Actuarial associate managerFWD Life Insurance Corporation

About FWD Life Insurance Corporation FWD Life Insurance Corporation (FWD Insurance) is part of pan-Asian FWD Group. FWD Insurance launched its commercial operations in September 2014. As of end-2019, FWD Insurance ranks 1st in Customer Experience in About FWD Life Insurance Corporation FWD Life Insurance Corporation (FWD Insurance) is part of pan-Asian FWD Group. FWD Insurance launched its commercial operations in September 2014. As of end-2019, FWD Insurance ranks 1st in Customer Experience in the Philippines(1). FWD Insurance maintains its strong financial position as top 3 and 8 in terms of Paid-up Capital(2) and New Business Annual Premium Equivalent(3), respectively. FWD Group spans Hong Kong & Macau, Thailand, Indonesia, the Philippines, Singapore, Vietnam, Japan, and Malaysia, offering life and medical insurance, general insurance, employee benefits, Shariah, and Family Takaful products across a number of its markets. Established in Asia in 2013, FWD is the insurance business of investment group, Pacific Century Group. In the Philippines, FWD has 17 business hubs located in key cities nationwide, with its headquarters in Bonifacio Global City in Taguig. FWD is focused on creating fresh customer experiences, with easy-to-understand products, supported by digital technology. Through this customer-led approach, FWD aims to become a leading pan-Asian insurer that changes the way people feel about insurance. For more information, please visit . 1 Based on a commissioned Customer Experience Index 2019, conducted by Forrester Consulting 2 Statistics Life 2019 Based on Paid-Up Capital 3 Statistics Life 2019 Based on New Business Annual Premium Equivalent aguiguiBGCB:remeJob Purpose: The Actuarial Associate Manager for IFRS17 helps, together with the IFRS17 Valuation Lead, in the coordination of the Head of Valuation, Chief Actuary, General Accounting, Investments, and other concerned teams, with the Actuarial Consultants designated by the company and FWD Group counterparts with the goal of setting up the end-to-end valuation of reserves of life business for FWD PH's portfolio under the new IFRS17 valuation standards including the relevant analysis on reserve movements and financial reports. The role is also expected to execute the proposed controls and documentation on the end-to-end IFRS17 valuation and reporting process. The role requires completing the team tasks/deliverables as part of regular reporting thru ad hoc assignments Key Responsibilities: Complete assigned tasks related to the implementation of the IFRS17 rollout Plan from FWD Group in coordination with the team lead, Valuation Head, and designated consultants, as well as participating in the actuarial workstreams and coordinating with the Valuation and other Actuarial teams as needed Assist in testing the actuarial models for IFRS17 prepared by the consultants, ensuring the proper classification, treatment, and valuation of the company's insurance contracts, facilitating the discussions and review of the results by working closely with Group Actuarial and Centralized Model Team where needed. Assist in setting up and testing the actuarial valuation and reporting process under IFRS17 together with the IFRS17 team lead, Head of Valuation, and the rest of Finance team, ensuring that the results flow thru from data inputs/sources (Admin system, investments, accounting) to report generation and presentation. Help perform reserve movement analysis and sources-of-earnings, and help in formulating clear explanation of results and drivers to both technical and non-technical audiences, including establishment of robust controls and documentation around the IFRS17 valuation process Assist the valuation team in completing regular submissions for regulatory reporting (e.g. AVR, Annual Statement, RBC, etc.) and regional reporting (e.g. IFRS templates, analysis of reports, SOE, etc.) Help other teams (Pricing and Corporate Planning, Controllership, Investments) on completing insurance product classifications, earnings emergence, setting of pads, and other relevant valuation insights Continuously improve valuation process by streamlining manual processes, DCS automation, etc. Other special projects and ad hoc tasks that may be assigned from time-to-time (e.g., experience studies) Requirements: Graduate of Mathematics, Statistics, Actuarial Science, or similar courses Near Associate or Associate of the Actuarial Society of the Philippines (AASP) At least 5 years actuarial experience, preferably in valuation Has worked in a multinational insurance company, with exposure to IFRS17 implementation Has relevant experience in using FIS Prophet and Data Conversion System (DCS) Willing to work in BGC, Taguig Technical Competencies/Skills: Problem Solving: Communication: Innovation: Privacy Notice Your privacy is a priority for FWD. The Company keeps your personal information with us in confidence. To know more about how we process your information, kindly refer to our FWD Recruitment Privacy Notice. FWD has partnered with Talocity Instasolutions Private Limited ("Talocity") to manage the initial filtering of candidate's profiles through video interviews, social profile mapping, and video analytics using artificial intelligence engine that is offered within the Talocity platform. The platform evaluates the candidate on the five well-known dimensions as per OCEAN Personality Model that influence occupational success and help understand workplace behavior. For more information, please refer to . When you apply, FWD will share your name, phone number and email address to Talocity to contact you and conduct the initial screening and profiling process. Shortlisted candidates will then be contacted by FWD for the face-to-face interview.
Monster

Philippines
Permanent
Full-time