AVP, Actuarial IFRS17 Valuation

About The Job

• Lead and review the preparation of IFRS 17 valuation reporting. This includes execution of IFRS 17 model runs and production of IFRS 17 reserves.
• Explain valuation result to stakeholders together with timely completion of valuation analysis.
• Ensure consistency in implementation of IFRS 17 reporting requirements with Group Office and local statutory guidelines.
• Involved end-to-end User Acceptance Testing by performing / review the testing results as part of Day-2 enhancement and provide feedback to relevant stakeholders. Ensure implementation of business requirements and solutions are appropriately implemented and tested in the Actuarial functions
• Provide oversight of model development. Ensure that the process and procedures manual are well documented with adequate valuation controls in place.
• Drive the development and implementation of automation processes to improve efficiency in operations and reduce manual tasks.
• Take accountability in considering business and regulatory compliance risks and takes appropriate steps to mitigate the risks
• Maintain awareness of industry trends on regulatory compliance, emerging threats and technologies in order to understand the risk and better safeguard the company
• Highlight any potential concerns /risks and proactively shares best risk management practices

We are looking for people who

• Degree in Actuarial Science or equivalent with good progress in actuarial qualifications
• 5+ years of experience in Life Insurance. Priority is given to those with experience in Family Takaful
• Strong actuarial knowledge and analytic skills. Priority is given to those with strong knowledge in actuarial valuation reporting for Risk Based Capital (RBC), Embedded Value (EV) and understanding of IFRS 17 reporting requirements
• Strong communication skills. Well versed in English and Malay (both written and verbal)
• Well versed in Microsoft Office application. (Excel, Word, and Power Point)
• Modelling experience in Prophet, ALS and knowledge in Python programming language and Takaful will be an advantage
• Has a strong desire to continuously acquire knowledge and deliver high quality results
• Displays high level of trust and sense of responsibility
• A good team player and able to lead junior team members
• High level of integrity, takes accountability of work and good attitude over teamwork
• Takes initiative to improve current state of things and adaptable to embrace new 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.

About Great Eastern

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.