Head of Inforce Management

Job description**Some careers grow faster than others.**

If you’re looking for a career that will give you plenty of opportunities to develop, join HSBC and your future will be rich with potential. 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 in Singapore is the combination of AXA Singapore and HSBC Insurance. Here 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 in Singapore 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 combined team of high-performing individuals to build skills and explore new experiences to realise the full potential of being part of HSBC.

Together we will pursue efficient ways of working. We will harness the latest data and technology solutions to achieve meaningful outcomes for our clients. And the protection we offer will create 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 **Head of Inforce Management.**

**Principal Responsibilities**
- Inforce Portfolio Management:

- Build the inforce management framework for HSBC Life across Par, Universal Life, Index Universal Life, Protection, and Investment Linked product lines. Develop and execute the inforce strategy, and regularly adapt and adjust based on market conditions and regulatory updates
- Lead the technical management of the inforce life insurance portfolio to ensure long-term sustainability and alignment to HSBC Life strategy, focusing on optimizing profitability and customer value
- Collaborate with corporate actuary in conducting experience studies for key economic and non-economic assumptions such as mortality, morbidity, lapse rates, and expenses
- Conduct in-depth analysis of key product metrics, including business mix, commissions, claims experience, and premium holidays
- Help review and run actuarial models and analytical tools to provide insights for management decisions
- Persistency Management:

- Develop and implement targeted strategies to improve policyholder retention and persistency for new and existing businesses
- Leverage data analytics to identify drivers of persistency and product design considerations that enhance customer affinity
- Collaborate with customer engagement and distribution teams to execute initiatives that improve policyholder outcomes
- Rate Setting and Pricing Adjustments:

- Oversee the technical aspects of rate setting and premium adjustments for inforce products, ensuring alignment with profitability and regulatory standards
- Accountable for custom pricing and special case approval for new business
- Partner with actuarial and finance teams to evaluate the financial impact of rate changes and ensure competitive positioning in the market
- Implement robust frameworks for ongoing monitoring and recalibration of pricing strategies
- Drive efficiencies by streamlining tasks through automation and better workflow management
- Campaigns and promotions:

- Lead the design and pricing for product campaigns across all life insurance products, including reinsurance
- Work with local and Group stakeholders on the product approval process for all product-related campaigns
- Collaboration and Leadership:

- Lead a technically skilled inforce management team, providing mentorship and fostering a culture of precision and analytical excellence
- Work closely with cross-functional teams to achieve portfolio objectives, including the CFO function, investments, operations, and distribution
- Represent inforce management in technical discussions, executive committees, and external regulatory forums
Requirements- A bachelor’s degree in actuarial science, finance, mathematics, or a related field
- Fellowship from a globally recognized actuarial institution (e.g., FSA, FIA) is required
- Minimum of 15 years of life insurance experience, focusing on capital management, pricing, and profitability analysis
- Strong technical expertise in actuarial modelling, data analytics, and financial forecasting
- Demonstrated ability to interpret complex data and translate insights into actionable strategies
- Deep understanding of regulatory frameworks, risk management, and market dynamics in the Singapore life insurance industry
- Excellent communication skills, with the ability to present technical findings to technical and non-technical stakeholders

**You’ll achieve more when you join HSBC.**

Issued by The Hongkong and Shan