Actuarial Pricing Manager

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

1. New Product Pricing (20%)

2. New Product Implementation Support (20%)

3. Existing Product Maintenance (20%)

4. Manage the group product quotation operation (30%)

5. Other Actuarial Related Support (10%)

Pricing support for new products:

• Develop and propose product pricing template based on market and sales proposition.
• Develop product approval document, user requirements and other related documents before new product go live.
• Collaborate with various functional departments to ensure the new product is fully understood from sale point until policy issue.

Provide actuarial support for new product launch.

• UAT testing on iPos to make sure the premium calculation, surrender value, all related wording or sentences in the sales quotation are fully align with the product pricing model.
• UAT testing on IL to make sure the policy submission, premium charge, cost of insurance deduction, surrender value, account value are all align with the product pricing model.
• Review and provide feedbacks for training materials, product submission documents to regulator and marketing materials to ensure they are align with the product pricing model.
• Monthly tracking of the new product after launch.

Support product enhancement related projects.

• Support the system testing and UAT for day 2 items.
• Engage with client service team and sales team to handle the questions and queries from clients regarding to product features.
• Support day 2 feature of new product to support the requests for change payment mode, change sum insured and premium after policy issue.

Be the owner of the corporate solution quotation operation

• Oversee the quotation process including both distributing quote to team member and communicate with the sales team,
• Handling special custom quote request
• Enhance quotation process

Other actuarial related support.

• Supporting the revision of the current compensation schemes for Agency and Banca.
• Calculate persistency for each sale channel for monthly reporting and compensation schemes calculation.
• Handling other related customer service queries.
• Supporting special quotation requests by sales team.

Financial and Nonfinancial Measures

• Nearly Qualified Actuary (SOA /IFoA etc). Being fully qualified would be an advantage.
• Effective in communication with other management departments.
• Attending relevant trainings when required.

Communication Requirements Internal  External

• (70%) This job requires internal communication more than external as this is related to products and pricing which he/she needs to work across departments and supporting team for new product launch. Also, working together to deliver existing product enhancements initiatives.
• (30%) Support external communication with MEF queries for new products filing and Agency team queries.

Minimum Job Requirements:

• Education – Bachelor’s in Actuarial Mathematics/ Mathematics/Statistics or related fields. (Minimum 3.0 GPA)  
• Experience – minimum 7 years of working actuarial experience.
• Special skills: (1) Ability to think analytically, strong business knowledge, self-initiative and demonstrate commitment to high quality deliverables, strong team player and serious to pursue actuarial career. (2) Demonstrate practical coding skills and a willingness to further develop the technical capabilities required to maintain, support, and enhance the current technology stack, including VBA, Python, SQL, Prophet, HTML, and JavaScript.

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

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