Sun Life offers products and services in insurance, retirement, and investment so their clients can achieve lifetime financial security and live a healthy life.
Actuarial Manager IFRS 17 Asia
Hong Kong- Taikoo Shing

At Sun Life, we work together, share common values and encourage growth and achievement. We offer many career paths that attract a wide variety of talent and skills. Follow a path that lets your talents shine.

Job Description:

Reporting to the Director, Actuarial Service Centre, Asia, this role is accountable for providing actuarial support to the Sun Life Asia Regional Office IFRS 17 team, including development of IFRS 17 policy and supporting various Asia Business Unit (BU) in implementing IFRS 17 into their valuation model and process. The role will also provide support to the Director of ASCA in managing a team located in Manila to provide actuarial modelling support and expertise to the Asia BU.

Major Responsibilities:

IFRS Implementation:
  • Support the Director and AVP, ASCA in drafting and reviewing the IFRS 17 Policy Paper in interpreting the IFRS 17 standards and assessing how it applies to different Asia business and products
  • Help to produce and review IFRS 17 pro-forma financials for different Asia business and products, and make sure the results are as expected
  • Understand the financial implication of IFRS 17 implementation, prepare the comparison analysis for various financial metric (e.g. actuarial liability, profit emergence, etc.) between IFRS 4 and IFRS 17
  • Provide support to Director and AVP, ASCA in reviewing the results with BU stakeholders, ensuring awareness and understanding of the IFRS impacts and having the dialogue around business opportunities and challenges
  • Bring in the product knowledge to support the IFRS 17 actuarial model implementation exercise for various Asia business
  • Identify and understand the data and process gap when implementing IFRS 17 for different type of business
  • Work with the modeling analyst to develop test plans reflecting the unique product characteristics, to augment the standard pre-defined test plans that enable assessment that IFRS 17 actuarial models are coded correctly
  • Support BU in performing IFRS 17 related assessment and work
  • Support the Director and AVP, ASCA in preparing and delivering IFRS 17 education to different stakeholders
  • Support in other area of IFRS 17 work as needed: CSM, Management Reports Prototyping work, etc.

Actuarial Service Centre Asia (ASCA):
  • Help the Director, ASCA in managing a small team in Manila to provide support to initiatives taken on by ASCA team, such as
    • improving the robustness of Asia actuarial models and helping to design process and documentation to strengthen the modeling controls and model risk management
    • leading LICAT production work for certain Asia business units including developing procedure and documentation of the end to end production process
    • provide ad-hoc actuarial support to Asia BU, as assigned

Specialized Knowledge/Skills:
  • In-depth knowledge of insurance products in Asia
  • Strong technical actuarial skills with attentive to details
  • Strong communication skills, both verbal and written, particularly in English
  • Ability to solve problems that don't have clear solutions or outcomes, and shift priorities in response to change in circumstances
  • Ability to assess complex issues from multiple angles and evaluate advantages/disadvantages when making recommendations
  • Ability to multi-task with good time management and organization skills
  • Ability to build effective relationships and influence among a broad group of diverse stakeholders
  • Knowledge or previous working experience in current Canadian IFRS 4 is an advantage
  • Knowledge or previous working experience in IFRS 17 is an advantage

Education and Experience:
  • Fellow or near Fellow of a recognized actuarial institute
  • 6+ years of actuarial experience in life insurance industry
  • Experience in actuarial software (GGY AXIS experience is an advantage)

Job Category:

Posting End Date:
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