The Business Partner acts as the primary point of contact for local business unit for financial business management matters in areas including but not limited to management reporting, budget planning, business case, sales recruitment, distribution compensation and incentives, product related and other financial related approvals as required of the Group CFO and / or Group Chief Actuary.
1. Value management and improving financial performance across all key financial metrics
Keep up-to-date on the local market landscape (product, channel, sales trend) and regulatory development.
Analyze financial and operational performance, initiate and participate in finance optimization projects that would enhance values and capital efficiency of the company
Promote the mindset of continuous inforce business management in order to deliver sustainable, quality results.
2. Business case approval for distribution compensation & incentive, sales recruitment, product related and other finance related approval
Act as the first line of defense from risk management perspective to provide recommendation
3. Actuarial related support, review and approvals
Formulate policies and guidelines for product pricing, distribution compensation & incentives, sales recruitment, sales illustration, policyholder bonus etc.
Regularly review the above-mentioned policies and guidelines to ensure they remain relevant and appropriate in the light of local market landscape, regulatory development and customer expectation.
Formulate basis and minimum requirement for experience review, the results of which should be fed into the annual business planning and operating assumption setting process.
4. Annual operating assumption setting
Drive the annual review process to ensure the best estimate assumptions are internally consistent and appropriate taking into account historical experience, trends and outlook.
Support local business units by providing constructive challenge and facilitate approval by presenting a complete and balanced view.
5. Act as a specialist in technical topics in products and distribution channels .
University graduate with minimum 8 years actuarial experience
Fellowship in a recognized international actuarial professional body
Practical knowledge of life insurance products
Strong technical skill and negotiation skill
Sound problem solving and decision making skills
Good communication and interpersonal skills