About the Job
The role is responsible for the production, analysis and communication of Embedded Value (EV) and New Business Embedded Value (NBEV), New Business Contractual Service Margin (NBCSM) and related actuarial metrics for Great Eastern Life Singapore (GELS), Great Eastern Life Malaysia (GELM) and Great Eastern Takaful Berhad (GETB). This role ensures timely, accurate and insightful reporting to the local business units, support strategic decision making, and drives continuous improvement in actuarial methodologies and analysis.
- Perform the calculation, analysis of EV, NBEV and NBCSM, in line with internal and external policies.
- Ensure accurate and timeline delivery of EV, NBEV and NBCSM results to local business units.
- Analyse movements in EV, NBEV and NBCSM, identifying key drivers, risks and opportunities.
- Perform UAT for modelling enhancements and assumptions updates.
- Perform sensitivity analysis to assess the impact of the assumption changes.
- Support local business units by translating complex actuarial results into clear business insights.
- Conduct experience analyses to support the review of pricing and valuation assumptions for all coverage to ensure they reflect the latest experience and future expectations.
- Preparation of stress test related work such as Group Industry Wide Stress Test (IWST), Great Eastern Holdings Group Stress Test (GEH GST), FCR Stress Test, stress tests required by BNM such as Climate Risk Stress Test and ITCL review to support analysis of the Company's solvency position.
- Prepare relevant documentation and proper audit trail.
- Support internal & external audits.
- Drive continuous improvement in controls, efficiency and automation of actuarial processes.
- Manage, mentor and develop junior team members.
- Coordinate with Group and local business units to ensure alignment of the methodologies and reporting standards.
- Perform NBEV - NBCSM bridging.
- Other responsibilities entailed including experience study and stress testing.
We are looking for people who
- Tertiary - Bach. in Statistics / Maths / Actuarial Studies Professional
- At least 3-5 years of experience in Actuarial Industry.
- Experience with valuation team and knowledge with IFRS 17 is a plus.
- Good progress in Actuarial exams.
- Pays attention to details and can complete tasks efficiently.
- Can work both independently and as part of a team.
- Has a high level of integrity, takes accountability of work and has good attitude.
- Takes initiative to challenge/improve the current state and is agile in adapting to changes.
How you succeed
- Champion and embody our Core Values in everyday tasks and interactions.
- Demonstrate high level of integrity and accountability.
- Take initiative to drive improvements and embrace change.
- Take accountability of business and regulatory compliance risks, implementing measures to mitigate them effectively.
- Keep abreast with industry trends, regulatory compliance, and emerging threats and technologies to understand and highlight potential concerns/ risks to safeguard our company proactively.
Who we are
Founded in 1908, Great Eastern is a well-established market leader and trusted brand in Singapore and Malaysia. With over S$100 billion in assets and more than 16 million policyholders, including 12.5 million from government schemes, it provides insurance solutions to customers through three successful distribution channels – a tied agency force, bancassurance, and financial advisory firm Great Eastern Financial Advisers. The Group also operates in Indonesia and Brunei.
The Great Eastern Life Assurance Company Limited and Great Eastern General Insurance Limited have been assigned the financial strength and counterparty credit ratings of AA- by S&P Global Ratings since 2010, one of the highest among Asian life insurance companies. Great Eastern's asset management subsidiary, Lion Global Investors Limited, is one of the leading asset management companies in Southeast Asia.
Great Eastern is a subsidiary of OCBC, the longest established Singapore bank, formed in 1932. It is the second largest financial services group in Southeast Asia by assets and one of the world's most highly-rated banks, with an Aa1 rating from Moody's and AA- by both Fitch and S&P. Recognised for its financial strength and stability, OCBC is consistently ranked among the World's Top 50 Safest Banks by Global Finance and has been named Best Managed Bank in Singapore by The Asian Banker.
To all recruitment agencies: Great Eastern does not accept unsolicited agency resumes. Please do not forward resumes to our email or our employees. We will not be responsible for any fees related to unsolicited resumes.
