Junior Actuarial Analyst
Job Description
Supports the Life actuarial function in delivering accurate valuations, IFRS 17 and solvency reporting, actuarial analysis and financial modelling, while providing technical insight to support management decisions, regulatory requirements and effective management of the Life business.
KEY TASKS AND RESPONSIBILITIES
Technical Actuarial Support: Assist with conducting and reviewing internal actuarial liability valuations for relevant insurance subsidiaries, IFRS 17 valuations, analysis of profitability/surplus, and calculation and analysis of embedded value using Prophet and MS Excel for OM Life entities
Experience Investigations: Assist with profitability analysis, experience analysis and other relevant actuarial investigations to inform business decisions
Solvency and Capital Management: Assist with solvency computations for the entity on a risk-based capital basis, including solvency stress tests
Financial Modelling: Assist with financial modelling of business scenarios/projects to inform business decision-making
System Support: Assist with management of the Life Systems - Prophet, Thought Express, OIPA, etc
Business Planning Support: Assist with business planning financial projections and solvency projections for the life entities. Perform stress and scenario analysis on the plan numbers
Reinsurance Support: Support with carrying out reinsurance analyses and reinsurance optimisation
Reporting and Documentation: Present results and reports to businesses and subsidiary board committees. Prepare Board papers and regulatory solvency and valuation reports
Risk Management Support: Assist the Business Units and Risk Department in identifying and quantifying risk, including insurance, market and credit risks, where appropriate
Investment Strategy Support: Develop/formulate appropriate investment strategies and/or review and monitor investment strategies including Unit Pricing support and BSA management
Other Reasonable Duties: Perform other reasonable duties that may be assigned by supervisors/management
SKILLS AND COMPETENCIES
Analytical skills
Data handling knowledge
Business awareness
Problem-solving skills
Communication and presentation skills
Ability to prioritise and work on a wide range of deliverables at once
Ability to work under minimal supervision
Good interpersonal skills
Proficiency in Microsoft Office packages
KNOWLEDGE & EXPERIENCE
Strong actuarial technical skills
Knowledge of Prophet software or other reserving software
Strong analytical skills
Strong data programming skills
Foundational knowledge of the current insurance regulations, capital markets and other relevant guidelines
QUALIFICATIONS
Bachelor of Actuarial Science
Minimum 2-5 years of relevant technical experience
Actuarial knowledge, demonstrated through progress with actuarial examinations