Senior Actuarial Manager/Head Modelling

Key accountabilities:

  • Take ownership and manage the existing Prophet actuarial models for Asia entities, including various regional projects and other actuarial areas to improve work efficiency and quality
  • Lead and build expertise in the relevant subject matter, including establishing all models and modules needed for the region
  • Ensure actuarial modelling and results are at high quality, efficiently produced, tightly controlled and supported by meaningful analysis
  • Manage the deliverables and resources of the team, and take responsibility of education / knowledge transfer to local entities and actuarial teams
  • Proactively engage Group technical modelling team to ensure alignment of actuarial processes to appropriate methodology and refining processes as needed
  • Manage the resources, priorities and schedule of the team and maintain higher utilization
  • Understand the existing Prophet and Excel models and drive the consistency of future model developments across entities in the region. Lead and maintain such models going forward.
  • Ensure an optimal design of infrastructure and functions of the new platform. Develop, for the region, the actuarial models and corresponding processes / guidelines in this platform.
  • Centrally manage the actuarial models within the team and provide advice to change requests from the region in a timely manner
  • Ensure correct use of models to comply with Group and local regulatory requirements and actuarial work (e.g. valuation and pricing, experience study, solvency)
  • Keep abreast with the latest development of software and make sure adoption of functionalities to improve the models
  • Develop new functionalities within and around the model to enhance the usability of the model across various Actuarial functions
  • Transfer knowledge to the local teams via setting guidelines, coaching and training sessions.
    • Lead new platforms with the ultimate goal of extending functions to other actuarial processes and across entities in Asia
    • Maintain the solvency 2 model and expand it to other countries in the region:
      • Establish and implement standards and guidelines to the actuarial models to ensure good quality control within the region: Take ownership of the models and its implementation and reliable usage across the region
      • Ensure all cash flow projections are accurate and complete
      • Ensure adequate documentation is in place for all model developments and modifications for a good control framework
      • Develop best practices in software development to ensure efficiency and consistency in variable naming, coding and model structure
      • Ensure the model is properly checked and validated before promoting it to production
    • Identify and mitigate potential risks that may compromise the quality of the results from the Prophet and Sunrise model.
    • Manage and streamline requests from regional and local modelling teams to provide according services to ensure high quality deliverables meet users’ requirements
    • Perform peer review on technical specifications (TS) prepared by local and regional teams. Ensure TS are clear, complete and properly communicated to the change originator
    • Monitor the development and testing process and ensure it is in line with the agreed plan
    • Ensure the entities changes are integrated into the Regional model
    • Ensure proper documentation of changes to the model
    • Work closely with the existing centralized Prophet modelling team on model development and new functionalities
    • Manage the deliverables and resources of the modelling team
    • Work closely with local entities and propose actuarial development or process improvement when appropriate
    • Provide high quality, timely consistent, standardized services to internal stakeholders and entities
    • Suggest team structure for existing and development teams
    • Promote a positive, high performance working environment
    • Coordination of works between regional IT team and software vendor on software related issues
    • Recommend priorities, schedules and resources needed to conduct analyses in order to meet end users’ delivery requirements
    • Estimate efforts on projects and analyses, skill levels required, and recommend turnaround times considering end users’ delivery requirements
    • Recommend priorities for consideration when necessary.
    • Review, understand, monitor and project demands from local entities for actuarial resourcing
    • Agree priorities with local entities
    • Manage the revenue and expenses of the team’s operation and achieve a break-even objective

Essential Skills:

  • 10+ years of financial services industry experience, including 2+ years managerial experience and proven ability to lead a large team
  • Preferably an Associate or Fellow of a recognized actuarial institute (SOA, IFOA, etc.).
  • In-depth experience of actuarial modelling (deterministic, stochastic, Prophet knowledge is a plus)
  • Strong knowledge and experience of valuation, financial reporting, product development and pricing
  • Hands-on experience in operating a corporate actuarial function and in leading a team of actuaries
  • Good understanding of IFRS, Market Consistent Embedded Value measures, Solvency II
  • Good project management skills and experience in running sizable projects / assignments
  • Asian regional experience desirable
  • Ability to influence and collaboratively lead change
  • Excellent verbal and written English communication skills required

To apply for this job email your details to career@dlsconsultancy.com