Head of Par and UL management
HybridSingapore, Singapore
Job Summary
Lead actuarial management of Participating Funds and Universal Life portfolios, including Indexed Universal Life, to drive sustainable policyholder value and profitability. Develop bonus scales, crediting strategies, and yield assumptions while monitoring experience across investment performance, mortality, and lapse rates. Build team capabilities in product oversight and capital management, providing thought leadership on regulatory requirements under MAS and LIA. Support product reviews, risk assessments, and regulatory engagements, acting as a trusted advisor to senior management and Board committees on capital efficiency and governance. Collaborate with cross-functional teams to implement approved product changes and manage emerging risks from market movements and policyholder behavior.
Required Qualifications
- Actuarial management of participating funds and Universal Life (UL) businesses
- Leadership of a team of actuarial professionals
- Advisor to senior management and Board committees on participating funds, UL business management, policyholder interests, product performance, capital management, and regulatory compliance
- Support for Appointed Actuary in new product reviews and liaisons
- Development and recommendation of annual bonus scales and special bonus strategies
- Monitoring of participating fund experience including investment performance, mortality, morbidity, lapse, and other key assumptions
- Support for participating fund asset strategy discussions
- Assessment of implications of investment decisions on policyholder returns and shareholder value
- Ensuring compliance with Board-approved participating fund governance frameworks and relevant MAS and LIA requirements
- Development and recommendation of crediting rate strategies, index account strategies, yield assumptions, and other customer value management initiatives
- Monitoring of product profitability, customer behavior, persistency, and emerging experience
- Evaluation of management actions to balance customer value propositions with shareholder returns and capital efficiency
- Support for development and implementation of hedging, reinsurance, and risk management strategies relating to UL and IUL products
- Assessment of business performance and emerging risks arising from market movements, policyholder behavior, and product design features
- Assumption reviews and profitability assessments
- Risk assessments and sensitivity analysis
- Customer value assessments
- Review of product changes and enhancements to ensure consistency with policyholder expectations, business objectives, and regulatory requirements
- Coordination of actuarial support for implementation of approved product changes including financial reporting and reinsurance impacts
- Subject matter expertise on MAS and LIA requirements relating to participating fund and UL business management
- Ensuring compliance with applicable regulatory requirements, industry guidelines, and internal governance frameworks
- Leading regulatory engagements relating to participating fund and UL matters including product approvals, policyholder management practices, and governance reviews
- Liaison with MAS and industry bodies on regulatory developments and consultations impacting participating and UL businesses
- Support for regulatory submissions, Board papers, committee materials, and management reports
- Providing strategic recommendations on bonus and crediting policies, capital management, policyholder value management, product sustainability, risk management strategies, and regulatory developments and implications
- Close partnership with Product, Finance, Investments, Risk, Legal, Compliance, Operations, and Reinsurance teams to drive business objectives
- Representation of the actuarial function in key governance forums and strategic initiatives
- Hybrid working arrangement
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