Position OverviewProduct Pricing Actuary will be primarily responsible for pricing of new products and new risks for all lines of business in Southeast Asia markets. This includes but not limited to pricing basis derivation, modelling, data analysis and risk assessment. He/she is expected to take up a leading role together with Chief Pricing Actuary (CPA), Chief Underwriter (CU) and Head of Southeast Asia (HoSEA) in such product development initiatives with minimum supervision and in collaboration with other stakeholders including business development, pricing, underwriting, claims and regional office in obtaining internal approval. Together with the team, this role is expected to create new propositions that will lead to exclusive deals as part of our 5-year strategy. This role may also provide support as reviewer or approver of BAU pricing from time to time.Responsibilities Support CPA, CU and HoSEA in managing various aspects of product development activities of RGA Southeast Asia including participating in strategic discussion, attending product workshops and attending client meetings as a product subject matter expert when required. Take up a leading role in the development and implementation of new product initiatives from pricing and risk management perspective, this includes but not limited to: Research on products, market opportunities, healthcare and medical insurance trends and provide recommendations on the potential value proposition and design of new products Developing the pricing basis for new products, benefits and risks supported by research papers, desktop research, internal/external data sources, etc. Providing recommendation in the design and structure of new products that enhances the competitiveness of RGA’s offer and sustainability of business unit’s profitability Providing input on the definitions and underwriting requirements following discussions with the product underwriters, claims or chief medical officers Providing recommendation on risk controls and management Obtaining pricing-related internal approval for the new product if needed Assist with providing technical inputs and review of product and marketing materials Assist with the roll out of new product ideas and sharing information with all RGA Asian offices. Support CPA in engaging and working with Product Pricing Community, medical, underwriting, claims and other specialists internally to identify potential opportunities, product trends across the markets as well as other actuarial insights and apply/implement these learnings for SEA market. Ensure all pricing procedures, including preparation of pricing memo, peer reviews and regional escalation of the new products comply with RGA’s internal pricing standards, guidelines and country mandate. Work closely with business development and treaty specialist in reviewing and negotiating treaty terms of new products with clients and ensure treaties are completed and signed in a timely fashion. Support business development in building and maintain strong relationships with counterparts of our client companies. Support pricing review and approval of quotes within SEA countries on an ad-hoc basis. Requirements Qualified actuary with a globally recognized actuarial association At least 8 years of actuarial working experience with pricing, product development experience either with insurer or reinsurer Highly organized, delivery-orientated with the ability to work with multiple concurrent projects Highly motivated, results oriented and solutions focused Ability to work effectively under pressure Strong interpersonal skills with the ability to negotiate and influence others Strong technical skills and attention to detail Strong client services ability with excellent communication skills (both written and verbal) Advanced Excel skills is required and experience in using actuarial software, e.g. Axis, is strongly preferred Ability to challenge and enhance existing analytical methodologies Innovative, proactive and improvement oriented Ability to work independently and as part of a team and deal with multiple stakeholders within the business Ability to work within a virtual office environment, including dealing with stakeholders that are not physically in the same office Excellent English communication skills – both written and verbal. Asian language skills desirable Company OverviewMore than anything, RGA employees love their jobs because it's challenging work. We believe smart people work smarter when they're empowered. When they use logic, balanced with creativity and curiosity. At the forefront of RGA's culture is collaboration - a must to be successful within our organization.
