Senior Actuarial Analyst  

Responsible for generating actuarial reports required by regulatory bodies, external auditors or internal clients, computing and analyzing actuarial and financial items required for the sound management of the company, and conducting studies that are timely and essential to the company’s goals of leadership, profitability and financial stability.

DUTIES AND RESPONSIBILITIES

• Calculates rates for interim budgeting of actuarial items and review the adequacy of policy cost computations in the monthly Financial Statements.
• Drafts recommendations/reports on industry statistics and other competitive information as inputs to the planning process.
• Prepare regular statistical and financial reports to be reported on management committee meetings as support to sound and effective management decisions.
• Calculates the following actuarial items in preparation of the company’s Annual Statement/Audited Financial Statements:
  • policy reserves
  • net deferred premiums
  • due and uncollected premiums
  • claim liabilities
  • other policy benefit liabilities (dividends, maturity/endowment benefits, etc.)
  • policy loan balances
• Drafts various schedules and exhibits for the company’s Annual Statement as well as other statistical reports required for submission to the Insurance Commission.
• Conducts projection of actuarial and other related figures in support of the company’s planning exercises, asset-liability management and risk management activities.
• Conducts periodic actuarial studies on:
  • mortality
  • morbidity
  • persistency
  • expense analysis
  • corporate / SBU / subunits / branch profitability
  • compensation review
• Carries out the following tasks for accurate and efficient reinsurance administration, for ordinary and group lines:
  • preparation of quarterly reinsurance statements of accounts
  • reinsurance of facultative cases
  • recovery of reinsured claims
  • computation of experience refunds
  • drafting of annual reports on reinsurance summaries and masterlists of reinsured business
  • maintenance and update of reinsurance database files and reinsurance administration systems/programs
  • recommendation of possible improvements in reinsurance administration system and procedures
• Assists in the evaluation and review of current and proposed reinsurance arrangements thru:
  • conduct of retention limit studies
  • review of existing portfolio for changes/revisions in the reinsurance treaty/agreement
  • evaluation and renewal of catastrophe insurance
  • evaluation of reinsurance treaties for renewal or non-renewal of agreement
  • review of the reinsurance support provided by different reinsurers and comparison of the reinsurance rates being proposed

• Proficiency in spreadsheet software and in programming
• Preferably with experience using AXIS Actuarial Software.
• ASP / SOA credits in addition to or in lieu of work experience.
• With 2-3 years experience in a related post.
• Strong analytical and planning skills
• Good communication and presentation skills
• Excellent problem-solving skills