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Head of Valuation

FWD Group Management Holdings Limited
Manila, Philippines
Closing date
Aug 4, 2024

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Job Function
Industry Sector
Finance - General
Employment Type
Full Time
About FWD Life Philippines

FWD Life Insurance Corporation (FWD Life Philippines) launched its commercial operations in September 2014. As of end-2022, FWD Life Philippines ranks 3rd and 6th 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 more than 11 million customers across 10 markets, including some of the fastest-growing insurance markets in the world. FWD reached its 10-year anniversary in 2023. The company 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 > 2022 > Based on Paid-Up Capital

2 > Statistics > Life > 2022 > Based on New Business Annual Premium Equivalent
To lead valuation and controls for FWD's actuarial accounts in accordance with applicable local and regional actuarial and accounting standards
Generate useful and actionable insights on key drivers affecting earnings, solvency and capital
Create value through process improvements, model governance and controls, reinsurance optimization and other special projects
1. Valuation, Financial Reporting and Capital Management
  • Perform monthly valuation under local statutory and GAAP frameworks in compliance with the applicable valuation standards prescribed by IC, ASP and Group Office policies
  • Conduct a proper movement and trend analysis of reserves, DAC and other actuarial accounts
  • Provide a robust attribution of earnings analysis to different sources under different reporting frameworks, including drivers, movements and trends
  • Timely and accurate submission of actuarial valuation report, quarterly statistical report, Annual Statement, RBC schedules and other reporting requirements from the Insurance Commission
  • Work closely with EV, Finance and Investment teams to ensure timely, accurate and well-substantiated delivery of financial schedules, decks and actuarial memos
  • Optimize capital levels considering business plans, emerging business mix, and other company strategies
  • Defend financial results during internal, external and regulatory audits
  • Perform financial projections for forecasting, planning and budget cycles
  • Work with the Investment Team to operationalize effective ALM capabilities

2. Models and Controls
  • Establish a strong controls framework, ensuring that the valuation and forecasting process is robust and auditable
  • Conduct thorough experience studies to justify and recommend assumptions
  • Build valuation models in accordance to the model governance policy
  • Minimize model risk by strengthening checks and balances in valuation models

3. Reinsurance
  • Ensure timely and accurate delivery of reinsurance reportorial requirements to reinsurers, regulators and auditors
  • Work closely with operations, claims and underwriters to ensure accurate reinsurance administration and compliance to treaty parameters
  • Streamline the reinsurance administration process

4. Special Projects
  • Oversee IFRS 17 implementation and liaise with Group Office counterparts and external consultants
  • Drive process improvements to streamline the valuation and financial reporting workflow
  • Co-develop financial dashboards in Power BI to provide the ability to perform granular analysis and detailed drilldowns of financial results across various dimensions
  • Provide relevant support in the implementation of company projects that need actuarial expertise
  • Act a subject matter expert in cross-functional teams

  • Must be a graduate of BS Math/Statistics/Actuarial Science or related degree
  • A Fellow of the Actuarial Society of the Philippines (FASP) or an Associate of the Actuarial Society of the Philippines (AASP) and Associate of the Society of Actuaries (ASA) close to completing the requirements for local fellowship
  • At least 8 years' experience in valuation and financial reporting
  • Familiar with the applicable local regulatory and internationally accepted accounting principles and valuation standards
  • Deep understanding of life insurance products and distribution models
  • Preferably worked with a multinational life insurance company
  • Good working knowledge of emerging practices and challenges in IFRS17
  • Ability to manage a team of actuarial associates and achieve results by working with and through cross-functional teams
  • Highest regard for professionalism and integrity
  • Highly proficient in Microsoft Excel, including macro programming
  • Preferably knowledgeable in Prophet or related actuarial software
  • Ability to clearly communicate technical results to both technical and non-technical audiences
  • Effective leader and strong collaborator within and across teams
  • Has great attention to detail
  • Solution-oriented: ability to resolve challenges quickly, decisively and effectively
  • Open-minded to find innovative solutions to typical actuarial challenges

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 Talocity Privacy Policy.

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.

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