Description
Job description :
Product development strategies & pricing review / oversight
- Coordinate product deep dives of planned local business units
- Review major product pricing and sales promotions to ensure compliance with Group Product Pricing and Development policy. Ensure that new products meet the pricing hurdle and risks taken are appropriate and compensated
- Assess new regulatory trend and impact to product strategies and recommend / evaluate action plans
- Keep track of China and TLB market development with dynamic changing of customer needs and technology advancement
- Contribute product ideas and facilitate product knowledge sharing across different local business operations
Product Pricing review
Deep dive on major products including product pricing and MCVNBCoordinate with BU to timely request and receive Product and Underwriting Committee (PURC) materials.Prepare PURC deck slides related to Asia BUs.Facilitate product approval by PURC.Follow up on PURC action items.Actuarial assumption and reserve adequacy
Provide actuarial opinion on BU assumptions update and underlying experience analysisLead the internal governance process on BU assumption updatePerform annual regional actuarial function assessment and deliver actuarial function reportReinsurance strategies & program monitoring
Assess appropriateness of reinsurance strategies in the region and monitor reinsurance programs.Review key new reinsurance treaties.Support BU reinsurance needs and facilitate coordination with Group, including Group Reinsurance Use Committee (GRUC).Capital Management
Review BU solvency report and capital generation.Work with BU on projection, sensitivities for forward looking management.Review and track BU management actions.Asset Liability Management
Participate in key ALM related projects, e.g. China ALM enhancement, etc.Facilitate BU tolerance cube annual update and quarterly reviewMonitor ALM mismatch positions, highlight trends, and provide analysis.Facilitate approval / endorsement of ALM initiatives / ALM cube by Regional / Group CommitteesOthers actuarial projects
IFRS 17 review and analysis of MAG & ATHTF as neededMCVNB analysisSupport annual actuarial review of BMTPSupport M&A projects applicable to Asia marketsSupport BUs local projectSkills knowledge and experience required :
Qualified OR close to qualified actuary7+ years’ experience in the business unit ideally mainland China experience or HK business unit experience with an understanding of mainland insurance market as preferenceDeep understanding of capital regimes, regulatory requirements and reporting standards that are applicable to BUs in China and TLB and the principles underlying themExperience of balance sheet and capital modeling, balance sheet management and reporting on China business is a plusGood understanding in actuarial management cycle, underwriting risk management, experience monitoring & assumption setting and product & pricing reviewGood understanding of the key features of life insurance products and profit drivers and risk associated with different product typesStrong communication skills and demonstrated ability to articulate different technical topics and their financial implicationsStrong problem-solving skillsGood organizational and management skillsFluency in English and Mandarin (both written and oral)Core Competencies and Leadership Qualities
Highly motivated and able to work independentlyAn analytical mind-set with strong problem solving skills and focus on outcomesSelf starter and proactivePurposefully driven with personal accountabilityExecutes objectivesEstablishes valuable partnershipsInfluentialFlexible in business travelEqual Opportunity Employer
Aegon Asia provides equal employment opportunities for employees and applicants throughout the employment life cycle, including recruitment and selection, promotions, transfers, training and development, compensation and benefits, performance management, disciplinary procedures, Company-sponsored social and recreational programs and termination. No one will be discriminated against because of race, color, religion, sex, age, national origin, sexual orientation, gender identity, pregnancy, family circumstances, physical or mental disability, marital status, participation in the uniformed armed services or any other status protected by law.
