Job Description

FIND YOUR 'BETTER' AT AIA If you believe in better, we'd love to hear from you. WE ARE LOOKING FOR Interns to the Actuarial Department will be assigned various actuarial projects during their internship. AIA Singapore carries a wide range of li FIND YOUR 'BETTER' AT AIA If you believe in better, we'd love to hear from you. WE ARE LOOKING FOR Interns to the Actuarial Department will be assigned various actuarial projects during their internship. AIA Singapore carries a wide range of life insurance products and has a wide range of distribution channels. The Actuarial department is responsible for functions such as pricing (new products, compensation to distribution channels, vitality program), valuation of liabilities, capital management, economic capital, asset and liability management, managing profitability of the in-force business, experience studies, financial reporting on various basis and reinsurance. Interns will be assigned to one or more of the following projects (e.g. experience studies or cashflow checking on new products) during the Program depending on suitability, interest and timing (as projects are scheduled during different parts of the year). Corporate Actuarial Functions include: Capital Management / ALM / Financial reporting / Cashflow Modelling / Experience studies Nature of work: Capital Management / ALM Perform controls and investigations on financial projection / valuation results Assist in making enhancements to the reporting processes Support the Par Fund Management through assisting in the investigation of the par fund, review of bonus scales, and communication to Par policyholders and distributors Support the valuation of policy liabilities, solvency monitoring, stress testing, ALM analysis Assist in preparation of external reports to parties such as MAS, CPF, LIA, MOH etc Perform user acceptance testing (UAT) for system enhancements Financial reporting Assist in making enhancements to the reporting processes Support the actual production of financial results, e.g. preparing data for Prophet runs, performing Prophet runs, extraction of results into Excel, etc Assist in preparation of management reports on financial performance metrics such as Embedded Value, IFRS profits, Value of New Business Assist in the preparation of internal management reports such as business statistics, reports to monitor the economy Cashflow modelling and Prophet model maintenance Support the modelling of policy cashflows in Prophet Perform cashflow checking of new products that are modelled in Prophet, to ascertain the accuracy and reasonableness of the models Implement enhancements to the Prophet model and perform regular model integration with the Group central Prophet model Experience studies Assist in the preparation of quarterly / annual experience studies and analysis of trends in experience to support the Chief Actuary / Appointed Actuary's decision-making process in setting assumptions Perform detailed analysis into areas that are identified as high risk, to pin-point the key drivers of poor experience, and provide insights to the business on potential hotspot areas or causes Prepare management reports summarizing key experience trends for communication to key stakeholders such as Exco