Associate, Actuarial (Reinsurance Management & System Support)

About the Job

As part of the team, you will be required to set-up products in the product factory; coordinate and collaborate with Business subject matter experts (SMEs) in defining user requirements and objectives; and work with the various stakeholders in delivering the product on time.

You will also be responsible for Reinsurance Management and work closely with SMEs and reinsurers for accurate and timely internal and external reporting, treaty management and reinsurance optimisation.

You will be supporting our entities in Malaysia, Labuan and Singapore for both Conventional and Takaful business.

• Work with business SMEs (Product Pricing team, Product Management team, Operations team, IT team) in defining business requirements, scope and objectives.
• Perform product setup activities which include parameters table, rates table setup and formula configuration in life systems.
• Prepare product requirements on life system functionalities from Actuarial perspective.
• Manage, maintain and update product setup for new product launches, new funds, regulatory changes, changes to existing products or any other changes which require Actuarial technical support.
• Enhance life systems functionality from time to time related to product setup.
• Coordinate User Acceptance Testing for new products and enhancement with Pricing department within the stipulated timeline.
• Provide Actuarial support for product administration and maintenance issues, ad hoc queries, project initiatives and others.
• Conduct yearly bonus run verification for Participating products.
• Work with business SMEs (Legal, Claims, Underwriters, Product Pricing team) and reinsurers to ensure timely sign-off of reinsurance treaties and addenda as well as compliance with internal policies, regulatory requirements.
• Manage reinsurance data to deliver accurate information for internal and external reporting.
• Support ad hoc reinsurance tasks upon request.

We are looking for people with

• Degree holder in Statistics / Mathematics / Actuarial Science.
• Passed 25% of preliminary actuarial exams in one of the actuarial associations recognised by BNM.
• At least 1 year of working experience in life insurance industry or fresh graduate.
• Detail-oriented, efficient, self-motivated and able to work under pressure.
• Good interpersonal, writing and verbal communication skills.
• Good technical and analytical skills.
• Proficiency in Microsoft Office applications.
• Proficiency in PL SQL programming.

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 Bank

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.