Key Responsibilities

·         Being part of the Raffles Health Insurance Actuarial team, to conduct monthly reserve valuations for premium and claims liabilities, ensuring accuracy and compliance with regulatory standards.

·         Analyze and present valuation results to stakeholders, providing insights to support strategic decision-making.

·         Perform experience studies covering mortality, morbidity and persistency

·         Support the development, enhancement, and maintenance of actuarial models and valuation methodologies. This comprises both IFRS 17 and IFRS 4 bases.

·         Carry out capital management activities which includes supporting annual ORSA exercise, business projections and budgeting, monitoring the Capital Adequacy Ratio (CAR) and stress testing.

·         Manage reinsurance for the in-force block of business. This covers treaty management, reinsurance premium processing, and recoveries.

·         Preparation of MAS regulatory returns, ensuring full compliance with local reporting standards.

·         Liaise with auditors during annual financial closings, ensuring alignment with both IFRS 4 and IFRS 17 frameworks.

·         Collaborate with relevant stakeholders to enhance workflows, as well as ensuring data appropriateness and accuracy.

·         Keep up-to-date with changes in actuarial standards, regulations, and industry best practices to ensure compliance and to apply the latest methodologies.

Requirements

·         Bachelor’s degree in Actuarial Science, Mathematics, Statistics, or a related field.

·         Experience in life and/or health insurance.

·         Minimum 3 years of actuarial experience, with a focus on valuation and financial reporting

·         Proficiency in Microsoft Office suite of applications, In particular, Excel, Word, PowerPoint and Outlook.

·         Familiarity with programming languages such as R, Python, or SQL for data analysis.

·         Knowledge of financial reporting standards. In particular, Singapore FRS 4, IFRS17 and Singapore RBC.

·         Strong analytical and problem-solving abilities.

·         Good progress towards completion of actuarial exams (e.g., Society of Actuaries (SOA), Institute and Faculty of Actuaries (IFoA)).

The work location will be at 25 Tannery Lane.

Kindly note that only shortlisted candidates will be contacted.