Description

  • The Chief Actuary has over-all responsibility over Allianz PNB Life's corporate actuarial function, as well as, supports the actuarial aspects of the product provider and risk management functions for the company. 
  • The officer promotes actuarial best practices and ensures integrity of company's reserving and pricing. 
  • He/she sets and implements the company's actuarial policy in order to provide an effective contribution to the company's strategy with respect to sustainable growth and healthy profitability. 
  • As the signing actuary, he/she serves as the key contact point for actuarial matters with company's business units, external parties (such as regulators and auditors) and the other parts of the Allianz Group (with functional reporting line to Regional Chief Actuary).

Key Result Areas (KRA)

  1. Actuarial Reporting (including technical provisions or policy/insurance reserves, embedded values and new business values, risk capital intensity, business projections).
  2. Actuarial Studies (including review of actuarial assumptions e.g. mortality, lapse, expenses; crediting strategy, sales compensation schemes, underwriting policy, reinsurance program including retention limits); and, Profit Testing.
  3. Implementation of Allianz Group requirements, including IFRS17 standards.

Duties and Responsibilities

  • Timely and accurate submission of actuarial reports, with in depth analyses of movements & drivers.
  • Perform business projections, and help identify and/or assess business opportunities.
  • Develop and implement improved actuarial procedures, ensuring the existence of effective control framework for high quality actuarial output.
  • Perform experience analyses to ensure reasonableness of assumptions for valuation and pricing -- that is, assumptions are consistent with the company's experience where such experience exists, or sufficient explanations have been provided where this is not the case.
  • Provide actuarial advice and consultation to top management on business developments, financial position, and technical provisions (reserves).
  • Final review and sign-off of pricing report for submission to Allianz regional office and/or regulators. 
  • Create an end-to-end future valuation and closing process, as well as reinsurance administration process, meeting Allianz Group and regulatory requirements.
  • Ensure development and setup of IFRS17-ready actuarial infrastructure.
  • Develop and evaluate corporate actuarial resources.

Technical and Job-specific Requirements

  • Fellow of the Actuarial Society of the Philippines, with additional professional credentials a plus.
  • At least 12 years of experience in actuarial area, particular doing valuation and pricing work.
  • At least 8 years of management experience in Corporate Actuarial area.
  • Strong conceptual and analytical skills and independent thinking.
  • Excellent communication, organizational, influencing, and leadership skills with proven successful experience working with top management.
Interested? Send us an email at HRTalentAcquisition@allianzpnblife.ph