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Swiss Re is hiring a

Portfolio Management Actuary

About the Team

The Portfolio Management (PM) team forms part of L&H Portfolio Steering & Monitoring (PSM) within the Chief Underwriting Office (CUO). The PSM purpose is to generate insights and connect our business to proactively steer L&H in delivering sustainable profit. Portfolio Management APAC covers seven markets - Australia & New Zealand, China, Hong Kong & Taiwan, Japan, Korea, South East Asia and India.

About the Role

This role sits within the Portfolio Management team responsible for Japan, Korea, SEA & India (JKSI). Working closely with the other team members, this role will be responsible for supporting the JKSI portfolio, with focus on SEA and Japan. There will be opportunities to participate in regional initiatives and the role also offers great exposure to leaders at the executive level, including frequent access to Asia and Global Managing Directors. In addition, the team works closely with Local Market Units and other supporting functions across the L&H community.

Key Responsibilities

Portfolio Management:

  • Actively participate and support the team's responsibilities to provide high quality deliverables, engage and closely collaborate with Market Units, other internal partners and external clients to perform effective management of JKSI's inforce portfolios.

Smart Circles:

  • Actively support the establishment and facilitation of Smart Circles, by providing portfolio insights and proactively steer management actions in delivering sustainable profit.
  • Identify and monitor key portfolio risks, rate review triggers and financial KPIs to ensure timely action is taken when necessary
  • Identifying early warning signals and managing portfolio risks such that proactive action can be taken to protect the value of the inforce and ensure its sustainability
  • Facilitate the feedback loop process, ensure alignment and effective information flow between relevant cross-functional teams

Driving initiatives on the inforce portfolio to maximize value and manage risk:

  • Performing portfolio deep dives to review treaty profitability and propose actions to improve treaty performance
  • Reprice reviewable rate treaties and/or provide technical peer reviews
  • Complete quantitative experience analysis and valuation for recaptures or non-contractual change on the inforce
  • Driving initiatives on the inforce to deliver on key financial KPIs and inforce solutions

Experience Monitoring:

  • Manage the production of regular and ad hoc monitoring analysis, including claims, retention/lapse, and other.
  • Act as a key input provider for business steering and in-force management via monitoring experience and communicating lessons learned and reserving implications to key stakeholders
  • Monitor treaty's rate review trigger or internal KPI to ensure timely action is taken when necessary.
  • Identifying 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.
  • Facilitating the feedback loop process, such that there is good information flow and action between the relevant cross-functional teams, for example, by chairing and present findings in market Portfolio Review Groups.

Inforce Referrals and Transactions:

  • Support the team leader in providing referral review and approval on client treaty recapture and re-pricing activities requiring PSM/CUO sign-off based on defined referral governance authority
  • Support for transactions both pre-deal as key business bound representatives, and post deal onboarding implementation
  • Ensure new business is onboarded considering its risk profiles and materiality. This includes developing operating manuals for large complex deals that define clear roles and responsibilities in the ongoing management and reporting of new business.
  • Support Group wide and regional projects as required, including other priorities of the L&H PSM team

About You

  • Nearly qualified or qualified actuary with a recognised Actuarial professional body
  • Minimum 5 years of L&H valuation or pricing experience in reinsurance, primary insurance or actuarial consulting
  • 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/IFRS 17 financial reporting and embedded valuation methods (e.g. MCEV, EEV, TEV)
  • Strong analytical skills, good understanding of financial reporting systems, 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 in ambiguity and to work autonomously

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.

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