Actuarial Manager

The Actuarial Manager, Par Management and Risk Modelling is responsible for leading the Participating (Par) business management and risk modelling activities within the Actuarial Valuation function. The role oversees dividend studies, Par reporting, Financial Condition Testing (FCT), and risk sensitivity analysis, while providing strategic insights to support business decision-making, financial management, and regulatory compliance.

The incumbent is responsible for managing a team of actuarial professionals, ensuring timely delivery of key actuarial outputs, fostering team development, and driving continuous improvement initiatives.

Responsibilities

Dividend Study:

• Lead the annual dividend study process for traditional participating (Par) products.
• Review experience analyses and financial results to support dividend recommendations.
• Provide recommendations and present key findings to the Chief Actuary and senior management.
• Ensure dividend recommendations are appropriately supported, documented, and aligned with company objectives.

Par Reporting:

• Manage the delivery of the quarterly valuation related to traditional par products such as Time Value of Guarantee (TVOG), and Unallocated Dividend Liability (UDL)
• Manage the preparation of relevant reports for OSFI regulatory requirements for traditional par products
• Direct stochastic asset modelling activities and ensure the appropriateness of modelling methodologies and assumptions.

Financial Condition Testing (FCT)

• Lead the completion of the annual Financial Condition Testing process.
• Review results and communicate key insights, risks, and recommendations to senior management.

Risk Sensitivity Analysis:

• Provide direction for the development, enhancement, and maintenance of market and insurance risk sensitivity models.
• Oversee the production and interpretation of quarterly risk sensitivity results.
• Assess key risk exposures and communicate their implications to business leaders and stakeholder

Ad-hoc projects depending on business needs such as but not limited to

• Provide support on the semi-annual business plan projections
• Drive process improvement, automation, and model enhancement initiatives to improve efficiency, controls, and scalability
• Partner with Finance, Risk Management, ALM, Pricing, Regional office and other stakeholders on strategic initiatives.
• Lead or contribute to special projects and actuarial initiatives as required

Leadership and People Management

• Lead, coach, and develop a team of actuarial professionals supporting Par Management and Risk Modelling activities.
• Establish team goals, monitor performance, and provide ongoing feedback and career development support.
• Ensure appropriate workload distribution and effective resource planning to meet business objectives.
• Foster a collaborative and high-performing team environment

Qualifications

• University degree with a strong mathematical or statistical background
• Associate or near-associate of the Actuarial Society of the Philippines (ASP)
• Minimum of 7 years of actuarial experience, preferably within life insurance
• Strong knowledge of actuarial modelling and valuation concepts.
• Hands-on experience with actuarial modelling software, preferably AXIS.
• Strong proficiency in Microsoft Office applications, particularly Excel.
• Strong analytical thinking and decision-making capabilities.
• Ability to manage competing priorities and deliver high-quality results under tight timelines.
• Strong sense of accountability, ownership, and continuous improvement
• Excellent written and verbal communication skills, including the ability to explain technical concepts to non-technical stakeholders.
• Collaborative team player with strong stakeholder management skills.