Assistant Manager Product Development Actuarial

Experience

· At least 4 years’ experience in an actuarial function focused on pricing of new products or repricing/ product review

· Practical end to end Product development experience

· Good interpersonal communications skills

· Good writing and verbal communications skills

· Sensitivity to Customer needs

Product development:

· Work actively with the business development teams and liaise with the Group to price and provide actuarial support for new products

· Individual Life insurance product pricing from ideation to product launch

· Regular reviewing and monitoring of internal experience and trends to ensure company product pricing meets profit targets

· Repricing methodologies and bases and, where appropriate, development of new pricing techniques and rating factors in liaison with the Group

· Ensure product pricing is consistent with the set underwriting policy and regulatory guidance

· Provide analysis to support the renegotiation of existing group contracts

· Assist system vendors in product setup in the administration system

· Review and monitor experience on all products to inform pricing assumptions and decision-making including profit testing of existing products

· Prepare reports on product performance for management decision making

· Work closely with reassures to ensure treaty optimization

· Product Approvals: Drive the product approval process both within the Company and externally with the Insurance Regulator and other government bodies – where relevant.

· Product Documentation: Develop and continually review product training manuals and marketing materials that are appropriate to the target market and distribution channel of the products.

Valuation:

· Assist with new product implementation into the valuation systems and provide future projections under the valuation standards at the time

· Assess the capital requirements of new products that assists with capital consumption and choice of product designs

Experience Investigation:

· Assist with the annual experience investigations on key assumptions for pricing and valuations.

· Sensitivity analysis and impact assessment of the various assumptions

Asset Liability Modeling (ALM):

· Assist with the quarterly preparation of ALM calculations and presentations to management in relation to the new and existing products

Actuarial Modelling:

· Building and maintaining models for pricing, Value of New Business (VNB), ALM, capital modeling and experience investigations