About FWD Group
FWD Group (1828.HK) is a pan-Asian life and health insurance business that serves more than 38 million customers across 10 markets, including BRI Life in Indonesia. FWD's customer-led and tech-enabled approach aims to deliver innovative propositions, easy-to-understand products and a simpler insurance experience. Established in 2013, the company operates in some of the fastest-growing insurance markets in the world with a vision of changing the way people feel about insurance. FWD Group is listed on the main board of the Hong Kong Stock Exchange under the stock code 1828.
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In Singapore, FWD aims to change the way people feel about insurance by leveraging technology to deliver products and services that are relevant, easy to understand and always convenient for our customers. To this end, we have a direct-to-consumer (DTC) platform that allows customers to buy their preferred life and general insurance products directly from our website as well as a network of preferred Financial Advisory (FA) firms for customers who want to speak with an advisor before committing to an insurance plan. Whatever their preference, we believe insurance should be simple, reliable and convenient.
If you are looking for a career where you can create a real impact and celebrate living, we invite you to join us on our exciting journey.
PURPOSE
Act as the Head of Life Actuarial and Life Pricing, Appointed Actuary of FWD Singapore to oversee all actuarial-related matters within life insurance business units.
KEY ACCOUNTAIBILITIES
- Act as Appointed Actuary for FWD Singapore and comply with all the applicable MAS requirements and LIA/SAS guidelines
- Produce the relevant reserve and actuarial items for local and IFRS accounts
- Review and sign-off calculation of Embedded Value (EV) and Value of New Business (VNB)
- Oversee the life pricing function, including ensuring appropriateness of premium rates.
- Review and approve the products according to the requirements and professional guidelines from the MAS, Life Insurance Association, and the FWD Group
- Review and approve channel compensation schemes
- Support CFO in ensuring sound asset liability management and capital management practices
- Drive experience analyses and ensure appropriate assumption setting and review
- Conduct stress test exercise for the purpose of ORSA reporting
- Oversee IFRS 17 implementation on actuarial aspects
- Formulate reinsurance strategy to ensure sound risk management
- Ensure product risks and financial risks relating to the area of pricing, experience analysis, financial reporting, stress testing, asset liability management, capital management and all other areas of work are promptly highlighted and addressed.
- Manage regulatory relationship
- Implement proper controls and change management processes across both functions
- Develop actuarial and product development talents across both teams
QUALIFICATIONS / EXPERIENCE
- 15+ years of actuarial experience covering both life insurance product pricing and financial reporting functions
- Fellowship in a recognized international actuarial professional body
KNOWLEDGE, SKILLS & ABILITY
- Strong business acumen and communication skill, with proven ability to influence and work with business functions
- Strong product development background and good knowledge of the life product landscape in Singapore
- Strong knowledge and understanding of Singapore RBC2 and Embedded Value concepts
- Strong team management with at least 6 years of supervisory experience
- Strong interpersonal skills with the ability to communicate at all levels including senior stakeholders and external stakeholders such as regulators
- Strong analytical and problem-solving skills
