PURPOSE

Support the Head of Pricing in the pricing of life insurance products.

KEY ACCOUNTAIBILITIES

• Develop actuarial pricing model for new or repriced products.
• Perform pricing financial assessment and sensitivity testing to support the Team in launching competitive products whilst ensuring compliance to internal policies, regulatory requirements and industry guidelines.
• Identify pricing risks and support Team Lead in developing solutions for alignment at the PMC.
• Collaborate with wider business (including product development, IT, risk & compliance, etc) to ensure timely end-to-end product development and implementation with good audit trail.
• Prepare internal (FWD local entities and FWD Group) and external product filing.
• Work closely with Appointed Actuary in proposing assumptions for new products and justifications.
• Pro-actively drive initiatives/projects to enhance overall pricing process efficiency and governance/controls.
• Support discussion and negotiation on reinsurance, together with Product team
• Assist in special quotations.
• Guide/lead junior pricing actuaries to ensure quality and timely deliverable.

QUALIFICATIONS / EXPERIENCE

• Qualified actuary from a recognized professional actuarial body is preferred.
• Min 6 - 8 years of actuarial experience, with individual life product pricing experience.

KNOWLEDGE, SKILLS & ABILITY

• Strong knowledge on (i) Singapore RBC2 or similar regulatory framework, (ii) embedded value and (iii) IFRS17 would be an advantage.
• Good knowledge of Life insurance products in the Singapore market would be an advantage.
• Proficient in Prophet.