Manager - Pricing

The Great Eastern Life Assurance Company Limited; Santo Niño 1st; On-site; PHP 600,000 - 1,200,000; Full time

Job summary

The Great Eastern Life Assurance Company Limited is seeking an experienced actuary to price and manage profitability for life insurance products. You will support pricing strategy, develop methodologies aligned with regulatory standards and collaborate with internal teams to implement product features.

Ideal candidate holds an internationally recognized actuarial qualification with at least 5 years in the actuarial field, and demonstrates strong analytical, communication, and risk-management

Qualifications

• Qualified/Nearly qualified Actuary from an internationally recognized actuarial professional body.
• At least 5 years of working experience in the Actuarial field.
• Detail-oriented, efficient, self-motivated and able to work under pressure.
• Good interpersonal, writing and verbal communication skills.
• Good technical and analytical skills.

Responsibilities

• To price participating, non-participating and investment-linked products and ensure the profitability of the products is align with Company's business strategy.
• To support the implementation of overall product and pricing strategy of life insurance products.
• To develop pricing methodologies in line with actuarial principles and regulatory requirements and design and develop pricing models that meet the internal and regulatory requirements.
• To ensure compliance with internal product and pricing policies, processes, profit margins and external regulatory guidelines to obtain approval/filing for product launches.
• Partner internal functions to integrate new individual life product features into their day-to-day operational activities, including initiating process improvements.
• Lead discussion with reinsurers and develop suitable reinsurance structures for products requiring reinsurance.
• Takes accountability in considering business and regulatory compliance risks and takes appropriate steps to mitigate the risks.
• Maintains awareness of industry trends on regulatory compliance, emerging threats and technologies in order to understand the risk and better safeguard the company.
• Highlights any potential concerns/risks and proactively shares best risk management practices.

Skills

Detail-oriented

Communication skills

Analytical skills

Pressure handling

Education

Actuary qualification

Job description

Key Responsibilities

• To price participating, non-participating and investment-linked products and ensure the profitability of the products is align with Company's business strategy.
• To support the implementation of overall product and pricing strategy of life insurance products.
• To develop pricing methodologies in line with actuarial principles and regulatory requirements and design and develop pricing models that meet the internal and regulatory requirements.
• To ensure compliance with internal product and pricing policies, processes, profit margins and external regulatory guidelines to obtain approval/filing for product launches.
• Partner internal functions to integrate new individual life product features into their day-to-day operational activities, including initiating process improvements.
• Lead discussion with reinsurers and develop suitable reinsurance structures for products requiring reinsurance.
• Takes accountability in considering business and regulatory compliance risks and takes appropriate steps to mitigate the risks.
• Maintains awareness of industry trends on regulatory compliance, emerging threats and technologies in order to understand the risk and better safeguard the company.
• Highlights any potential concerns/risks and proactively shares best risk management practices.

a) Qualifications

Qualified/Nearly qualified Actuary from an internationally recognized actuarial professional body.

b) Working Experience

At least 5 years of working experience in the Actuarial field.

c) Competencies

Detail-oriented, efficient, self-motivated and able to work under pressure Good interpersonal, writing and verbal communication skills Good technical and analytical skills