Actuarial Associate Manager for IFRS 17

About FWD Group

FWD Group is a pan-Asian life and health insurance business with more than 12 million customers across 10 markets, including some of the fastest-growing insurance markets in the world. The company was established in 2013 and is focused on changing the way people feel about insurance. FWD’s customer-led and digitally enabled approach aims to deliver innovative propositions, easy-to-understand products and a simpler insurance experience.

For more information, please visit www.fwd.com

About FWD Life Philippines 

FWD Life Insurance Corporation (FWD Life Philippines) launched its commercial operations in September 2014. As of end-2022, FWD Life Philippines ranks 3rd and 6th in terms of Paid-up Capital(1) and New Business Annual Premium Equivalent(2), respectively.

For more information, please visit fwd.com.ph. 

1 www.insurance.gov.ph > Statistics > Life > 2022 > Based on Paid-Up Capital

2 www.insurance.gov.ph > Statistics > Life > 2022 > Based on New Business Annual Premium Equivalent

The Actuarial Associate Manager for IFRS17 works together with the IFRS17 Reporting Lead, in the coordination of the Head of Valuation, Chief Actuary, General Accounting, Investments, and other concerned teams, and FWD Group counterparts with the goal of setting up the end-to-end valuation of reserves of life business for FWD PH’s portfolio under the new IFRS17 valuation standards including the relevant analysis on reserve movements and financial reports. The role is also expected to help in the design of and execute the proposed controls and documentation on the end-to-end IFRS17 valuation and reporting process. The role requires completing the team tasks/deliverables as part of regular reporting thru ad hoc assignments.

Key Responsibilities:

1. Independently perform the IFRS 17 BAU reporting tasks which include but not limited to data preparation, setting-up and executing of Prophet runs, extracting Prophet results, filling-in of actuarial/reporting system forms, performing checks and results analysis and investigating/providing responses to Group Office/management queries

2. Prepare business requirement specification (BRS) and perform user’s acceptance testing (UAT) and impact quantification for the quarterly IFRS 17 Prophet model enhancement exercise

3. Provide support in the Business Plan exercise for IFRS 17 and model governance initiatives

4. Perform IFRS 17-related experience studies, including data validation, analysis of results, assumption recommendation, report preparation and impact quantification

5. Other special projects that may be assigned from time to time by the IFRS 17 Reporting Lead, Head of Valuation or Chief Actuary (e.g. process improvements, improvements on valuation controls and documentation, etc.)

Knowledge and Skills:

Graduate of Mathematics, Statistics, Actuarial Science, or similar courses

Near Associate/Associate of the Actuarial Society of the Philippines or Scoiety of Actuaries

At least 7 years actuarial experience, preferably in a multinational life insurance company, with exposure to IFRS 17

Has relevant experience in using FIS Prophet and Data Conversion System (DCS)

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When you apply, FWD will share your name, phone number and email address to Talocity to contact you and conduct the initial screening and profiling process.  Shortlisted candidates will then be contacted by FWD for the face-to-face interview.