Actuarial Analyst

UNITED OVERSEAS INSURANCE LTD; Santo Niño 1st; On-site; PHP 600,000 - 1,000,000; Full time

Job summary

UNITED OVERSEAS INSURANCE LTD in the Philippines is seeking an Actuarial Analyst to support reserve estimation, financial reporting, budgeting, portfolio reviews, and capital modelling to strengthen underwriting profitability and ROE.

You will develop pricing models, analyze claims data, and collaborate with underwriting, reinsurance, finance, and IT to deliver insights and Power BI dashboards for performance tracking.

Qualifications

• Bachelor’s degree in Actuarial, Mathematics, Statistics, or related field.
• 2–3 years’ experience in reserving, regulatory and financial reporting (e.g. MAS reporting & IFRS 17), budgeting and forecast, capital modelling and management, pricing, and portfolio management for general insurance.
• Proficiency in Microsoft Office, PowerBI, and/or any statistical software such as SAS.
• Proficiency in programming languages, such as SQL, VBA, python an advantage.
• Fluency in English. Fluency in other languages is a plus.
• Strong analytical mindset, problem solving, good interpersonal and communication skills.
• Meticulous, organised, and able to multi-task efficiently and produce innovative solutions.
• Proven ability to work both independently and collaboratively within a team.

Responsibilities

• Perform actuarial valuations to ensure reserves are adequate and compliant with regulatory requirements.
• Develop, maintain, and enhance models to support KPIs such as forecasts, budgeting, and profitability tracking across lines of business.
• Understand underwriting strategy, portfolio structure, product offerings, and reinsurance management.
• Perform product pricing activities and maintain pricing tools and premium calculators.
• Collaborate with underwriting, business, reinsurance, product, claims, and finance to review portfolios and improve profitability.
• Collaborate with IT on data extraction and develop Power BI dashboards for the team.
• Analyse claims data to identify trends, deviations, and potential reserve risks.
• Perform scenario analyses, stress testing, and sensitivity analyses for capital and risk management.
• Identify optimal reinsurance and retention strategies to balance risk and reward.
• Support technical accounting and commutation calculations.
• Support data analytics work and ensure high-quality data granularity and accuracy.
• Undertake any other duties as assigned.

Skills

PowerBI

Microsoft Office

SAS

Education

Bachelor's degree in Actuarial, Mathematics, Statistics, or related field

Tools

SQL

VBA

Python

Job description

The Underwriting & Operations Division is responsible for all underwriting governance, portfolio management, product & pricing strategy, reinsurance, and operations of the Company.

Job Purpose

As an Actuarial Analyst, you will play a key role in actuarial function, with responsibilities covering reserve estimation and financial reporting, business forecast and budgeting, portfolio reviews, and capital modelling to achieve the company’s underwriting profit, shareholder’s fund, and ROE targets. You will be supporting the company’s strategy in enhancing underwriting capabilities, business expansion, portfolio management, pricing, reserving, data analytics, reinsurance, and retention strategy, in line with the Company’s risk appetite and growth plans.

Your main responsibilities would include:

• Perform actuarial valuations to ensure company’s reserves are adequate and comply with regulatory requirements.
• Develop, maintain, and enhance models to support key KPIs such as business forecast and budgeting, top- & bottom-line performance tracking for all lines of business, channels, underwriting teams, and capital adequacy in line with company policy and regulatory requirements.
• Understand the company’s underwriting strategy, portfolio structure, product offerings, reinsurance management strategy and system data architecture.
• Perform product pricing activities, design and develop pricing models that meet internal and regulatory requirements, and maintain quotation tools and premium calculators.
• Collaborate with internal stakeholders (underwriting, business team, reinsurance, product, claims, and finance) to perform portfolio reviews and provide insights to support rectification strategy to improve the portfolios’ profitability.
• Collaborate with the IT team on data extraction to support analysis requirements and develop Power BI dashboards for the team.
• Analyse claims data and other relevant datasets to identify trends, experiences deviation, and potential reserve risks.
• Perform scenario analyses, stress testing, and sensitivity testing to support capital and risk management.
• Identify optimal use of reinsurance and retention strategy to achieve target risk and rewards balancing along the efficiency frontier.
• Support technical accounting and commutation calculations.
• Support data analytics work and deliver continuous improvements to ensure high-quality resolution in terms of data granularity and accuracy.
• Undertake any other duties as may be assigned.

Requirements

• Bachelor’s degree in Actuarial, Mathematics, Statistics, or related field.
• Minimum 2-3 years’ experience in reserving, regulatory and financial reporting (e.g. MAS reporting & IFRS 17), budgeting and forecast, capital modelling and management, pricing, and portfolio management for general insurance.
• Proficiency in Microsoft Office, PowerBI, and/or any statistical software such as SAS.
• Proficiency in programming languages, such as SQL, VBA, python an advantage.
• Fluency in English. Fluency in other languages is a plus.
• Strong analytical mindset, problem solving, good interpersonal and communication skills.
• Meticulous, organised, and able to multi-task efficiently and produce innovative solutions.
• Proven ability to work both independently and collaboratively within a team.