About Risk Management
We live in turbulent and uncertain times, and Swiss Re’s vision of making the world more resilient through both our investment and our business activities is needed now more than ever. Risk Management is uniquely positioned to help make Swiss Re itself more resilient, enriching risk taking by using our accumulated risk knowledge, perspective, and experience. We help identify risks worth taking as well as steer away from risks that could destabilise the business. We deliver accurate valuations of the business to ensure appropriate reserves are available as well as providing in depth views on how business is performing. In other words, we help ensure the profitability of Swiss Re so that we’re around long-term to honour our promises.
About the Team
L&H Valuation forms part of the L&H Chief Risk Officer unit. The teams are accountable for independent valuation of Swiss Re's L&H business globally, with US GAAP reserves of more than USD20bn.
The L&H Valuation and Analysis Team is responsible for the production and analysis of quarterly and annual reserves for the Life & Health Reinsurance business written by Swiss Re. This includes business written across the world and covers all the lines of business that fall into L&H – mortality, CI, DI, longevity, as well as additional 'complex' products such as those with financial risk.
As well as production of the numbers, the team is responsible for ensuring timely and accurate information is fed back to the market units to ensure proactive decisions are taken to steer the L&H business in the best possible way
About the Role (Contract duration: 1.5 years)
This role is a key contributor to the development and implementation of processes for the International Financial Reporting Standard ("IFRS") 17 accounting standards for the Asia business.
Your main responsibilities will include implementation of IFRS reporting, including quantification of impacts, process set up, documentation and handover. Additionally, you will contribute to development and provision of the training process for the Asia actuarial team for IFRS17 reporting.
The key activities of the L&H Valuation team that you will be primarily responsible include:
- Support the production/review of the balance sheet and earnings under IFRS17
- Contributing to the establishment of a new IFRS17 end-to-end reporting process.
- Assisting in review and comment on global IFRS17 implementation approach in various areas.
- Support IFRS17 training and engage Actuarial team to prepare for the implementation. Understand the impact to earnings and balance sheet and provide insight to management
- Communicate the issues/challenges with senior actuaries or stakeholders on time
- Ad hoc assistance when needed for quarterly reserving and reporting processes of Asia business
- Assist in in-force data quality and proper determination of policy liabilities for Singapore Statutory
About You
- Strong knowledge and working experience in L&H business, plus the ability to communicate business needs with internal clients and external regulators is key to success in this role;
- At least 3+ years of L&H valuation or pricing experience in reinsurance, primary insurance or insurance consultancy;
- Attained or close to attaining fellowship in actuarial examinations;
- Excellent interpersonal, communication, organisational skills;
- Ability to balance rigorous technical requirements and business mind-set to be solutions oriented; Strong technical knowledge and the ability to analysis large amounts of data;
- A good understanding of IFRS 17 and MCEV. Knowledge in Singapore local reserving standard would be considered an advantage;
- Proficient in MS Excel. Knowledge of MS Access and/or SQL would be considered an advantage.
