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Job Description
We are seeking a detail-oriented and highly motivated actuarial project member to support the IFRS17 Project. The successful candidate will be responsible for performing profitability computations, contract boundary assessments, PAA eligibility tests, managing actuarial data, and assisting in regulatory reporting. This role requires strong analytical skills and knowledge of IFRS17 actuarial principles.
Key Responsibilities
Profitability Computations and Contract Boundary Assessment:
Perform profitability computations per policy.
Conduct contract boundary assessments per policy.
PAA Eligibility Testing:
Assess PAA eligibility for policies with more than one year of effectivity.
Preparation of SAS System Manual and Parameter Files:
Create manual files for insurance transactions not covered by core system files.
Update parameter files to facilitate actuarial calculations and automated accounting processes in the SAS system.
Data Management and Uploading:
Upload manual and parameter files into the SAS STP system.
Ensure accuracy and completeness of uploaded data.
Manual Preparation of Core System Files:
Prepare actuarial valuation files manually while automation processes are being developed.
Ensure data aligns with the required IFRS17 granularity levels.
Downloading and Processing Data:
Extract output files from SAS EG for further processing and analysis.
Download actuarial reports (e.g. Unearned Premium Reserves (UPR) calculations) for validation and review.
Data Validation and Reconciliation:
Validate parameter files, manual files, and core system files to ensure data integrity in SAS system.
Perform actuarial report validation and UPR roll-forward analysis.
Quantitative Impact Assessment (QIA) Support:
Prepare data for IFRS17 quantitative impact assessments
Break down data into required IFRS17 granularity levels.
Regulatory Reporting Assistance:
Support preparation of the Insurance Commission’s Qualitative Impact Assessment templates.
Assist in completing the Preparedness Assessment templates.
Qualification and Skills:
· Bachelor’s degree in Actuarial Science, Mathematics, Statistics, or any related field.
· Prior experience in insurance industry, actuarial computations, or IFRS17 implementation is an advantage.
· Excellent analytical skills with attention to details.
· Proficiency in Microsoft Excel and other actuarial modeling tools.
Salary
About Us
Etiqa Life and General Assurance Philippines, Inc. or Etiqa Philippines (via AsianLife and General Assurance Corporation) has been in the industry for over 40 years, and has built a solid reputation for fast, prompt and reliable service supported by over 1,400 accredited hospitals and clinics nationwide, with 25,000 doctors, and a 24/7 in-house call center.
Etiqa Philippines offers Group Life, Non-Life, and Retail (Individual) products that cater to protection, savings, insurance, and investment needs for various segments in the Philippines. It has a wide range of products, which includes endowment, term, education, investment-linked, and medical insurance for Life while the Non-Life range includes Personal accident, Fire, Motor, Aviation, Fleet Management, and engineering policies. These products are offered and available through multiple distribution channels including Brokers, Agents, Partners, and online via www.etiqa.com.ph as well as Bancassurance partnership with Maybank Philippines.
The new Identity of Etiqa Philippines is expected to drive the company’s shift from mainly a Group Insurance provider for the past 40 years, to a Retail Insurance provider and eventually a leading insurance company in the Philippines in years to come.
Etiqa Life and General Assurance Philippines, Inc. or Etiqa Philippines (via AsianLife and General Assurance Corporation) has been in the industry for over 40 years, and has built a solid reputation for fast, prompt and reliable service supported by over 1,400 accredited hospitals and clinics nationwide, with 25,000 doctors, and a 24/7 in-house call center.
Etiqa Philippines offers Group Life, Non-Life, and Retail (Individual) products that cater to protection, savings, insurance, and investment needs for various segments in the Philippines. It has a wide range of products, which includes endowment, term, education, investment-linked, and medical insurance for Life while the Non-Life range includes Personal accident, Fire, Motor, Aviation, Fleet Management, and engineering policies. These products are offered and available through multiple distribution channels including Brokers, Agents, Partners, and online via www.etiqa.com.ph as well as Bancassurance partnership with Maybank Philippines.
The new Identity of Etiqa Philippines is expected to drive the company’s shift from mainly a Group Insurance provider for the past 40 years, to a Retail Insurance provider and eventually a leading insurance company in the Philippines in years to come.
