Senior Actuarial Manager

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 Senior Actuarial Manager for Pricing performs pricing and prototyping of products assigned to him/her, and helps see them through to approvals, implementation and readiness to launch by collaborating with the cross-functional product development team. He/she will also be responsible for senior pricing support to the Pricing actuary in driving speedy and thoughtful analyses in support of our product strategy. The lead will also be the primary point person for managing and reviewing distribution initiatives to support the company’s various channels. The Senior Actuarial Manager also liaises with Group Office counterparts and external consultants / auditors. On top of these, he/she may be assigned to mentor and peer review the work of junior members of the team.

1. Justify and recommend appropriate pricing assumptions based on experience reviews, market comparison, industry benchmarks, demographic studies, and other available research information

2. Build / modify robust and automated pricing models in excel/Prophet consistent with pricing standards and continuously improve processes as needed (i.e. worksheet efficiencies, streamlining manual processes, etc.)

3. Working knowledge on relevant local regulations on product filing, pricing, products, forms, illustrations and distribution channels

4. Actively participate and provide UAT support for cross-functional product initiatives

5. Lead and provide actuarial support to distribution requests such as compensation review, incentives assessment, and partnership quotations

6. Prepare relevant actuarial sections of the Product Approval Report, including the necessary documentation of assumptions, profit testing and sensitivity analysis, and be able to address questions from Group Office on product gates

7. Lead other special projects and perform adhoc tasks that may be assigned from time-to-time

Knowledge and Skills: 

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

Associate of the Actuarial Society of the Philippines (AASP) or Associate of the Society of Actuaries (ASA)

At least seven years actuarial experience, preferably in pricing and strategy

Experience in managing and liaising with regulator

Prophet experience is highly preferred

Demonstrated process improvement advocate

Has knowledge of IFRS17 standards

Has worked in a multinational insurance company

Privacy Notice

Your privacy is a priority for FWD.  The Company keeps your personal information with us in confidence. To know more about how we process your information, kindly refer to our FWD Recruitment Privacy Notice.

FWD has partnered with Talocity Instasolutions Private Limited (“Talocity”) to manage the initial filtering of candidate’s profiles through video interviews, social profile mapping, and video analytics using artificial intelligence engine that is offered within the Talocity platform.  The platform evaluates the candidate on the five well-known dimensions as per OCEAN Personality Model that influence occupational success and help understand workplace behavior. For more information, please refer to Talocity Privacy Policy.

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.