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2019.11.27.

Product Actuary

Job Description

POSITION OBJECTIVE

Ensures sustainable portfolio growth and profitability through high quality management of product development and pricing.

MAIN RESPONSIBILITIES

Product pricing

  • Participates in the product development process with focus on technical aspects.
  • Performs product pricing including set up of underlying assumptions for existing products as well as those new to the market
  • Performs profit-testing and various sensitivity analyses (both regular and ad-hock)
  • Follows up SII calculations and other relevant frameworks used for profit-testing.
  • Ensures integrity of actuarial models, as per the governance process relating to peer review
  • Review product profitability and assists management in decision taking for product development, re-pricing, product features, etc.

Product Development

  • Participate in the product development strategy, coherent with the company strategy
  • Participates in planning of the premium budget in cooperation with distribution departments managers and profit margin assumptions with finance department
  • Participates in development of retention strategy
  • Participation in preparation of all BRs, BCs and product pricing for all new and repricing initiatives including their track in Global Production System (GPS)
  • Participate in Illustrations preparation and implementation of products in local systems

Product Strategy Execution

  • Monitors and analyzes sales in respective distribution channels based on data available
  • Monitors insurance assumptions experience (lapse, mortality, morbidity/loss ratio) in coordination with Finance and Actuarial.
  • Participates in assumptions setting process
  • New business profitability analysis, IRR Spectrum reporting and maintenance of models & assumptions used
  • Participate in preparation of reports to stakeholders, including: Pipeline report, Deal Pipeline report, IRR spectrum, Post launch report, Upfront payment, inputs for QBR
  • Prepares KID documents for products regulated under PRIIPS. Maintains the PRIIPs models and performs the relevant calculations. Whatever items as deemed by reporting line
  • Provides actuarial expertise for other departments

POSITION REQUIREMENTS:

  • University degree in mathematics, informatics or economics;
  • Qualified Actuary;
  • Successful work record in insurance for at least 5 years;
  • Fluent in English;
  • Advanced MF office &VBA, knowledge of Prophet is an asset
  • Understanding of office automation / MIS technology and its implications;
  • Result oriented;
  • Resilient, works well under pressure and with various sources of information;
  • Excellent analytical skills and ability to identify weak areas through reporting;
  • Team player with ability to work also independently.
Contact

Ramóna Konkoly

36304965797