Product Pricing, Principal

AIA; Hong Kong; On-site; HKD 900,000 - 1,300,000; Full time

Job summary

AIA HK is seeking an experienced Actuary to lead a pricing team and deliver pricing projects across product lines. You will guide the team on pricing analysis, financial result optimization, and ensure timely product launches with risk management in mind.

You will embed a customer-first mindset, develop pricing strategies with the Product Pricing Leadership Team, and work with stakeholders to secure approvals and implement system changes that support reliable customer outcomes and sustainable

Qualifications

• Qualified Actuary with at least 8 years of progressive experience in direct life insurer, reinsurer, or consultancy.
• Strong understanding of assumption setting, cash flow modelling, ALM, investment, capital management, medical business, and product implementation.
• Ability to write reports and communicate pricing, financial and risk management to technical functions.

Responsibilities

• Lead a pricing team to deliver product pricing projects spanning development, pricing, in-force repricing, system implementation and process transformation (70%).
• Project manage the overall project with regular updates to the Product Pricing Leadership Team.
• Provide technical guidance on pricing analysis to support product development and financial result optimisation; formulate risk mitigation strategies.
• Oversee and support pricing system implementation.
• Secure endorsement from product approval functions in AIA HK and Group Office.
• Maintain documentation of pricing work and ensure compliance with internal guidelines.
• Support Pricing R&D and development/maintenance of product pricing strategy (25%).
• Approve special quotation recommendations from the team (5%).

Skills

Pricing

Actuary

Project management

Pricing analysis

Education

Qualified Actuary

Job description

At AIA we’ve started an exciting movement to create a healthier, more sustainable future for everyone.

It’s about finding new ways to not only better people’s lives, but to better the communities and environments we live in. We need great Actuaries who want to be part of something bigger than finance alone. Because the better we can nurture our financial wellbeing as an organisation, the better we can support and make a difference for our customers when they need us most. By ensuring our products are well designed and priced, analysing business performance and ensuring proper management of insurance policies in-force, you’re not just safeguarding AIA’s financial wellbeing. You’re securing a better future for the people and communities we serve - today, tomorrow and for generations to come.

If that interests you, read on.

About the Role

To lead a pricing team to deliver pricing projects, with support from the Product Pricing Leadership Team.
Take ownership of the project delivery by leading and guiding the team on product pricing analysis and financial result optimisation with key risks identified and managed, by drafting effective product pricing reports and obtaining the product approval functions’ support on the product, and subsequently by implementing system changes and checks to meet the product launch timeline.
This role contributes to the delivery of customer outcomes that are reliable, thoughtful, and create meaningful impact for customers and society. The role holder is expected to embed a customer first mindset in all decisions and actions by developing a clear understanding of customer needs, taking end to end ownership to resolve issues, and working collaboratively across teams to continuously enhance the customer journey—both directly and indirectly.

Roles and Responsibilities:

• Lead a pricing team to deliver product pricing projects that span across product development and pricing of different product lines, in-force repricing, system implementation and process transformation (70%)
• Project manage the overall project with regular update to the Product Pricing Leadership Team, seeking support where needed.
• Provide technical guidance to the pricing team in product pricing analysis, to support product development, to drive financial result optimisation with the implementation of levers identified in Pricing R&D and Product Pricing Strategy, and to formulate risk mitigation strategies.
• Oversee and support the pricing team in system implementation.
• Secure endorsement/support from product approval functions in AIA HK and the Group office by ensuring that their interests, perspectives, and needs are addressed proactively.
• Maintain documentation of all pricing work, and ensure compliance with relevant internal guidelines and standards.
• Support Product Pricing leadership team on Pricing R&D and development / maintenance of product pricing strategy (25%)
• Approve special quotation recommendation from the team (5%)

Minimum Job Requirements:

• Qualified Actuary with at least 8 years of progressive experience working in direct life insurer, reinsurer, and/or consultancy.
• Familiarity with the fundamental principles and practices on assumption setting, asset/liability cash flow modelling, ALM, investment, capital management, medical business, and valuation; and/or and the operational areas related to the product implementation.
• Strong understanding of the financial and risk related issues of different product features and be able to assess and address these issues from a high level before carrying out more detailed analysis.
• Ability to write reports and to communicate verbally on the objectives, pricing, financial and the risk management of the products with technical functions in an effective manner.
• Strong project and team management skills
• Proficient command of spoken and written English. Cantonese/Mandarin a plus

Other:

• You are required to obtain relevant license if your job involves in regulated activities

Build a career with us as we help our customers and the community live Healthier, Longer, Better Lives.

You must provide all requested information, including Personal Data, to be considered for this career opportunity. Failure to provide such information may influence the processing and outcome of your application. You are responsible for ensuring that the information you submit is accurate and up-to-date.