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.