Product Pricing, Senior Principal

Join to apply for the Product Pricing, Senior Principal (Associate Director) role at AIA Hong Kong and Macau 1 day ago Be among the first 25 applicants About The Role As a member of the Product Pricing Leadership Team, you will support the Head of Product Pricing to drive sustainable and profitable growth of new business in one or multiple product lines. Roles And Responsibilities Take ownership and responsibility of the sustainable profitable growth of new business for one or multiple product line(s). Lead the Research and Development relevant to the product line, in collaboration with technical teams, actively exploring levers and tools to improve product competitiveness and financial outcomes/resilience through enhancing profit emergence in EV/IFRS 17/HKRBC, ALM and investment strategy, and the risk management approach. Keep abreast of and uncover the underlying dynamics of the latest claim, policyholder behavior, and expense experience of the product line to identify opportunities and risks and to propose/set assumptions and modelling approaches. Prepare for changes in regulatory frameworks and lead/participate in projects that shape favorable regulatory outcome for the company. Regularly update Pricing R&D documents for discussion/ endorsement/ approval of assumptions, measurement and management approach to enhance product pricing outcomes. Develop, monitor and evolve product pricing strategy for a product line, partnering with Head of Product Pricing. Formulate the product pricing strategy, identify R&D enablers, suitable new products and management actions to compete for and take advantage of market opportunities. Monitor new business sales and financial performance as well as market landscape to identify weakness and opportunities to evolve the product pricing strategy. Collaborate with Proposition communities and other functions to develop processes and systems required to support the product pricing strategy, particularly speed to market and agility to react to changing market conditions/landscape. Influence the direction of product development discussion, leveraging on the product pricing strategy, to support effective product development. Support the Head of Product Pricing and wider Proposition communities to work collaboratively with channels to develop products, new business campaigns, and product propositions. Support the Head of Product Pricing in preparation of material for management discussions, PDC and LUSEB meetings, and other responsibilities/duties as assigned. Provide technical, project and stakeholder management guidance and support to pricing team heads in their delivery of pricing projects of your product line. Align the efforts/resources of the product pricing activities to the economic values they generate and the product pricing strategy. Minimum Job Requirements Qualified Actuary with at least 10 years of progressive experience working in a direct life insurer, reinsurer, and/or consultancy. Clear understanding of full range of product lines: Par saving, critical illness, medical, universal life, corporate solution, unit link, pension, retirement products, and protection products, with expertise in some of them. Deep expertise in principles and practices in assumption setting, asset/liability cash flow modelling, ALM, investment, capital management, medical business, and valuation. Good understanding of the interests, perspectives, and needs of stakeholders that Product Pricing interacts with or has responsibility for, and ability to develop effective professional relationships across an organization. Strong influencing and negotiation skills. Awareness of external factors, e.g. general economy, investment conditions, commercial environment, regulatory development and public opinion. Proficient command of spoken and written English. Cantonese/Mandarin a plus. Others You are required to obtain relevant license if your job involves regulated activities. 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. #J-18808-Ljbffr