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 of actuaries managing the Group Insurance and A&H portfolio, supporting A&H business initiatives and delivering data-driven insights to achieve overall business objectives. This role offers a unique opportunity to gain hands-on experience in product pricing, product development, monitoring of products performance and providing actuarial support to actuarial valuation team and A&H business teams, within the Integrated Shield health insurance space.
- Product pricing and data analysis, by developing and enhancing in-house statistical capability, which includes:
- Design and develop pricing models that meet internal and regulatory requirement.
- Design and perform data analysis with the aim of providing actionable insights, as well as setting pricing assumptions.
- Assist the Company in driving the A&H business through periodic profitability study, experience analysis and portfolio performance analysis.
- Assist in the financial management of the business, including reinsurance program review.
- Support business units in achieving their key performance indicators, such as generating relevant reports for monitoring and tracking purposes.
- Collaborate with internal/ external stakeholders to price and develop A&H products, particularly Integrated Shield Plan. This includes:
- Collaborating with internal stakeholders on the design and pricing of the products.
- Work closely with underwriters and claims managers to integrate new product features and improvement in processes into their day to day operational activities.
- Provide technical support on business decisions, such as marketing, underwriting, claims management and system development.
- Support A&H reserving and financial reporting processes, which includes:
- Assist in the preparation of A&H actuarial reserves and financial reporting under local and international standards (ie. RBC2, IFRS17).
- Support the development and maintenance of valuation models, relevant coding and assumption setting.
- Collaborate with finance and actuarial valuation teams to ensure consistency and accuracy in actuarial inputs, through close reconciliation between actuarial and finance key figures.
- Bachelor's degree in Actuarial Science, Mathematics, Statistics, or a related field.
- A near qualified Actuary.
- 4 years or above in relevant actuarial roles.
- Candidates who have passed IFoA SP1/SA1, or SOA GH101/GH301, or IAA General Insurance and Health specialisation, or CAS Exam 5, or are actively pursuing actuarial certification, will be given priority consideration.
- Experience working closely with underwriting, claims and product developers.
- Experience in project management and presenting financials to management.
- In depth knowledge of GI, Group, A&H insurance products and actuarial practice.
- Excellent in statistical analysis, problem solving and communication skills.
- Proficient in MS Excel.
- Good knowledge of statistical packages and strong interest in programming (e.g. SAS, SQL, VBA, Prophet).
- Familiar with IP Shield, General Insurance products, reinsurance structures, AS400 system data structure, RBC2, IFRS17 and Prophet programming will be an advantage.
How You Succeed
- Champion and embody our Core Values in everyday tasks and interactions.
- Demonstrate high level of integrity and accountability.
- Take initiative to drive improvements and embrace change.
- Take accountability of business and regulatory compliance risks, implementing measures to mitigate them effectively.
- Keep abreast with industry trends, regulatory compliance, and emerging threats and technologies to understand and highlight potential concerns/ risks to safeguard our company proactively.
Who We Are
Founded in 1908, Great Eastern is a well-established market leader and trusted brand in Singapore and Malaysia. With over S$100 billion in assets and more than 16 million policyholders, including 12.5 million from government schemes, it provides insurance solutions to customers through three successful distribution channels a tied agency force, bancassurance, and financial advisory firm Great Eastern Financial Advisers. The Group also operates in Indonesia and Brunei. The Great Eastern Life Assurance Company Limited and Great Eastern General Insurance Limited have been assigned the financial strength and counterparty credit ratings of AA- by S&P Global Ratings since 2010, one of the highest among Asian life insurance companies. Great Eastern's asset management subsidiary, Lion Global Investors Limited, is one of the leading asset management companies in Southeast Asia. Great Eastern is a subsidiary of OCBC, the longest established Singapore bank, formed in 1932. It is the second largest financial services group in Southeast Asia by assets and one of the world's most highly-rated banks, with an Aa1 rating from Moody's and AA- by both Fitch and S&P. Recognised for its financial strength and stability, OCBC is consistently ranked among the World's Top 50 Safest Banks by Global Finance and has been named Best Managed Bank in Singapore by The Asian Banker.
To All Recruitment Agencies
Great Eastern does not accept unsolicited agency resumes. Please do not forward resumes to our email or our employees. We will not be responsible for any fees related to unsolicited resumes.
Work Locations
SG-GE Centre
Job
Actuarial
