Life Pricing Manager

FWD SINGAPORE PTE. LTD.; Singapore; On-site; SGD 120,000 - 180,000; Full time

Job summary

FWD Singapore Pte. Ltd. seeks an experienced pricing actuary to support the Head of Pricing in developing and pricing life insurance products in Singapore.

You will build actuarial pricing models, perform sensitivity analyses, and ensure compliance with RBC2, IFRS17, and internal policies. You will collaborate with product, IT, risk and compliance teams, prepare product filings, propose assumptions with the Appointed Actuary, drive pricing governance, and mentor junior pricing actuaries to

Qualifications

• Qualified actuary from a recognized professional actuarial body is preferred.
• Min 6-8 years of actuarial experience in individual life product pricing.

Responsibilities

• Develop actuarial pricing model for new or repriced products.
• Perform pricing financial assessment and sensitivity testing to support competitive product launches with governance.
• Identify pricing risks and support senior team in alignment at PMC.
• Collaborate with product, IT, risk & compliance to ensure end-to-end product development and implementation with audit trail.
• Prepare internal and external product filings.
• Work with Appointed Actuary to justify pricing assumptions.
• Drive initiatives to enhance pricing process efficiency and governance/controls.
• Support discussions on reinsurance with Product team.
• Assist in special quotations.
• Guide/lead junior pricing actuaries to ensure quality and timely deliverables.

Skills

Actuarial pricing

Pricing models

Regulatory knowledge

Stakeholder collaboration

Leadership

Education

Actuarial qualification (recognized body)

Tools

Prophet

Job description

PURPOSE

Support the Head of Pricing in the pricing of life insurance products.

KEY ACCOUNTABILITIES

• Develop actuarial pricing model for new or repriced products.

• Perform pricing financial assessment and sensitivity testing to support the Team in launching competitive products whilst ensuring compliance to internal policies, regulatory requirements and industry guidelines.

• Identify pricing risks and support Team Lead in developing solutions for alignment at the PMC.

• Collaborate with wider business (including product development, IT, risk & compliance, etc) to ensure timely end-to-end product development and implementation with good audit trail.

• Prepare internal (FWD local entities and FWD Group) and external product filing.

• Work closely with Appointed Actuary in proposing assumptions for new products and justifications.

• Pro-actively drive initiatives/projects to enhance overall pricing process efficiency and governance/controls.

• Support discussion and negotiation on reinsurance, together with Product team

• Assist in special quotations.

• Guide/lead junior pricing actuaries to ensure quality and timely deliverable.

QUALIFICATIONS / EXPERIENCE

• Qualified actuary from a recognized professional actuarial body is preferred.

• Min 6 - 8 years of actuarial experience, with individual life product pricing experience.

KNOWLEDGE, SKILLS & ABILITY

• Strong knowledge on (i) Singapore RBC2 or similar regulatory framework, (ii) embedded value and (iii) IFRS17

• Good knowledge of Life insurance products in the Singapore market would be an advantage.

• Proficient in Prophet.