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Responsible for designing and maintaining the actuarial modelling framework and system for IFRS 17 to meet business needs and regulatory requirements.
Ensure deliverables are in high quality.
Roles and Responsibilities :
Develop data, system and process for IFRS 17
Assess the data and assumption readiness for transition to IFRS 17
Provide user requirement for various data and systems (e.g. Prophet, reinsurance system and sub-ledger) to IT
Co-ordinate with IT or other parties to ensure the data and systems after development fulfill the user requirements
Develop and maintain actuarial modelling framework, review model design, model controls, model constraints and coding efficiency
Develop the IFRS 17 reporting process flow
Collaborate with Group Office in establishing IFRS 17 methodology
Understand the HK product portfolio and assist in reviewing the accounting policy paper / practical guidance by Group Office
Assess the assumption gap compared to IFRS 17 requirements and develop new assumptions
Collaborate with Group Office in performing financial impact analysis, understand the impact on product profitability and formulate strategy
Take responsibility for actuarial modelling projects, utilize existing data for sophisticated statistical analysis and modelling work
Involve in detailed review and design of actuarial systems including relevant documentation, procedures and instruction manuals
Optimize software performance to ensure compatibility with latest technology
Maintain the software's compliance with industry standards
Perform data and system UAT, and other responsibilities and duties periodically assigned
Minimum Job Requirements :
University / College graduate in Actuarial Science or related disciplines
Minimum 6 years of relevant experience
Good progress in Actuarial professional examination
Knowledge in insurance products and IFRS4 / USGAAP, IFRS17 will be an asset
Proficiency in Actuarial Software Prophet, especially Prophet ALS is a plus
Experience in data and system UAT is a plus
Proficiency in MS Office
Good written and verbal English skill. Good written and verbal Chinese skill is an advantage
Fluent in Cantonese and English mandatory, Putonghua preferable