Pricing, Consultant

At AIA we’ve started an exciting movement to create a healthier, more sustainable future for everyone.

It’s about finding new ways to not only better people's lives, but to better the communities and environments we live in. We need great Actuaries who want to be part of something bigger than finance alone. Because the better we can nurture our financial wellbeing as an organisation, the better we can support and make a difference for our customers when they need us most. By ensuring our products are well designed and priced, analysing business performance and ensuring proper management of insurance policies in-force, you’re not just safeguarding AIA’s financial wellbeing. You’re securing a better future for the people and communities we serve - today, tomorrow and for generations to come.

If that interests you, read on. 

About the Role

Ensure that products pricing are sound and in-line with requirements set by Group and meets all local regulatory requirements.

Ensure that distribution channel compensation (i.e. agency, partnership distribution) are sound and aligned to meet business objectives, including reasonable financial impacts

Roles and Responsibilities:

Pricing: Provide value to our Stakeholders

Pricing

• Lead a team of pricing professionals and supports pricing requests from Products Marketing. These includes financial assessment of new campaigns
• Propose reinsurance arrangement of new products and negotiate with reinsurers.
• Obtain appropriate approvals from Group and filing to local regulator.

Technical Lead

• Review the accuracy of pricing models to ensure that the pricing team can produce the pricing metrics and analyses required by Group Office
• Quality assurance manager for pricing templates, pricing tools and sales illustration calculators

Channel Compensation Subject-Matter Expertise

• Responsible to produce analysis to recommend compensation to distribution channels, balancing contest design attractiveness and prudence (e.g. avoid abuse risk)
• Produce metrics and dashboards, as required, to monitor and track the compensation matters.

Others

• Support company initiatives and adhoc request from other business functions.
• Processes improvements – to streamline and standardize analyses
• Performs other responsibilities and duties periodically assigned by supervisor.

Team and Individual Development

Support strengthening of team's capabilities and development

• Encourage/challenge team to have a customer-centric mindset in the product development process (value, design, experience)
• Encourage attitude to want to learn, and give team the tools to develop their technical and soft-skills knowledge and capabilities.
• Encourage openness and trust in team, seeking and listening to feedback

Improve level of engagement in the team

• Improve key areas (connection to mission and purpose, company positioning, opinions count, recognition) by linking recognition of good effort and analysis to the value it provides to customers, business decisions

Minimum Job Requirements:

• Bachelor degree in Actuarial Science or other educational background with significant mathematical and analytical courses
• Good technical, analytical and problem solving skills
• Good oral and written communication skills
• Proficiency in people management and development
• At least 6 years of actuarial experience, with at least 3 years in products pricing

Build a career with us as we help our customers and the community live Healthier, Longer, Better Lives.

You must provide all requested information, including Personal Data, to be considered for this career opportunity. Failure to provide such information may influence the processing and outcome of your application. You are responsible for ensuring that the information you submit is accurate and up-to-date.