Job Description

The Senior Manager – Actuary is a Qualified Actuary to lead on reserving, solvency, IFRS17, and all actuarial regulatory requirements, as well as product development and innovation.

Management Reporting

·        Lead the development of all month-end reporting accurately including Net billed Summary, ensuring adequacy of Technical reserves and office rates.

·        Set various distinguished actuarial methodologies and performing necessary actuarial analysis and ensure proper documentation is in place.

·        Develop and enhance existing technical models to valuate expected reserves and ensure submit in accordance with regulatory presentation.

·        Lead the function in capturing all risks related to reserving and pricing and ensure a proper communication and handling of such risks.

Regulatory Reporting

·        Supervise the actuarial function in meeting regulatory deadlines, and Bupa’s technical SPOC to all actuarial related queries.

·        Engage with external partners to ensure adequate model is in place and replicate it for internal use and facilitate best practice

·        Improve reporting quality and ensure reconciliation of outputs across different reports submitted to different regulatory bodies.

·        Lead the function taskforce in newly established regulatory practices (i.e. IFRS17) and ensure the function readiness and adaptability.

Data Management and enhancements

·        Design and implement solution for modelling and reporting challenges

·        Identify opportunities for standardization and improve efficiency through automation or process changes and lead department initiatives and data solution.

·        Improve the reporting strategy for better understanding, data handling and streamline data flow through utilization of SAS software.

·        Implement and maintain data and model governances.

·        Plan documentation plans for the function.

·        Ensure the update of Bupa data ground and definitions.

Team Leadership

·        Cyclical KT sessions with actuarial to ensure knowledge transfer.

·        Increase the team knowledge through training

·        Increase level of governance among team members by introducing a “doer checker” practice.

·        Lead the succession plans by ensuring a proper shadow is covering for all reports.

·        Encourage the team to remain up to date with actuarial practices and liaise with management to develop relevant skills to actuarial practices.

Business Intelligence

·        Enhance/maintain current forecasting methods and develop methodologies to accommodate different business risks.

·        Monitor inflation/business trends (i.e. mix impact) and ensure alignment with operation finance.

·        Actuarial SPOC in all co-insurance and reinsurance treatments, which impact financial results.

·        Develop business intelligence tool to help the business thrive as a holistic progressive finance function. (i.e. Back-testing report, Shortfall reconciliation, reserving adequacy tests)

·        Flag potential inflation, data anomalies and other uncaptured risks through a standard business cycle.

·        Develop business intelligence analysis, and ensure extreme ownership to capture the full landscape of risks the company might be exposed to.

Product Development

·        Lead on the ideation process to come up with innovative, practical, and profitable products, and to price new products.

·        Ensure coherent controls of the risks in systems and processes for the implemented products.

·        Monitor closing the performance of the launched product.

·        Support medical underwriter in pricing and analysing new initiatives.

·        Support pricing team in pricing new benefit and assist the impact of new benefit initiatives the company or regulator might implement.

Skills

Education

·        Minimum Bachelor’s degree

Years of Experience

·        A minimum of 5 years’ experience

Skills Required (Technical/Managerial)

·        Qualified (Fellow)

·        Industry experience.

·        Project management.

·        Agent of change to develop and nurture department capabilities.

·        Result oriented, efficient in meeting objectives.

·        Building good network with external and internal parties. Outstanding analytical & problem solving skills.

·        Strong verbal and written communication skills.

·        Extensive knowledge of statistical modelling techniques

·        Strong leadership skills