Assistant Manager

Product Actuarial
  • This position will ensure the alignment of the strategy, policy, guideline and procedures of actuarial pricing management. This position is responsible for developing actuarial models, performing technical pricing and product testing, performing experience analyses of key pricing assumptions (as may be required) and providing actuarial analyses / pricing / product development support to other departments.
  • The scope of work responsibilities will cover assigned channels.

 1) Actuarial Pricing and Product Development

  • Develop product-related actuarial models to calculate premium rates and other policy values of the product
  • Provide support for product design and review and provide comments on product features with consideration to risks and regulations
  • Develop product-related actuarial models to perform profit testing of the product
  • Ensure the appropriateness of assumptions used in profit testing such that they reflect expected future behavior of the products
  • Review policy contract provisions to ensure alignment with product design, provide comments and raise issues if necessary
  • Prepare product-related documents to support filing of the product to regional office and regulator for approval
  • Provide answers/ discuss with regional office's staff and regulator related to product filing
  • Actively participate in Product Development Implementation Team to discuss and provide comments on product development issues
  • Review product specifications, prepare information for setting up new products and modifications of existing products, perform User Acceptance Test (UAT)
  • Involvement in preparing product proposal to partner especially sales compensation determination to ensure competitiveness and profitability measures are met

2) Experience Analysis

  • Perform experience analyses of key assumptions e.g. claims, mortality and persistency

3) Sales Material Support

  • Perform experience analyses of key assumptions e.g. claims, mortality and persistency

4) Support Other Functions

  • Provide support to other functions e.g. day to day operation issues, product information, complaints handling, communicate technical information to internal and external customers in non-technical terms
  • Bachelor’s or Master’s Degree in Actuarial Sciences, Statistics, Mathematics, Finance or related field
  • Minimum 3 Years of experience in Actuarial Pricing and/ or Product Development in insurance or banking business
  • Mathematics, Statistics or Actuarial Sciences knowledge
  • Actuarial pricing management skill
  • Information technology skill (e.g. data mining system, advanced excel, MS Access)
  • Quantitative and analytical thinking skills
  • Project management and coordination skills
  • Good English communication skills

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