Actuarial Analyst

About Swiss Re

About the Role

1. Portfolio Management: actively participate and support the Korea Portfolio Management managers' responsibility in engaging with other internal partner functions (and with external clients) to perform effective management of L&H's in-force portfolios.

2. Assist on inforce portfolio initiatives to actively manage inforce risk and increase value of the inforce. This includes for example:

1. Performing portfolio deep dives to review treaty profitability and propose actions to improve treaty performance

2. Complete quantitative experience analysis and valuation for recapture or non-contractual change on the inforce.

3. Driving key inforce initiatives within Swiss Re such as US GAAP initiatives, Portfolio Optimization, Customer Retention Management, IFRS 17 and other inforce solutions.

4. Reprice reviewable rate treaties or provide technical peer review support

3. Perform experience monitoring:

1. Work on production of regular and ad hoc monitoring analysis, including claims, retention/lapse, and other.

2. Highlight key observations and recommendations to assist on business steering and in-force management.

3. Monitor treaty's rate review trigger or internal KPI to ensure timely action is taken when necessary.

4. Identify early warning signals and managing portfolio risks such that proactive action can be taken to protect the value of the in-force and ensure its sustainability; Spot issue early and fix them.

4. Support Group wide and local projects as required, including other priorities of the L&H Business Management team.

About the Team

The Portfolio Management team forms part of the Business Management division in Swiss Re together with other units including Technical Accounting, Actuarial Management and Claims. The team has interdependent relationships with other units within the L&H Business Management division and is required to foster a strong team culture in order to drive delivery of the overall divisional mandate.  

The mandate of the Portfolio Management team is to monitor, protect and maximize the shareholder value extracted from the in-force L&H portfolio across its six markets in Asia: China, Japan, South Korea, South East Asia, Hong Kong & Taiwan and India.

As part of a team of fifteen, this role reports to the Head L&H Portfolio Management Asia and working closely with other senior team members. Whist this role will focus on Korea market, it also includes participation in regional initiatives and offer great exposure to leaders at the executive level, including frequent access to the Managing Director and Regional Head of the Business Management in Asia Pacific. In addition, the team works closely with other departments in Division Asia's L&H Community, including Pricing, Finance, Transactions and Client markets.

About You

•    Good exam progress with a recognised Actuarial professional body.
•    Minimum 4+ years of L&H valuation or pricing experience in reinsurance or primary insurance
•    Good technical knowledge in areas of liability portfolio management (e.g. experience analysis, product pricing and valuation, financial performance analysis).
•    Working knowledge of US GAAP financial reporting and embedded valuation methods (e.g. MCEV, EEV, TEV), knowledge of IFRS 17 is a plus
•    Strong analytical skills, good understanding of financial reporting process, actuarial models and data management
•    Experience in regular experience monitoring and highlight/ investigate variance in experience and its root causes.
•    Fundamental understanding of the Asian insurance and reinsurance industry, and knowledge of the main products and services offered by Swiss Re and its competitors would be a plus.
•    Excellent interpersonal, communication and organisational skills
•    Ability to liaise with various stakeholders on different in-force management initiatives.
•    Ability to navigate ambiguity and work autonomously

•    Candidates with more experience will be considered as Senior Actuarial Analyst