Insurer is looking for an actuarial manager

PUBLISHED : Saturday, 15 March, 2008, 12:00am
UPDATED : Saturday, 15 March, 2008, 12:00am

An effective communicator willing to take on new challenges should apply for this role with a fast-growing company.

Zurich Insurance Group (Hong Kong), part of the Zurich Financial Services Group, one of the largest Swiss-based insurance corporations and a Fortune Global 100 company, is seeking an actuarial manager, life insurance, to lead and manage the financial management function.

'Our company is growing rapidly in Hong Kong so, from that point of view, we need more resources and capabilities to help us handle the volume growth,' senior head of life operations and chief actuary Kevin Lee said.

'The role specifically is looking at how, as we are growing faster, the speed of change is increasing, so we need a level of data and a level of information to measure the financial risks. And we need a strong team and more capabilities to help us analyse.'

Duties include planning, pricing, experience monitoring, asset and liability reporting, preparing pricing and profit testing reports, recommending premium rate structures, ensuring and monitoring the solvency and financial position, developing and maintaining the statutory valuation system and financial projection, and developing a capable and cost-effective team.

The actuarial manager, with a degree in actuarial science, mathematics, statistics or the equivalent, must have at least six years' experience in life insurance, of which two years must be in a management position.

Mr Lee said that two qualities were important for this role - agility and strong communication skills - and only candidates with strengths in these areas would be considered.

'The requirements of this job change all the time, so the person needs to be flexible and agile [because] sometimes we might have an immediate request from someone to do something very quickly,' he said.

The candidate must be prepared to learn standards from various parts of the world.

'Be prepared to be challenged and to challenge the status quo. Just because things are done a certain way does not mean it has to always be done that way,' he said.

Communication is imperative to this role because the person will liaise with colleagues, clients and senior management.

'The differentiating factor [for candidate selection] is communication skills,' Mr Lee said.

'They will interact with many teams and customer service, and they must be able to explain to other people what things mean. Many people who they interact with will need a technical explanation of what things mean.'

The firm needs someone with good computer programming skills and a working knowledge of Prophet Software. Strong written and verbal skills in English and Chinese are a must.