Job Purpose
To strengthen the in-house actuarial capability in the area of general insurance and provide actuarial support to general insurance business.
The Job
· Performs valuation and assist in preparation of reserve review reports
· Supports implementation of target operating model for IFRS 17, including the assessment of insurance reserves, profit and loss.
· Collaborates with internal/ external stakeholders to price and develop GI products.
· Provide pricing guidance and review support across entities.
· Assists the Company in driving the GI business through experience and profitability analysis on various business lines.
· Performs business projections for business planning, stress scenario construction and stress testing under both RBC and IFRS 17 basis.
· Supports Reinsurance (RI) related assessment, such as optimal RI assessment, RI accounting and financial reporting.
· Develops and enhances in-house statistical capability using SAS software, which includes:
a) Periodic data preparation for valuation and pricing
b) Assist in the financial management of the general business
c) Support business units by generating required reports
· Provide technical support on other general insurance related matters, such as marketing, underwriting and claims management
· 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.
Our Requirements
· Degree in Actuarial or relevant fields, and good progress in Actuarial examinations
· Excellent in statistical analysis, problem solving and communication skills
· Proficient in MS Excel and good knowledge of statistical packages and strong interest in programming (e.g SAS, SQL, VBA, Prophet)
· Familiar with general insurance, RBC2, reinsurance structures, IFRS17, and AS400 system data structure will be an advantage
· At least 5 years of relevant working experience
· Demonstrates alignment with the organisation’s core values through expected behaviours
· High level of integrity, takes accountability of work and good attitude over teamwork.
· Takes initiative to improve current state of things and adaptable to embrace new changes.
About Great Eastern
Established in 1908, Great Eastern places customers at the heart of everything we do. Our legacy extends beyond our products and services to our culture, which is defined by our core values and how we work. As champions of Integrity, Initiative and Involvement, our core values act as a compass, guiding and inspiring us to embrace the behaviours associated with each value, upholding our promise to our customers - to continue doing our best for them in a sustainable manner.
We work collaboratively with our stakeholders to look for candidates who exhibit or have the potential to embrace our core values and associated behaviours, as these are the key traits that we expect from our employees as they develop their careers with us.
We embrace inclusivity, giving all employees an equal opportunity to shine and play their role in exploring possibilities to deliver innovative insurance solutions.
Since 2018, Great Eastern has been a signatory to the United Nations (UN) Principles of Sustainable Insurance. Our sustainability approach around environmental, social, and governance (ESG) considerations play a key role in every business decision we make. We are committed to being a sustainability-driven company to achieve a low-carbon economy by managing the environmental footprint of our operations and incorporating ESG considerations in our investment portfolios; improving people’s lives by actively helping customers live healthier, better and longer; and drive responsible business practices through material ESG risk management.
To all recruitment agencies: Great Eastern does not accept unsolicited agency resumes. Please do not forward resumes to our email or our employees. We will not be responsible for any fees related to unsolicited resumes.
