Actuarial Consultant

AIA; Philippines; On-site; PHP 1,200,000 - 1,800,000; Full time

Job summary

AIA Philippines is seeking a Product Actuary/Pricing Professional to support pricing, modeling and product development. You will lead pricing projects, provide actuarial analysis for complex product and reinsurance pricing, and prepare filing documentation.

In this role you will propose viable product designs, coordinate with channel heads and product management, and ensure timely completion of actuarial deliverables while complying with audit requirements and stakeholder communications.

Qualifications

• Bachelor’s degree in math/statistics.
• At least 5 years progressive actuarial experience with at least 1 year in project management.
• ASA qualification is required (Associate of Society of Actuaries).
• Expertise in actuarial knowledge and understanding of insurance operations; experience with actuarial software.
• Ability to communicate actuarial results to actuarial heads and non-actuarial stakeholders.

Responsibilities

• Lead pricing projects and ensure model accuracy; negotiate reinsurance arrangements.
• Provide actuarial analysis for complex product/reinsurance pricing exercises.
• Propose viable product designs and pricing viability to channel heads and product management.
• Prepare and review documents for product/reinsurance filings and approvals.
• Ensure end-to-end completion of product development and management deliverables; review for reasonableness and accuracy.
• Fulfill audit and control requirements and communicate project status.
• Communicate pricing results and product development concerns with internal and external stakeholders.
• Review and approve adhoc task results from different channels.

Skills

Pricing

Project management

Communication

Actuarial software

Stakeholder management

Education

Bachelor's degree in math/statistics

Associate of Society of Actuaries (ASA)

Tools

Actuarial software

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

Provide the Product Actuary/Pricing Professional the required support for pricing, modeling, product development

Roles and Responsibilities:

• Lead simple pricing projects and ensure the accuracy of models being used for pricing exercise. Lead negotiations for reinsurance arrangements
• Provide actuarial technical support/analysis for more complex product/reinsurance pricing exercises
• Provide valuable proposals/counterproposals to channel heads and product management leads regarding product design, positioning, financial viabilities;
• Preparation/Review of required documents for product/reinsurance filing and approval
• Responsible for end-to-end timely completion of all product development and management requirements of Actuarial; review product development and management deliverables for reasonableness and accuracy
• Responsible for fulfilment of all audit and control requirements and communication of projects assigned
• Responsible for communicating with head of Product/Pricing/Chief Actuary/Group Office, other internal stakeholders (PIC, operations, channel heads) and external stakeholders (Regulators Reinsurers, Auditors) pricing results and product development matters with respect to products/projects being lead
• Review and approve adhoc task results; handle simple demands from different channels

Minimum Job Requirements:

• College graduate with at least Bachelor’s degree related in math/statistics
• 5 years progressive experience in actuarial field, with at least 1 year project management experience
• Minimum qualification is an Associate of Society of Actuaries
• Expertise in applied actuarial knowledge and ample understanding of insurance operations/environment; Expertise in actuarial software
• Effectively communicate actuarial results to actuarial heads and other non-actuarial stakeholders

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.