[Actuary Dept.] Senior Pricing Actuary

Job Purpose:

• Participate in designing new products;
• Price new products, revamp current products;
• Perform relevant actuarial tasks including modelling, technical supports for sale force;
• Cooperate with relevant departments in launching new products, completing product guidelines;
• Support sale channels and customer service departments;
• Perform other tasks upon manager’ requests.

Key Responsibilities:

1. Participate in designing new products:

• Cooperate with relevant departments (sale, bancassurance, marketing) to perform researches on market demand, competitors’ products, compare the company’s products to competitors’ products to identify the differences.
• Propose ideas on new products from product development perspective

2. Price new products, revamp current products:

• Participate in evaluating, proposing and setting up pricing assumptions
• Participate in determining appropriate pricing model for each product including benefits cashflow, financial KPI, premium rates, policyholder’s cashflow, premium comparison with other similar products in the market
• Perform pricing report and related pricing documents
• Calculate commissions, expenses or exclusive payments for special channels such as digital channel, tele sale channel
• Participate in providing pricing guideline

3. Product monitoring

• Monitoring profitability of product and support line manager to proposal suitable management actions for future product’s strategy.

4. Perform relevant actuarial tasks

• Work with reinsurer on reinsurance rates, perform reinsurance reports periodically
• Provide comments on risk assessment and underwriting from product development perspective
• Propose relevant comments on other actuarial tasks

5. Cooperate and support relevant departments in launching product, complete product regulations and guidelines

• Discuss with others internal and external stakeholder on product features, illustration, regulations and product guidelines, product configuration documents
• UAT for business functions in IT system (SAP, EBAO or other systems)
• Participate in conducting and completing product regulations

6. Support sale and customer services

• Support relevant departments of HO (claim management, policy management…)
• Support branches following their requests

7. Other tasks upon manager’s requests

• Provide assessments/information following relevant departments (for example, Bancassurance)
• Provide figures following requests of auditors
• Provide comments on relevant plans of the company