Actuarial managerFWD Group

About FWD Life Insurance
FWD Life Insurance Corporation (FWD Life Insurance) launched its commercial operations in September 2014. As of end-2020, FWD Life Insurance ranks 2nd and 4th in terms of Paid-up Capital(1) and New Business Annual Premium Equivalent(2), respectively.
FWD Group is a pan-Asian life insurance business with approximately 10 million customers across 10 markets, including some of the fastest growing insurance markets in the world. In the Philippines, FWD has 17 business hubs located in key cities nationwide, with its headquarters in Bonifacio Global City in Taguig.
Established in 2013, FWD is focused on making the insurance journey simpler, faster and smoother, with innovative propositions and easy-to-understand products, supported by digital technology. Through this customer-led approach, FWD is committed to changing the way people feel about insurance.
For more information, please visit .
1
Statistics
Life
2020
Based on Paid-Up Capital
2
Statistics
Life
2020
Based on New Business Annual Premium Equivalent
POSITION OVERVIEW:
The Actuarial Manager will report directly to the Actuarial Director, Head of Pricing. This position performs pricing and prototyping of products assigned to him/her, and helps see them through to approvals, implementation and readiness to launch by collaborating with the cross-functional product development team. The role is also expected to conduct experience studies and to provide actuarial-related support to various strategic projects of the company. The role will also review channel initiatives, campaigns, customer requests, user acceptance testing, and other ad hoc projects. On top of these, he may be assigned to mentor and peer review the work of junior members of the team.
KEY RESPONSIBILITIES:
Justify and recommend appropriate pricing assumptions based on experience reviews, market comparison, industry benchmarks, demographic studies, and other available research information
Build / modify robust and automated pricing models in excel/Prophet consistent with pricing standards
Perform experience studies based on available company/ industry data, adjusting for product/company-specific considerations and trends
Working knowledge on relevant local regulations on product filing, pricing, products, forms, illustrations and distribution channels
Actively participate and provide UAT support for cross-functional product initiatives
Provide actuarial support to distribution requests such as compensation review, incentives assessment, and partnership quotations
Prepare relevant actuarial sections of the Product Approval Report, including the necessary documentation of assumptions, profit testing and sensitivity analysis, and be able to address elementary questions from Group Office on product gates
Other adhoc and special projects that may be assigned from time-to-time
REQUIRED SKILLS AND EXPERIENCE:
Graduate of Mathematics, Statistics, Actuarial Science, or similar courses
At least associate of the Actuarial Society of the Philippines
At least 3-4 years actuarial experience, preferably in pricing
Has preferably worked in a multinational insurance company
REQUIRED TECHNICAL SKILLS:
Have proficiency in creating/developing pricing models for new products in Excel; able to write macro programs
Have proficiency in setting pricing assumptions; able to rationalize assumptions through experience review, market comparison and culling of industry experience/assumptions
Have knowledge to perform a reasonable review of forms, contracts, sales illustrations
Have experience in product submission to the Insurance Commission
Can carefully review/make corrections to Product Gate submissions prepared by Product Management team
Have experience in conducting Experience Studies (e.g. Expense Analysis, Withdrawal Experience Study, etc.)
OTHER COMPETENCIES:
Customer Led: Uses feedback and interpersonal ability to establish and maintain positive relationships with customers.
Deliver the vision: Is able to describe what the plans are for own role and function and how they link to the company vision.
People orientated: Delegates work and supports team members to deliver on tasks. Seeks input from team and encourages cooperation towards team goals
Decision making: Involves relevant stakeholders in the decision making process. Recognizes opportunities or problems requiring attention and evaluates the benefits/risks of taking action versus inaction.
Market led: Identifies the importance of different markets, customers and emerging products and technologies relevant to own area
Strategy focused: Delivers against and support the Functions strategy and can articulate the link between the functions strategy and their own role
Cultural alignment: Actively seeks out and shares information about the company culture and acts accordingly as appropriate. Follows procedures, policy and cultural standards.
Drive results: Ensures role KPI's relate and contribute to the broader team objectives. Has specific and measurable goals and tracks progress against them.
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.
FWD Group

Philippines
Permanent
Full-time