Actuary/Actuarial Analyst (Corporate)

About the Role

The key activities of the Actuarial Management team that you will be primarily responsible include:

• Engage with other relevant teams and with external clients and regulators to ensure effective management of Life & Health (L&H) in-force portfolios:
• Supporting the business growth including advisory during onboarding state of the new reinsurance treaties, based on our financial valuation insights
• Actively keep track of Korea FSC latest requirements, especially actuarial requirements
• Act as the main liaison point on Korea L&H business for other functions in Swiss Re, with special focus on actuarial feedback loop from valuation to pricing
• Assist other teams such as Portfolio Management, Client Management, Pricing and Financial Controlling
• Quarterly reserving and reporting processes of Korea business:
• Ensuring the reporting process for L&H business is adequately reflective of the changing business needs
• Ensuring in-force data quality and proper determination of policy liabilities for USGAAP, Swiss Statutory, economic reporting and IFRS17
• Monitor, project and communicate performance of Korea and assigned L&H business portfolios
• Modelling Support for Korea business:
• To assist in setting up and refining data, model points and assumptions for onboarding of business to actuarial models
• Ensuring that the business is onboarded appropriately from models to Swiss Re L&H reporting systems including validating impacts on USGAAP, economic reporting and various Statutory bases.

About the Team

L&H Valuation forms part of the L&H Chief Risk Officer unit. The teams are accountable for independent valuation of Swiss Re's L&H business globally, with US GAAP reserves of more than USD20bn. This includes business written across the world and covers all the lines of business that fall into L&H – mortality, CI, DI, longevity, as well as additional 'complex' products such as those with financial risk. As well as production of the numbers, the team is responsible for ensuring timely and accurate information is fed back to the market units to ensure proactive decisions are taken to steer the L&H business in the best possible way.

About You

• Strong knowledge and working experience in L&H business, plus the ability to communicate business needs with internal clients and external regulators is key to success in this role;
• Around 6 years of L&H valuation or pricing experience in reinsurance, primary insurance or insurance consultancy; Qualified or working towards to Fellow of Institute of Actuaries Korea (FIAK);
• Excellent interpersonal, communication, organisational and people management skills;
• Ability to balance rigorous technical requirements and business mind-set to be solutions oriented; Strong technical knowledge and the ability to analysis large amounts of data;
• A good understanding of USGAAP, MCEV, IFRS17 and Korea local reserving standards would be considered an advantage; Good knowledge and proficiency of actuarial modelling systems; Proficient in MS Excel. Knowledge of MS Access and/or SQL would be considered an advantage;
• Position will be located in Korea;
• Fluent spoken and written Korean/ English.
• Candidates with less experience will be considered as (Senior) Actuarial Analyst

About Swiss Re

Swiss Re is one of the world’s leading providers of reinsurance, insurance and other forms of insurance-based risk transfer, working to make the world more resilient. We anticipate and manage a wide variety of risks, from natural catastrophes and climate change to cybercrime. We cover both Property & Casualty and Life & Health. Combining experience with creative thinking and cutting-edge expertise, we create new opportunities and solutions for our clients. This is possible thanks to the collaboration of more than 14,000 employees across the world.

Our success depends on our ability to build an inclusive culture encouraging fresh perspectives and innovative thinking. We embrace a workplace where everyone has equal opportunities to thrive and develop professionally regardless of their age, gender, race, ethnicity, gender identity and/or expression, sexual orientation, physical or mental ability, skillset, thought or other characteristics. In our inclusive and flexible environment everyone can bring their authentic selves to work and their passion for sustainability.