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Location: 

Mumbai, MH, IN

Portfolio Management Actuary

 


About Swiss Re
 

Swiss Re is one of the world’s leading providers of reinsurance, insurance and other forms of insurance-based risk transfer, working to make the world more resilient. We anticipate and manage a wide variety of risks, from natural catastrophes and climate change to cybercrime.

At Swiss Re we combine experience with creative thinking and cutting-edge expertise to create new opportunities and solutions for our clients. This is possible thanks to the collaboration of more than 13,000 employees across the world.

We offer a flexible working environment where curious and adaptable people thrive. Are you interested in joining us?

 

About the Team

 

The Portfolio Management team forms part of the Business Management division in Swiss Re together with other units including Technical Accounting, Actuarial Management and Claims. The team has interdependent relationships with other units within the Life & Health Business Management division and is required to foster a strong team culture in order to drive delivery of the overall divisional mandate. 

 

The mandate of the Portfolio Management team is to monitor, protect and maximize the shareholder value extracted from the in-force L&H portfolio across its six markets in Asia: China, Japan, South Korea, South East Asia, Hong Kong & Taiwan and India.

 

As part of a team of twelve, this role reports to the Head L&H Portfolio Management Asia and working closely with other senior team members. This role will be focusing on the business in India market, and also participation in regional initiatives. This role will offer great exposure to leaders at the executive level, including frequent access to the Managing Director and Regional Head of the Business Management in Asia Pacific. In addition, the team works closely with other departments in Division Asia's L&H Community, including Pricing, Finance, Transactions and Client markets.

 

 

Key Responsibilities

 

  1. Portfolio Management: actively participate and support the Head of Portfolio Management Asia's responsibility in engaging with other internal partner functions (and with external clients) to perform effective management of L&H's in-force portfolios in India.

 

  1. Driving initiatives on the India inforce portfolio to increase value and manage risk. This includes for example:
  1. Performing portfolio deep dives to review treaty profitability and propose actions to improve treaty performance
  2. Reprice reviewable rate treaties and/or provide technical peer reviews
  3. Complete quantitative experience analysis and valuation for recaptures or non-contractual change on the inforce
  4. Driving initiatives on the inforce to deliver on key financial KPIs, Customer Retention Management, IFRS 17 and other inforce solutions

 

3)           Experience monitoring:

  1. Manage the production of regular and ad hoc monitoring analysis, including claims, retention/lapse, and other.
  2. Act as a key input provider for business steering and in-force management via monitoring experience and communicating lessons learned and reserving implications to key stakeholders
  3. Monitor treaty's rate review trigger or internal KPI to ensure timely action is taken when necessary
  4. Identifying early warning signals and managing portfolio risks such that proactive action can be taken to protect the value of the in-force and ensure its sustainability; Spot issue early and fix them
  5. Facilitating the feedback loop process, such that there is good information flow and action between the relevant cross-functional teams, for example, by chairing and present findings in market Portfolio Review Groups
  1. Transactions and New Business onboarding:

 

    1. Support the team leader's role in providing referral review and approval on client treaty recapture and re-pricing activities requiring Business Management sign-off based on defined referral governance authority
    2. Support for transactions both pre-deal as key business bound representatives, and post deal implementation
    3. Ensure new business is onboarded considering its risk profiles and materiality

 

5)           Provide occasional back-up technical support to the L&H Actuarial Management teams as required

 

6)           Support Group wide and local projects as required, including other priorities of the L&H Business Management team.

 

About You

  • Qualified actuary (or near-qualification) with a recognised Actuarial professional body
  • Minimum 8 to 10 years of L&H valuation or pricing experience in reinsurance, primary insurance or actuarial consulting
  • Solid technical knowledge in areas of liability portfolio management (e.g. experience analysis, product pricing and valuation, financial performance analysis)
  • Working knowledge of US GAAP financial reporting and embedded valuation methods (e.g. MCEV, EEV, TEV)
  • Analytical skills, good understanding of financial reporting systems, actuarial models and data management
  • Fundamental understanding of the Indian insurance and reinsurance industry, and knowledge of the main products and services offered by Swiss Re and its competitors
  • Excellent communication and presentation skills, with proven ability to chair large meetings with cross functional teams or external clients
  • Ability to liaise with various stakeholders on different in-force management initiatives to resolve issues and find win-win solutions
  • Ability to navigate ambiguity and to work autonomously
  • Experience in regular experience monitoring and highlight/ investigate variance in experience and its root causes
  • Always hold yourself accountable and deliver the best solution for clients and stakeholders
  • Understand how you fit in the wider strategy and stay focus on delivering on outcomes and results

Keywords:  
Reference Code: 103809 


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