profile growing business segment. We empower our team of high-performing individuals to build skills and explore new experiences to realize the full potential of being part of HSBC.

Together we pursue efficient ways of working. We harness the latest data and technology solutions to achieve meaningful outcomes for our clients. The protection we offer creates broad and lasting impact, helping clients to be healthier, more productive and more confident in their futures.

We are currently seeking a high calibre professional to join our team as a Chief Actuary.

**Role Purpose**

The role holder will be responsible and accountable for all actuarial topics across insurance businesses for HSBC Life (INSP). This includes product development, asset-liability reporting, life reinsurance arrangements, capital management and required financial reporting. The Chief Actuary will work closely with CEO INSP to formulate business strategy and to maximize business development opportunities.

Also as the Appointed Actuary for INSP, the role holder would discharge the fiduciary duties mandated by the role by the relevant regulations from MAS, mandate from the Board and relevant Group guidelines. One would also lead as the SME for actuarial for a wide range of business and actuarial initiatives.

**Principal Accountabilities**:
**Impact on the Business / Function**
- Review the profitability of all lines of business. Monitor and report to the Board the financial status (asset and liability position and solvency situation) of INSP
- Oversee and monitor the setting of valuation/reserving basis for all insurance liabilities, certifying reserve adequacy and solvency position and proper asset liability management under relevant MAS regulations
- Set, monitor and review product and business profitability objectives for the life business in view of business profitability, risk tolerance level
- Formulate and implement reinsurance policy for Board approval
- Have significant influence on business strategy as well as business development plan

**Customers / Stakeholders**
- Recommend to the Board on discretional benefits decisions, e.g. policyholders dividends / bonuses for participating life business and declared rates for the Universal Life products, ensure proper control of reserve and cash flow planning
- Support the development of HSBC Life’s multi-channel distribution in Singapore in respect of product development, product positioning, competitive analysis and sales incentive design in order to meet the company’s strategic and business plan
- Provide expert advice to the senior management of INSP including CEO, CFO and CRO
- Handle the regulatory communication with MAS in the capacity of Appointed Actuary

**Leadership & Teamwork**
- Coach, train and motivate a team of actuaries to provide actuarial advice to the INSP Management team
- Provide actuarial advice and support to the INSP Board and Management team on ad-hoc basis on various initiatives
- Implement relevant group policies

**Operational Effectiveness & Control**
- To discharge compliance responsibilities by implementing Compliance policy and procedures
- To discharge the Business Money Laundering Control Officer's responsibilities by implementing anti-money laundering policy and procedures,

**Major Challenges**
- To have the vision and insight to perceive and identify inherent risks in the business and be prepared to recommend course of action
- To set important economic assumptions having long term financial implications to the companies in the face of uncertainty and insufficient data
- To