Assistant Vice President, Group Actuarial

7 days ago


Hong Kong Island, China FWD Insurance Full time CN¥900,000 - CN¥1,200,000 per year

About FWD Group

FWD Group (1828.HK) is a pan-Asian life and health insurance business that serves approximately 34 million customers across 10 markets, including BRI Life in Indonesia. FWD's customer-led and tech-enabled approach aims to deliver innovative propositions, easy-to-understand products and a simpler insurance experience. Established in 2013, the company operates in some of the fastest-growing insurance markets in the world with a vision of changing the way people feel about insurance. FWD Group is listed on the main board of the Hong Kong Stock Exchange under the stock code 1828.

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PURPOSE
  • Implementation/Supervision of FWD actuarial practices and provide values added support to local business units
  • Act as the leader among Group Actuarial on review and approval of wealth, saving and investment products to ensure FWD Group's pricing requirements are met.
  • Advise BUs on the actuarial technical know-how, SAA formulation and influence BUs' decision on pricing, product design, investment strategy and reinsurance strategy of wealth, saving and investment products.
  • Lead the negotiation and provide Group review on any asset intensive reinsurance flow deal
  • Drive the pricing metrics and pricing methodology review
  • Lead one country manager
KEY ACCOUNTAIBILITIES
  • Owner of Group Product Pricing Policy and Group Product Development and Pricing Guideline.
  • Oversee and advise countries on day-to-day business process in areas of wealth, saving and investment products.
  • Lead improvements to the overall process and bring new thinking to the function and team focusing on strategic initiatives
  • Work closely with Group Product and be advisor from actuarial point of view on new wealth, saving and investment products and make respective decision across all markets
  • Develop and draft pricing benchmark, pricing methodology and directions of FWD based on market trends and local regulations
  • Participate in countries' committee and to provide group guidance
  • Provide group guidance to countries' actuarial teams to perform analysis to facilitate management decisions
  • Develop rapport with business unit management through leading regular communication of changes in business operations, emerging risks and potential issues, etc.
  • Manage the development of the actuarial related policies and guidance
  • Lead countries to determine reinsurance strategies & investment strategies on wealth, saving and investment products
  • Review and improve the actuarial models adopted for pricing, valuation, reporting, reinsurance and compensation functions.
  • Support and prepare relevant materials for the Group Board, ALMCO, Investment, Risk & Actuarial Committees, local Board and local key committees
  • Support the development of business cases for new initiatives, e.g. M&A, new markets, channels development, partner acquisition, etc
  • Manage and liaise communication with senior management independently.
  • Provide training and guidance to countries
  • Participate on special projects as assigned
     
QUALIFICATIONS / EXPERIENCE
  • 10+ years insurance experience in pricing, actuarial and/or risk management functions
  • Fellowship member of an internationally recognised actuarial professional body
  • TEAM management experiences
KNOWLEDGE & TECHNICAL SKILLS
  • Understanding of the interactions for insurance liabilities, capital, investment, product, EV, financial reporting, and risks
  • Working knowledge of applicable laws, regulations, rules, codes of conduct
  • Communication skills
  • Modelling skills


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