PURPOSE OF THE ROLE
Assist/perform peer review in end-to-end process of pricing for existing/new products to ensure profitability targets are met with adequate consideration to the inherent risks in the portfolio.
Assist in preparation of discussion materials for the product committee meetings
Assist in ensuring timely submission and filling of the premium certificates for products with MAS
Prepares user requirement and performs testing for the actuarial related areas in the product implementation cycle to ensure accuracy and timeliness of system delivery.
Produce projections of COR and operating profits for the retail health and group business portfolio
Carrying out regular experience analysis (including MI reports) for the individual and group business to ensure management has sufficient in-sights into the business
Providing support for ad-hoc data/statistics request from LIA or MOH
Improve controls, enhance processes so that tasks can be delivered more efficiently, eg PSQ process
Address any known control and risk issues, MAS, Internal and External Auditor findings within agreed timelines; reduce the control and risk issues, and no overdue audit/FRCF issues
Active participation in discussions within the team
Able to perform assigned task, manage own time and deliverables independently
Able to provide some guidance to junior staff and assist team lead in review work
Ensure that risks taken in own areas of work are controlled within approved limits.
Ensure key risks have been understood, identified and managed and/that, where concerns or doubts exist, are raised with line management.
Ensure full understanding of FDO and one’s own accountability in delivering these outcomes as applicable to the role.
KEY PERFORMANCE INDICATORS
Able to build working knowledge of areas of work
Submissions made to internal / external parties are on time and have minimal errors
Feedback from own team lead and other team leads
SYSTEMS AND CONTROLS
Annual product review
Quarterly product launches
RELATIONSHIPS (INTERNAL & EXTERNAL)
Internal: Actuarial Department, Product Department, Appointed Actuary, IC/ALCO, Asia Regional office/Group office
(This should include any mandatory MAS qualifications.)
Major in Actuarial Science and/or passed actuarial papers leading to qualification (under Institute of Actuaries / Society of Actuaries / Institute of Actuaries of Australia)
Have an understanding of the Actuarial pricing process and the IT systems
Exhaustive knowledge of Microsoft Excel, Microsoft Access and PROPHET to be able to build models independently
Have strong working & technical knowledge areas of work, and is able to identify issues as well as solve / propose solutions independently
At least 2 to 4 years of relevant working experience
Fresh graduates are welcomed to apply