Position Title: Head of Actuarial Services
Division: Life & Health
Position Objective:
To manage the various actuarial activities of the Life & Health division and support the Head of Life & Health Department in the acquisition of new business and the maintenance of profitable portfolio.
Position reports to: Head of Life and Health
Your Job:
• Contribution to the growth of premium and profit through acquisition of new business and maintenance of existing profitable portfolios.
• Lead and manage own team to achieve business imperatives and meet clients expectations.
• Provision of quotations in accordance with business authorisation rules and authorities.
• Timely update pricing guidelines (“Pricing Basis”) in coordination with Life and Health regional and Set assumptions for pricing
• Claims and Lapse experience studies
• Review reserve and related assumptions and Support for the financial reporting as requested from Life and Health regional
• Adhere to all regulatory, government and actuarial profession requirements.
• Client Liaison.
Create and maintain close contacts with key persons at actuarial development of all life as well as non-life insurance companies
Proactively identify clients’ needs in actuarial areas and take appropriate actions to respond to such demands
• Ensure completion of special ad-hoc projects nominated by Head of Life and Health.
• Ensure clear documentation of completed research and decisions made and Establish rules for actuarial documentations
Your Profile:
• 10+ years of working experience in the actuarial department at a direct Life insurer or related institution (essential);
• Fellow of a recognized international actuarial body (FSA etc.) (essential)
• Qualification as a Fellow of the Institute of Actuaries of Korea (preferred)
• Fluent spoken and written in Korean and English (essential)
• Experience in pricing and product development would be an advantage
• Extensive knowledge in Korean insurance market and product lines;
• Knowledge of the various Life and Health Acts and Actuarial standards;
• Excellent communication and Problem-solving skills
