Senior/Executive (Actuarial - Valuation)

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)).