R&D Actuary

Pacific Life Re Limited; Singapore; On-site; SGD 120,000 - 180,000; Full time

Benefits offered by this job

23 days annual leave

Private medical insurance

Life insurance + AD&D

Job summary

Pacific Life Re Limited in Singapore is seeking a skilled R&D Actuary to lead experience analysis and basis setting for inforce treaties, ensuring data readiness for the R&D team across Asia.

You will collaborate with global stakeholders, contribute to pricing and terms of trade development, and support treaty implementations, data management, and analytics within the Asia R&D function.

This role is based in Singapore and offers exposure to multiple Asian markets.

Qualifications

• Qualified or part-qualified Actuary with relevant actuarial experience.
• Strong working knowledge of SQL, Excel and ideally other systems such as R, Python, Tableau or Emblem.
• Strong numerical and analytical skills with the ability to interpret experience data and identify key trends.
• Good understanding of actuarial concepts relating to life and health insurance/reinsurance.

Responsibilities

• Perform experience analysis and basis setting for inforce treaties and communicate results to stakeholders.
• Support governance, implementation and monitoring of inforce management activities with clear documentation.
• Contribute to new treaty implementation, ensuring data extracts are suitable for R&D usage.
• Undertake ad hoc research projects to support internal priorities and client-facing needs.

Skills

Actuarial analysis

Data interpretation

Communication

Stakeholder management

Problem solving

Education

Actuarial qualification (part-qualified)

Tools

SQL

Excel

R

Python

Tableau

Emblem

Job description

Job Title

R&D Actuary

Job Description

The Role

• Perform experience analysis and support the setting and implementation of actuarial bases for inforce treaties;
• Ensure that data stored in PL Re’s global data system is suitable for R&D’s use for Experience Analysis, Terms of Trade development and inforce management; and
• Support Terms of Trade development and other inforce management activities through technical analysis and review.

Reporting into the Manager, R&D in Asia, the role is to:

The individual will perform experience analysis and support basis setting for inforce treaties, working with relevant stakeholders to interpret emerging experience and contribute to inforce management activities. The individual will also collaborate with different functional teams, both locally and globally, on new treaty implementation, system enhancements and data management initiatives.

The individual will also be exposed to a range of Asian markets. The role is part of the Asia R&D team which is responsible for leading the development of Terms of Trade across all our lines of business and territories within Asia. This covers the standard assumptions used for pricing and the valuation of in force business.

This role would be based in Singapore, in line with the rest of the team.

Duties

1. Perform experience analysis and basis setting for inforce treaties:
   • Perform experience analysis for inforce treaties, including data preparation, validation, analysis and interpretation of results.
   • Investigate drivers of experience and emerging trends, including differences across products, benefits, distribution channels and other relevant portfolio.
   • Support the communication experience analysis findings and recommendation to relevant stakeholders.
2. Support the governance, implementation and monitoring of inforce management activities:
   • Prepare clear documentation, analysis and supporting materials for the review and governance of inforce management recommendations.
   • Work with relevant stakeholders to support the implementation of approved changes and ensure that the underlying rationale and assumptions are appropriately documented.
   • Contribute to the continuous improvement of inforce management processes, methodologies and analytical tools.
3. Support new treaty implementation by ensuring the SAP Experience Analysis Extract (EAE) during new treaty implementation is suitable for R&D team’s usage.
4. Undertake ad hoc research projects to support internal research priorities and wider business needs. This may include analysis to support the life reinsurance quoting process, development of pricing bases for new products or market initiatives, and presentations to clients or external parties.

Qualifications & Experience

Essential Expertise:

• Qualified or part-qualified Actuary with relevant actuarial experience, ideally with a background that includes actuarial research, experience analyses or pricing.
• Strong working knowledge of SQL, Excel and ideally other systems such as R, Python, Tableau or Emblem, and a willingness to adopt to new software or systems as required.
• Strong numerical and analytical skills, with the ability to interpret experience data and identify key trends and drivers.
• Good understanding of actuarial concepts relating to life and health insurance/reinsurance, particularly mortality and morbidity experience.
• Good understanding of inforce management principles and how experience analysis can be used to support actuarial and commercial decision-making.
• Practical experience in experience analysis, assumption/basis development, pricing or inforce management.
• Strong interpersonal and communication skills, including the ability to communicate technical analysis clearly to different audiences.

Desirable Experienc e

• Direct or indirect South East Asia, Korea, Japan and/or India market experience and knowledge: culture, legislation, regulations, commercial practices.
• Experience in analysing mortality, morbidity, and/or lapse experience.
• Experience working with large or complex datasets and actuarial/data-analysis tools.

Competencies and Behaviour

• Proactive and accountable, with a strong sense of ownership for assigned work.
• Adaptable and willing to learn, with an openness to new ideas, methodologies and ways of working.
• Detail-oriented, while maintaining an understanding of the broader business context and objectives.
• Effective stakeholder management skills, with the ability to build collaborative relationships and work effectively across functions and markets.

Working For Pacific Life Re

Every person in our global team is valued for the unique qualities they bring to our business and we seek to build their expertise and support their individual ambitions at every step. Of course, we take our work seriously and we know our team can operate under great pressure. We work hard and thrive on achievement, but we also know how to have fun and relax too. We regularly host a range of team building days to strengthen our team’s connection with each other and reflect on their successes.

Providing employees with a healthy work-life balance is very important to our culture. We have a wide range of employee benefits and we host regular social activities and well being initiatives. We are also committed to supporting our employee’s involvement in their communities, by actively fundraising, hosting charity events and overseeing volunteering opportunities.

Benefits

Leave

• 23 days of annual leave with option to buy/sell more days
• Adoption and fertility leave
• Generous enhanced parental leave

Healthcare

• Comprehensive private insurance coverage for employee and dependents
• Group Term Life Insurance coverage of 5x basic annual salary, Group Accelerated CI of 1x annual basic salary and Group Accidental Death & Dismemberment of 3x annual basic salary
• Optical & Dental benefits
• Additional flexi benefits

Wellness

• Access to Employee Assistance Program
• Time off for volunteering
• Charitable matching of employee donations

You Can Be Who You Are

We are committed to a culture of diversity and inclusion that embraces the authenticity of all employees, partners and communities. We support all employees to thrive and achieve their fullest potential.

As part of our commitment to diversity and inclusion, we will provide reasonable adjustments during the recruitment process to ensure equal access to applicants with disabilities. Please contact us about your needs so that we can discuss these with you to make sure that suitable adjustments are made, where possible.