About the job Lead, Product Actuarial Pricing The Actuarial Pricing Product Lead is responsible for the proper pricing of all individual products and new/revised group products. The role is also responsible for ensuring that standards and key metric requirements of the product and the company are met.
Job Responsibilities: Provides product projections, forecasts and analysis to assist the Product Development Division make decisions regarding the product development strategy. Conducts benchmarking and product comparison activities to analyze product competitiveness. Defines scope and requirements, assesses technical feasibility, and user needs, and bridges business goals to ensure products and features are scalable. Collaborates with various teams across the organization including Actuarial, Operations, Sales, and other committees to ensure that all the pricing variables are captured and properly modeled. Conducts pricing validation, viability, and profit testing for proposed products and product improvements. Prepares and finalizes actuarial calculations, the basis of assumptions to arrive at actuarial values and asset shares. Prepares the Actuarial calculations including net premiums, reserves, cash values, and other non-forfeiture values, asset shares, and draft of actuarial notes of products in coordination with the Chief Actuary. Computes and validates gross premiums based on the assumptions and profit objectives of the Company. Prepares and maintains pricing models used in the development of the product. Manages regulatory submission and liaises with the Insurance Commission on new product approvals and improvements. Manages the company's product portfolio to ensure new sales and margin objectives are met. Defines and ensures alignment of product assumptions in the core, IFRS, and Actuarial systems/software. Identifies best practices and tools for product development and pricing process. Leads and manages the Pricing team, ensuring accomplishment of deliverables, setting of clear goals and priorities, and guiding members of the team especially in actuarial and technical skills. Performs any other tasks that may be directed to do. Qualifications: Bachelor's degree holder in BS Mathematics, Statistics and other relevant courses Affiliate or Associate of the Actuarial Society of the Philippines/Society of Actuaries At least 5 years experience in life insurance or similar experience with key focus on Actuarial Product Development Individual Product Pricing Proficient in Microsoft Office applications Knowledge of the application of Actuarial Software such as FIS-Prophet or Axis is an advantage. Data analytics skills are welcome as well as previous leadership experience
