Requirements Description and Requirements Team: Regional Product Review / Product Pricing Actuary - AVPLocation: Asia Regional Office, Hong Kong Role Value Proposition Perform independent peer review process for new / repricing products for Asia countries before launch, which includes Review of the appropriateness of product design and identify associated risks / mitigations Review of the appropriateness of all assumptions Review of the profitability key metrics / sensitivity testing Produce a peer review report in a timely manner based on the global template for management's review / signoff Design and implement effective risk controls Review and validate countries' pricing models to ensure adherence to pricing methodology and approach.
Develop deep understanding of countries' statutory basis (reserve and capital regime) and how to reflect / impact in pricing Ensure financials and risks of the products are within the company's appetite and compliant with definitions set by Corporate Office, and consistency between pricing and VNB reporting Work closely with countries on the post-launch monitoring metrics to ensure effective risk controls Coordinate monthly product update meeting between Regional, Corporate and Local Product team Participate in the Regional review of countries' quarterly VNB reporting and annual experience studies Provide actuarial support on ad-hoc project for strategic markets to meet business needs Provide designated countries with actuarial and technical support in product development and product innovation, pricing including modeling and model validation, and reinsurance arrangement Develop and enhance the pricing models and tools for new product initiatives / repriced products for designated markets Provide technical guidance for the Employee Benefits business in Asia Independent peer review process for employee benefit quotes across Asia; review is an active process with the country teams.
Act as a Employee Benefit center of expertise providing technical advice, consultation, professional development and training to local actuarial, finance and underwriting teams Preferred Qualifications / Experience: Pricing experience with strong modeling and technical skills, including Excel spreadsheet (VBA) and actuarial software (Prophet)Solid experience in product design and solution development, with exposure / deep understanding of different line of business (e.g., Life & Saving – Par, Non-Par, Unit-linked, Endowment / Wealth / Health / medical), preferably in multiple Asian markets Group pricing experience is a plus Stochastic modelling experience is a plus IFRS17 knowledge / experience is a plus Work with little and remote supervision from the Regional Office Strong analytic and strategic thinking capabilities Excellent oral and written communication skills with a strong ability to influence and be able to communicate efficiently with senior stakeholders FSA or equivalent credential About Met Life Recognized on Fortune magazine's list of the "World's Most Admired Companies" and Fortune World's 25 Best Workplaces, Met Life, through its subsidiaries and affiliates, is one of the world's leading financial services companies; providing insurance, annuities, employee benefits and asset management to individual and institutional customers.
With operations in more than 40 markets, we hold leading positions in the United States, Latin America, Asia, Europe, and the Middle East.
Our purpose is simple - to help our colleagues, customers, communities, and the world at large create a more confident future.
United by purpose and guided by our core values - Win Together, Do the Right Thing, Deliver Impact Over Activity, and Think Ahead - we're inspired to transform the next century in financial services.
