Chubb Life: Manager - Actuarial Pricing
Chubb Life: Manager - Actuarial Pricing
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Job Description
Job Summary:
As the Pricing Manager you will play a pivotal role in the pricing strategy and product development process of our organization. You will work closely with cross-functional teams to ensure that product features compensation models and business rules align with our organizational objectives. Your expertise will help guide the development of new products and the repricing of existing ones using advanced actuarial models to deliver profitability insights and financial analyses. Additionally you will mentor junior staff support the ongoing operations of pricing channels and provide market intelligence to maintain our competitive edge.
Key Responsibilities:
Pricing & Product Development
- Product Coordination:Collaborate with Product and Distribution teams to gather requirements on product features compensation structures and underlying business rules.
- Product Development:Oversee the entire product development lifecycle from concept through implementation ensuring alignment with strategic goals.
- Actuarial Pricing Model Management:Prepare and run the actuarial pricing model (Prophet) for new and repriced products generating profitability results and comprehensive financial analyses.
- Implementation Oversight:Manage the product implementation responsibilities of the actuarial team including user-testing of system changes and preparation of sales illustrations.
- Model Improvement:Assist in refining and improving existing pricing models to enhance accuracy and effectiveness.
- Profitability Monitoring:Prepare and review profit analysis and monitoring reports identifying innovative approaches to enhance product profitability.
- Communication:Effectively communicate product development progress and summarized information to local regional and global senior management.
Support Operations and Market Intelligence
- Operational Support:Support ongoing channel operations particularly in areas such as surrender value checking as well as contribute to marketing initiatives (e.g. campaign analysis).
- Market Intelligence Gathering:Support efforts to gather market intelligence by tracking competitors products and conducting necessary analyses to inform our strategies.
- Reporting:Assist in the production of regular reports to regulatory bodies including but not limited to the OIC and TLAA.
Qualifications
- At least 5 years in the life insurance industry with pricing experience
- Qualified under a recognized actuarial qualification (fellow) with 4 years of post-qualification experience
- Strong technical skills with knowledge and experience of actuarial processes for traditional products using projected cashflow and embedded value methodologies
- Understanding of capital profit and value measures in the context of product pricing
- Experienced user of Excel and actuarial modeling software preferably Prophet or AFM
- Competency require (Knowledge Skills Attribute)
- Technical and analytical skills with a hands-on approach
- Able to work in collaborative teams and manage through influence rather than positional authority
- Able to communicate decisions and issues to senior management effectively with sound communication and presentation skills
- Highly responsible and trustworthy with respect to timeline and deliverables
- Ability to prioritize between projects/tasks and to use efficient working methods/solutions and to work under pressure
- Good spoken and written communication skills in English
- Dynamic and enthusiastic with capacity to work independently and take initiative
- Management & leadership potential able to train and develop junior staff
Required Experience:
Manager
Employment Type
Full-Time
