【Principal Duties & Responsibilities】
◆Support the development of economic-based performance measures for a fellow subsidiary.
• Embedded value(EV), Value of New Business(VONB), Economic Solvency Ratio(ESR), Insurance Capital Standard(ICS), etc.
◆Communication with the subsidiary on the development (if needed)
• Currently, they measure EV and VONB using a Top-down approach.
• they plan to change EV and VONB to a Bottom-up approach, and ESR to a method similar to ICS.
• Advise them on how to calculate new performance measures.
◆Analysis of differences between old and new performance measures.
• Find out what the main factors are that cause the measures to increase/decrease.
◆Analysis of information from the subsidiary regarding the issues above
• Cashflow analysis
• Validate their work on templates of EV/ESR/ICS etc.
• Analyze more detail based on data from them
e.g., what kinds of risks of how much risks each business line or product has
◆Analysis of the business performance of the subsidiary on an economic basis
• Discuss with them how to improve business performance on economic-based measures.
• Discuss and determine with them to reflect action plans to improve business performance on economic-based measures.
◆Support the establishment of a measurement system
• documentation, system, process, internal control, etc.
◆Reporting to the company management incl. CEO, and COO on the above issues
◆Discuss and consult with the company on the above issues.
【Education & Experience】
• At least 5 years of experience as a life insurance actuary, in all fields of pricing, valuation, risk management, etc. are acceptable.
• At least 1 year of experience with EV or some other cash flow system (Prophet, Risk Agility, MGAlpha, etc.)
• Associate of the Society of Actuaries or Fellow of the Society of Actuaries is required.
- Fellow status of actuarial institutes in other countries, e.g., the UK, Australia, etc., is also acceptable.
• The Japanese Language is a plus.
【Job Knowledge & Skills】
• Broad knowledge of actuarial principles, practices, and concepts.
• Excellent oral, written, interpersonal communication, and team facilitation skills to effectively interact with senior management and internal and external stakeholders.