Sr Executive/Assistant Manager, Actuarial Pricing

China Taiping Insurance (Singapore) Pte Ltd; Singapore; On-site; SGD 70,000 - 90,000; Full time

Job summary

A leading insurance company in Singapore is seeking an Actuarial Analyst to provide support in product pricing and implementation. The role requires a strong knowledge of pricing models, compliance with regulations, and coordination with various teams. The ideal candidate will possess a degree in Actuarial Science or related fields, along with a minimum of 3 years of actuarial experience. Proficiencies in Microsoft Office and actuarial computing tools such as VBA, SQL, R, and Prophet are essential for success in this position.

Qualifications

• Minimum 3 years of actuarial experience.
• Strong knowledge of pricing models and methodologies.
• Must comply with regulatory requirements and guidelines.

Responsibilities

• Provide actuarial support in product development and pricing.
• Ensure premium rates are adequate and compliant.
• Coordinate with teams for product implementation and reinsurance.

Skills

Strong actuarial knowledge

Analytical skills

Problem solving skills

Team player

Attention to detail

Microsoft Office proficiency

Actuarial computing (VBA, SQL, R, Prophet)

Education

Undergraduate degree in Actuarial Science, Math or Statistics

Job description

Job Responsibility

• New Product Pricing
  – Liaise and coordinate with Product team to provide actuarial support in product development process. It includes:
  1) Develop and maintain pricing models, ensure accuracy and robustness in technical pricing
  2) Propose assumptions and methodologies used in pricing
  3) Use relevant pricing model to derive premium rates and assess profitability, as well as highlighting key risks associated with the product;
  – Ensure that the proposed premium rates are adequate and provide sufficient resilience against risks;
  – Ensure that the assumptions used in pricing are consistent with internal guidelines / experience and pricing methodology is compliance with both regulatory and internal requirement;
  – Comply with internal and regulatory filing requirements in relation to pricing, create higher standard on the premium certification report & regulatory filing processes

• Product Implementation
  – Liaise and coordinate with Product, Operation and IT teams to provide actuarial support to new product implementation, which includes operational set-up, system testing and policy documents review;
  – Provide actuarial support in preparing policy illustration of life insurance products and ensuring that they are compliant with industry / regulatory requirement

• Reinsurance
  – Point of contact with reinsurers;
  – Coordinate and participate in reinsurance contracts review;
  – Other reinsurance matters which includes retention limit review

• Other product related project
  – Handle special quotations and other policy servicing queries;
  – Conduct regular evaluation of distribution remuneration structure, including assessing its market relevance and financial sustainability;
  – Provide actuarial support to review / evaluate any relevant corporate initiatives / incentive / campaign

Requirements

• Undergraduate degree from a recognized university, major in Actuarial Science, Math or Statistics preferred

• Minimum 3 years of actuarial experience

• Strong actuarial knowledge, strong analytical and problem solving skills

• Engaging and open minded working attitude with emphasis on being a good team player

• Meticulous for detail in risk assessment and profitability analysis

• Proficient in Microsoft Office (Excel, Words, Power Point)

• Proficient in actuarial computing (VBA, SQL, R, Prophet)