Actuarial Trainee, Pricing

Found in: beBee S HK - 4 weeks ago

Hong Kong, Hong Kong SAR China Aegon N.V. Full time
Job Description Summary
The primary role of Product Development & Pricing team is to develop, determine and implement optimal pricing strategies that balance competitiveness and profitability while ensuring compliance with company pricing standards and regulatory requirements. The team is also to involve in an end-to-end product development cycle - development, pricing, profit testing, approval, implementation and launch - with interaction with various stakeholders such as Product Marketing, Ops and IT within the company. Other key responsibilities of the team include in-force product management as well as customized quotations/illustrations.

The incumbent is expected to leverage his/her skillsets to assist in the team's tasks. In particular:
-Pricing and risk assessment of new products;
-Crediting rate setting process;
-Special quotations;
-Customized illustrations.

The role will also be able to be involved in ad-hoc actuarial projects

Job Description

Job Responsibilities:
  • Provide support in profit testing and risk assessment of new products/campaigns.
  • Assist in implementation of new products that includes system testing.
  • Provide assistance in crediting rate setting and the associated analysis/investigation.
  • Assist in special quotations and customized illustrations by understanding and reacting the request in a timely manner.
  • Participate in ad-hoc actuarial projects.


Professional / Technical Competencies Required:

Knowledge:

Essential:
  • Degree in Actuarial Science, Mathematics, Statistics or relevant discipline.
  • Have made significant progress in the actuarial exams.
  • Proficient in computer skills including MS office, esp. MS Excel, Word and PowerPoint.
  • Knowledge in computer programming, esp. VBA in Excel, and actuarial software.


Desired:
  • Associate of any recognized actuarial association.
  • Actuarial software programming in RAFM (or C++).
  • Knowledge in High Net Worth ("HNW") life insurance market.


Skills/Abilities:

Essential:
  • Experience of pricing life insurance products.
  • Experience in end-to-end product development cycle that includes implementation.


Desired:
  • Knowledge of HNW insurance markets under the Hong Kong, Singapore and Bermuda regulatory framework.
  • Knowledge of IFRS and Market Consistent frameworks.


Soft/Transferable Competencies:

Essential:
  • Good problem solving & analytical skills
  • Effective communication skills - ability to articulate and explain findings in unambiguous fashion
  • Ability to work independently and responsibly
  • Strong desire to learn


Desired:
  • Analysis/Problem solving: ability to proactively identify issues and initiate changes for greater efficiency.
  • Openness to new ideas and innovation: ability to grasp new ideas and engage in product innovation process/discussion.
  • A team player with excellent interpersonal skills to work across multiple disciplines.


Equal Opportunity Employer

Aegon Asia provides equal employment opportunities for employees and applicants throughout the employment life cycle, including recruitment and selection, promotions, transfers, training and development, compensation and benefits, performance management, disciplinary procedures, Company-sponsored social and recreational programs and termination. No one will be discriminated against because of race, color, religion, sex, age, national origin, sexual orientation, gender identity, pregnancy, family circumstances, physical or mental disability, marital status, participation in the uniformed armed services or any other status protected by law.

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