Actuarial Analyst

We are seeking a motivated and aspiring actuary to join our Accident &Health (A&H) actuarial team. You will be part of a dynamic team ofactuaries managing the Group Insurance and A&H portfolio, supportingA&H business initiatives and delivering data-driven insights to achieveoverall business objectives. This role offers a uniqueopportunity to gain hands-on experience in product pricing, product development, monitoring of productsperformance and providing actuarial support to actuarial valuation team and A&Hbusiness teams, with a focuson the Group Insurance and Personal Accident space.

·      Product pricing and data analysis, by developingand enhancing in-house statistical capability, which includes:

• Design and developpricing models that meet internaland regulatory requirement.
• Build, implement and maintain a comprehensiveup-to-date database that is consistent, well-defined and well-reconciled to beused by internal stakeholders and to performdata analysis, with the aim of providingactionable insights as wellas setting pricing assumptions.
• Participate in product revamp, new benefitsenhancement, maintenance of quotation tools and premium calculators.
• Assist the Company in driving the A&Hbusiness through periodic profitability study,experience analysis and portfolio performance analysis. Actively monitor actualexperience of policies against pricing quotations to identify early actionsthat should be taken to enhance portfolio performance.
• Assist in the financial management of thebusiness, including reinsurance program review.
• Support business units in achieving their keyperformance indicators, such as generating relevant reports for monitoring andtracking purposes.

·       Collaboratewith internal/ external stakeholders to design, price and develop A&Hproducts, particularly Group Insurance and Personal Accident products. This includes:

• Work closely with underwriters and claimsmanagers to integrate new product features and improvement in processes into their day to day operational activities.
• Provide technical supporton business decisions, such as marketing, underwriting, claims management and system development.
• Identify and implement process improvements forend-to-end Group Insurance business process to enhance efficiency and ensurerobustness in quotation processes.

·       SupportA&H reserving and financial reporting processes, which includes:

• Assist in the preparation of A&H actuarialreserves and financial reporting under local and international standards (ie.RBC2, IFRS17).
• Support the development and maintenance ofvaluation models, relevant coding and assumption setting.Perform annual assumption setting exerciseto review key quotationcomponents such as pricing model, pricing approach, pricing process, dataintegrity and quality, risk rates, inflation,trending approach, group discount, and IBNR loading.
• Collaborate with finance and actuarial valuationteams to ensure consistency and accuracy in actuarial inputs, through closereconciliation between actuarial and finance key figures
• Facilitate business planning and interpretationof monthly Group Insurance P&L through understanding of RBC2 and IFRS17P&L standards, and compilation of monthly relevant financials

We are looking for people who

·        Bachelor’s degreein Actuarial Science,Mathematics, Statistics, or a relatedfield.

·        3 years or above in relevant actuarial roles.

·        Candidates who have passed IFoA SP1/SA1, or SOA GH101/GH301, or IAA General Insuranceand Health specialisation, or CAS Exam 5, or are actively pursuingactuarial certification, will be given priorityconsideration.

·        Experience working closely with underwriting,claims and product developers.

·        Experience in project management and presentingfinancials to management.

·        In depth knowledgeof GI, Group, A&H insuranceproducts and actuarial practice.

·        Excellent instatistical analysis, problem solving and communication skills.

·        Proficient in MSExcel.

·        Good knowledge of statistical packages andstrong interest in programming (e.g. SAS, SQL,VBA, Prophet).

·        Familiar with reinsurance structures, AS400system data structure, RBC2, IFRS17 and Prophet programming will be an advantage.

How you succeed

·       Championand embody our Core Values ineveryday tasks and interactions.

·       Demonstratehigh level of integrity and accountability.

·       Take initiative to drive improvements andembrace change.

·       Take accountability of business and regulatory compliance risks, implementing measures to mitigate them effectively.

·       Keepabreast with industry trends, regulatory compliance, and emerging threats and technologies to understand and highlightpotential concerns/ risks to safeguard our company proactively.

Who we are

Founded in 1908, Great Eastern is a well-established market leader and trusted brand inSingapore and Malaysia. With over S$100 billionin assets and more than 16 millionpolicyholders, including 12.5 million from government schemes, itprovides insurance solutions to customers through three successful distributionchannels – a tied agency force, bancassurance, and financial advisory firm GreatEastern Financial Advisers. The Group also operates in Indonesia and Brunei.

The Great EasternLife Assurance CompanyLimited and GreatEastern General Insurance Limited have been assignedthe financial strengthand counterparty creditratings of "AA-" by S&P Global Ratings since 2010, one of the highest among Asian life insurancecompanies. Great Eastern's assetmanagement subsidiary, Lion Global Investors Limited, is one of the leading asset management companiesin Southeast Asia.

Great Eastern is a subsidiary of OCBC, the longest established Singapore bank, formed in 1932. It is the secondlargest financial servicesgroup in Southeast Asia by assetsand one of the world’s most highly-rated banks, with anAa1