Senior Manager – Actuary (Fellow)

The Senior Manager – Actuary is a Qualified Actuary to lead on reserving, solvency, IFRS17, and all actuarial regulatory requirements, as well as product development and innovation.

Management Reporting

• Lead the development of all month-end reporting accurately including Net billed Summary, ensuring adequacy of Technical reserves and office rates.
• Set various distinguished actuarial methodologies and performing necessary actuarial analysis and ensure proper documentation is in place.
• Develop and enhance existing technical models to valuate expected reserves and ensure submit in accordance with regulatory presentation.
• Lead the function in capturing all risks related to reserving and pricing and ensure a proper communication and handling of such risks.

Regulatory Reporting

• Supervise the actuarial function in meeting regulatory deadlines, and Bupa’s technical SPOC to all actuarial related queries.
• Engage with external partners to ensure adequate model is in place and replicate it for internal use and facilitate best practice
• Improve reporting quality and ensure reconciliation of outputs across different reports submitted to different regulatory bodies.
• Lead the function taskforce in newly established regulatory practices (i.e. IFRS17) and ensure the function readiness and adaptability.

Data Management and enhancements

• Design and implement solution for modelling and reporting challenges
• Identify opportunities for standardization and improve efficiency through automation or process changes and lead department initiatives and data solution.
• Improve the reporting strategy for better understanding, data handling and streamline data flow through utilization of SAS software.
• Implement and maintain data and model governances.
• Plan documentation plans for the function.
• Ensure the update of Bupa data ground and definitions.

Team Leadership

• Cyclical KT sessions with actuarial to ensure knowledge transfer.
• Increase the team knowledge through training
• Increase level of governance among team members by introducing a “doer checker” practice.
• Lead the succession plans by ensuring a proper shadow is covering for all reports.
• Encourage the team to remain up to date with actuarial practices and liaise with management to develop relevant skills to actuarial practices.

Business Intelligence

• Enhance/maintain current forecasting methods and develop methodologies to accommodate different business risks.
• Monitor inflation/business trends (i.e. mix impact) and ensure alignment with operation finance.
• Actuarial SPOC in all co-insurance and reinsurance treatments, which impact financial results.
• Develop business intelligence tool to help the business thrive as a holistic progressive finance function. (i.e. Back-testing report, Shortfall reconciliation, reserving adequacy tests)
• Flag potential inflation, data anomalies and other uncaptured risks through a standard business cycle.
• Develop business intelligence analysis, and ensure extreme ownership to capture the full landscape of risks the company might be exposed to.

Product Development

• Lead on the ideation process to come up with innovative, practical, and profitable products, and to price new products.
• Ensure coherent controls of the risks in systems and processes for the implemented products.
• Monitor closing the performance of the launched product.
• Support medical underwriter in pricing and analysing new initiatives.
• Support pricing team in pricing new benefit and assist the impact of new benefit initiatives the company or regulator might implement.

Education

• Minimum Bachelor’s degree

Years of Experience

• A minimum of 5 years’ experience

Skills Required (Technical/Managerial)

• Qualified (Fellow)
• Industry experience.
• Project management.
• Agent of change to develop and nurture department capabilities.
• Result oriented, efficient in meeting objectives.
• Building good network with external and internal parties. Outstanding analytical & problem solving skills.
• Strong verbal and written communication skills.
• Extensive knowledge of statistical modelling techniques
• Strong leadership skills