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2022-10-11 |
JobTitle: AppointedActuary
Reportsto: HeadofValuation–Korea
Matrixreporting: HeadofOperationsofRGAReinsuranceCompanyKorea Branch
DirectReports: Valuationteam
KeyRelationships:
¡× KoreaCEO
¡× KoreaHeadofOperations
¡× KoreaHeadofValuation
¡× KoreaHeadofPricing,
¡× KoreaHeadofAdministration
¡× KoreaFinance&AccountingManager,
¡× KoreaBusinessDevelopment,
¡× RegionalCFO
OverallResponsibilities:
¡¤
ProvideleadershiptotheKoreaValuationTeamtoachievedefinedoutcomesinatimelybasis
¡¤
Establisheffectivecommunicationwiththebusinessestoprovidethelocalmanagementteamwiththeinformationtheyneedtocomplywiththelocalregulation.
¡¤
Ensurethevaluationactivitiesincludingassumptionsandmodellingareadequatelymaintained andmeetinternalandexternalreportingrequirements.
¡¤
Development,maintenanceandcontinuedrefinement/improvementoftoolsandprocessesforthe team.
¡¤
Keeptrackofanyregulationchangeandupdate,andeducatetheValuationTeamtoperformaccuratelocalstatutoryreporting.
SpecificDuties&Responsibilities:
¡¤
Oversee the Korea Valuation Team
and be responsible for all aspects of valuationincluding the development of appropriate reporting bases and
actuarial models todeliverresultsrequiredforregulatoryreportingincludingIFRS17andK-CIS.
¡¤
Fulfillthedutiesofthe¡®AppointedActuary¡¯asdefinedinKoreanregulationsforindependentsign-offoflocalreportingincludingtheyearendIFRS17actuarialmemorandum.
¡¤
ProvidetheKoreaValuationTeamwithinsightandrecommendationbasedonexpertiseininsuranceproductsinKoreaforUSStatutory,TaxandGAAPreportingaswellasembeddedvalue,principles-basedEconomicCapital,andORSA.
¡¤ Performexperiencestudiesandactuarialanalysisoncurrentinforcebusinessto
supportvaluationassumptionsettingandbusinessplanning.ThisincludesanannualreviewofbestestimateassumptionsforuseinIFRS17,KICS,LDTI,EVandprinciples-basedEconomicCapital,andfollowingapplicablecorporateguidance.
¡¤ CoordinatewithFinancetosupportquarterlyIFRS17CSMmovementanalysis,K-
ICSinsuranceriskcalculationandreporting.
¡¤
MonitortheKICSCapitalRequirementoftheKoreanbranch,includingmaintenanceofprocessestodeliverrobustmonitoringofcapitalandsolvencypositionsonanongoing basis.
¡¤ Maintaincomprehensivedocumentationrelatingtotheactuarialprocesses.
¡¤
Monitorproactivelyregulatorydevelopmentsandchanges,andadviselocalmanagementoftheimplicationsandbusinessimpact.
¡¤ SupportingtheRegionalHeadofValuation,Asiaonotherinitiatives,asrequired.
Requirements:
¡¤ FullyqualifiedKoreanFellow(FIA-K)
¡¤
FullyqualifiedFellowwithoneoftherecognizedinternationalactuarialassociations(FSA, FIA, FFA,FIAA,
etc.).
¡¤ Atleast10years¡¯relevantexperience.
¡¤ Atleast5years¡¯peoplemanagementexperience.
¡¤
FamiliaritywiththeKoreanmarketandregulatoryenvironment,USGAAPvaluationand/or IFRS17 andK-ICS.
¡¤ KnowledgeoftheProphetorAXISprojectionsystems.
¡¤
Provenpeopleleadershipcredentialswiththeabilitytomotivate,mentorandcreateahigh performing team.
¡¤
Stronganalytical,datamanagementskills,workattitudestodetailsandabilitytomanagemultipleprojectssimultaneously.
¡¤ Ahighlevelofpersonalaccountabilityandintegrity.
ExcellentcommunicationskillsinEnglish–bothwrittenandverbal.
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