Head of Actuarial Valuation, Capital Management, and Business Analysis

2 weeks ago

Makati City, National Capital Region, Philippines HRTX Full time
Head of Actuarial Valuation, Capital Management, and Business Analysis

Job Openings Head of Actuarial Valuation, Capital Management, and Business Analysis

About the job Head of Actuarial Valuation, Capital Management, and Business Analysis

Position: Head of Actuarial Valuation, Capital Management, and Business Analysis
Location: Makati
Work Setup: Onsite
Schedule: Monday to Friday

Job Purpose:

The primary objective of this role is to safeguard the financial stability and enhance the performance of the company by leading and implementing actuarial standards. This includes measuring insurance provisions for financial statements, analyzing business profitability, preparing analytical summaries for management information and financial reporting, optimizing reinsurance and capital management, and recommending strategies to achieve business targets. Additionally, this role involves owning and maintaining local actuarial valuation models.

Number of Direct Reports: 5 Full-Time Equivalent Employees (officers, analysts)

Responsibilities:

Measurement of Insurance Provisions:

  • Oversee the preparation of data input, valuation results, and summary insurance provisions for financial statements, ensuring accuracy, completeness, and consistency.
  • Manage the production and handling of accountabilities and recoverable on reinsurance ceded on the companys business.

Analyses of Profitability:

  • Lead the preparation of profitability analyses for new and existing business, applying relevant frameworks such as AIFRS and EEV.
  • Collaborate with Regional Actuarial Solutions (RAS) to manage relevant work streams.
  • Manage reinsurers by evaluating new structures and challenging provided rates to optimize solvency ratio.
  • Develop and implement reinsurance and ceded insurance policies.

Capital Management & Optimization:

  • Establish a balanced capital structure between GI and life entities to facilitate capital circulation with minimal risk.
  • Optimize capital utilization by identifying key drivers of the Risk-Based Capital (RBC) and implementing strategies to manage business with less capital.

Financial Business Analysis:

  • Analyze competitors' performance and gather relevant data to update existing strategies or propose new plans to improve company performance and achieve set targets.

Educational Qualifications:

  • Bachelor's degree in Mathematics, Actuarial Science, or Statistics; Masters degree preferred.
  • Near-fellow or associate of a recognized actuarial institute required.
  • Minimum of 10 years of actuarial work with at least 3 years of supervisory or managerial experience.
  • Extensive knowledge of the life insurance business.

Personal Characteristics/Behaviors:

  • Demonstrated leadership, strategic thinking, and critical analysis skills.
  • Effective problem-solving abilities and ability to collaborate with diverse stakeholders.
  • Strong communication skills and ability to work effectively in a team environment.
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