Job Title
R&D Actuary
Job Description
The Role
Reporting into the Manager, R&D in Asia, the role is to:
· 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.
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:
(i) Perform experience analysis for inforce treaties, including data preparation, validation, analysis and interpretation of results.
(ii) Investigate drivers of experience and emerging trends, including differences across products, benefits, distribution channels and other relevant portfolio.
(iii) Support the communication experience analysis findings and recommendation to relevant stakeholders.
2. Support the governance, implementation and monitoring of inforce management activities:
(i) Prepare clear documentation, analysis and supporting materials for the review and governance of inforce management recommendations.
(ii) Work with relevant stakeholders to support the implementation of approved changes and ensure that the underlying rationale and assumptions are appropriately documented.
(iii) 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,…