Nice to know

Mainly responsible for (A) managing the assigned reinsurance activities; (B) performing actuarial valuation; and (C) managing annual Best Estimate Assumption (BEA) update activities. He / She will need to:

(i) Coordinate with relevant counterparties (e.g. pricing team, claim, accounting, operation and reinsurers) to ensure that reinsurance administration process is done properly and within timely manner

(ii) Perform experience study and develop assumptions for financial projections (e.g. reinsurance assumptions).

(iii) Complete statistical/ performance reports with commentary, and perform business analysis e.g reinsurance cost optimization or other ad-hoc business analysis as assigned by the line manager

(iv) Deliver actuarial valuation reports and analyses (e.g. statutory reserving, IFRS reserving, risk-based capital – liability) and submitting to all relevant parties with accuracy and in timely manner.

(v) Coordinate and monitor the annual BEA update related actives

Your Day at Allianz Ayudhya

1) Reinsurance Management

• Coordinate with relevant counterparties to ensure that reinsurance administration process is done properly and within timely manner
• Propose reinsurance management framework and perform reinsurance optimization.
• Review and ensure the accuracy of the reinsurance statement of account
• Setup new product in reinsurance system
• Ensure accuracy of all information in reinsurance system
• Provide adhoc requests related to reinsurance

2) Actuarial Valuation

• Monitor and validate the information regarding to actuarial valuation in the system
• Provide the actuarial valuation reports
  • Statutory Reserving
  • IFRS Reserving
  • Life Dashboard
  • New Business Values
  • MCEV/MVBS
  • Risk-based Capital – Liability, etc.
• Review and ensure the accuracy of the actuarial valuation reports
• Ensure all required changes in guidance are implemented
• Submit the actuarial valuation reports to all relevant parties with accuracy and in timely manner

3) Actuarial System’s Model Development

• Define the requirements in developing and updating actuarial system’s model
• Plan and coordinate with the relevant parties in conducting peer review on technical coding/ programming and defining the impacts of coding/ programming changes
• Plan and implement program testing to define the financial and dependency impacts
• Define the communication/ training materials for model/ methodology changes, and communicate with all relevant parties
• Support and monitor for the implementation, and define the outstanding issues of model/ methodology changes

4) Financial/ Performance Management Report

• Review and perform analysis on financial/ performance management
• Submit statistically financial/ performance reports to all relevant parties with accuracy and in timely manner

5) Financial modeling for Strategic Dialogue

• Perform financial modeling for three years plan numbers for base and sensitivities.
• Ensure required changes in guidance are implemented
• Ensure all forecast and plan numbers are submitted to AZAP and Group Actuarial with accuracy and in timely manner.

6) Insurance statistics for Office of Insurance Commission and Thai Life Assurance Association

• Perform statistics required and submitted to local regulator and insurance association
• Review and ensure the accuracy of the reports.
• Ensure the accuracy and timely delivery of the statistical reports

7) Annual Assumption Review & Coordination

• Coordinate the annual update within the team.
• Analyze the experience.
• Propose assumptions to Chief Actuary.

8) Setting of crediting strategy and declaration of bonus

• Performing bonus investigation.
• Propose the relevant cash dividend and terminal dividend for all the participating products of AZAY.

Must Have

• Bachelor’s or Master’s Degree in Finance, Actuarial Sciences, Economics, Financial Engineering, or other related fields
• Minimum 5 years’ experience in Reinsurance, Actuarial Valuation, Actuarial Pricing, or other related fields in insurance.

Nice to Have

• Knowledge of programming languages for statistical analysis and mathematical modelling (e.g. R, Python, Matlab, SQL)
• Experience in data analysis and visualization as well as interpreting KPIs (e.g. PowerBI, Tableau)
• Knowledge of data analytics software for insurance (e.g. Quantemplate, Reliable Software)
• Knowledge of collaborative project management tools (e.g. Trello, JIRA, Asana)
• Knowledge of digital communication channels to engage with colleagues remotely (e.g. Skype, WebEx)
• Experience with cloud-based tools (e.g. Microsoft Azure, AWS)
• Mathematics and statistical/ actuarial knowledge
• Programming skill for Internal Risk Capital Calculation, Risk management and assessment skills
• Quantitative and analytical thinking skills