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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.
About the Role
This is a key senior role primarily responsible for actuarial valuation, reporting and analysis for Swiss Re's China L&H business:
- Lead Beijing and Bangalore actuarial reporting teams to provide high quality production of quarterly PRC GAAP and CROSS results for L&H business, Support China's Appointed Actuary and CFO for regulatory submissions
- Review results of experience studies on risks covered for reserving purposes. Review and assess updates in Costing's Term of Trade. Conduct analyses and propose valuation assumption or methodology changes deemed appropriate for the in-force portfolios. Present proposal to and seek approval from the BRC.
- Responsible for quality of valuation data, maintenance & enhancement of valuation model (including migration of modelling platform to Axis), tools and process
- Be a trusted advisor to the business through insightful analysis, proactive understanding of market developments, and engagement with other L&H functions to ensure effective management of L&H inforce portfolios in China
- Build expertise and lead the reporting for bespoken/complex transactions
- Lead or provide support, as appropriate, into capital management, risk management and regulatory engagement activities
- Represent China and Asia in regional and global projects as appropriate
(Management retains the discretion to add or change the duties of the position)
About the Team
Reporting to Head Actuarial Management L&H China, you will be primarily responsible for the activities of Valuation & Analysis in China. The Actuarial Management team is part of Group Risk Management in Swiss Re, responsible for managing the in-force business and supporting Swiss Re's L&H business by providing financial information and advice on past/expected future profitability and experience.
This team works closely with other departments in China's L&H Community, including those in business origination functions (Client Markets and Products), and those in in-force portfolio management functions (Claims, Technical Accounting etc.). The successful candidate will need to proactively liaise with cross functional teams and is required to foster a strong team culture to drive delivery of the overall in-force management mandate.
You will apply your strong technical knowledge, business experience and leadership qualities to be an effective leader. You will have the following attributes:
- Minimum 15 years of L&H (re)insurance experience in either valuation or pricing functions, with at least 7 years post qualification experience.
- FCAA or an internationally recognized qualification such as FIA, FIAA, FFA or FSA.
- Deep knowledge of China insurance accounting, reserving and solvency regimes. Direct experience with IFRS or economic reporting would be considered an advantage
- Effective working experience with senior management of varied backgrounds.
- Excellent interpersonal, communication, influencing and people management skills; Ability and courage to constructively challenge strategic business propositions, but also have business mind-set to be solutions oriented.
- Fluent spoken and written English.
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