Actuarial, Analyst

At AIA we've started an exciting movement to create a healthier, more sustainable future for everyone.

It's about finding new ways to not only better people's lives, but to better the communities and environments we live in. We need great Actuaries who want to be part of something bigger than finance alone. Because the better we can nurture our financial wellbeing as an organisation, the better we can support and make a difference for our customers when they need us most. By ensuring our products are well designed and priced, analysing business performance and ensuring proper management of insurance policies in-force, you're not just safeguarding AIA's financial wellbeing. You're securing a better future for the people and communities we serve - today, tomorrow and for generations to come.

If that interests you, read on.

About the Role

Support the Associate Director in product development and maintenance / distribution initiatives by preparing product pricing / financial analysis and performing system checks.

Roles and Responsibilities:

Product / distribution initiative

• Prepare new product pricing and financial analysis of distribution initiatives to meet the financial requirements of the company. Conduct profitability analysis of existing products. (40%)
• Review and propose amendments to product design and actuarial basis to be applied in new product pricing and profitability analysis. (10%)
• Responsible for the actuarial related areas in the product implementation cycle to ensure accuracy and timeliness of system delivery. Responsible for meeting the timeline and schedule for product internal and regulatory approval process. (20%)

Other responsibilities

• Communicate with IT and prepare user requirement for various studies and system development. (10%)
• Develop special quotations. (5%)
• Perform other responsibilities and duties periodically assigned by supervisor in order to meet operational and/or other requirements. (10%)
• Assist manager in coordinating among teams on ad-hoc tasks. (5%)

Financial and Non-Financial Measures:

• Accuracy and timeliness in preparing new product pricing / distribution initiative assessment based on agreed timeline
• Accuracy and timeliness in completing tasks assigned
• Proactiveness in spotting errors in existing workings

Communication Requirements

Internal (90%)

• Product: regular communication with supervisor and other departments on product development, implementation and monitoring issues
• Finance / IT / Operations / distribution channels: discussion on various issues for product / channel compensation / system testing and related requirements

External (10%)

• Reinsurer: discussion on various issues for reinsurance treaty
• Agents: communication with agents on special quotation request and enquiry

Most challenging type of communication

• Discussion with different parties involved in reinsurance to ensure accuracy and actuarial comments are well addressed, as well as manage the treaty signoff timeline
• Communication with agency on product enquiry and special quotation requests.

Minimum Job Requirements:

• University / College graduate in Actuarial Science or relevant subject
• Knowledge in insurance products and market trend
• Proficient in MS Office and data analysis techniques, knowledge of actuarial software will be an advantage
• Proficient in MS Office and database skills
• Good command of written and spoken English and Chinese
• You are required to obtain relevant license if your job involves in regulated activities

Build a career with us as we help our customers and the community live Healthier, Longer, Better Lives.

You must provide all requested information, including Personal Data, to be considered for this career opportunity. Failure to provide such information may influence the processing and outcome of your application. You are responsible for ensuring that the information you submit is accurate and up-to-date.