About FWD Life Philippines 

FWD Life Insurance Corporation (FWD Life Philippines) launched its commercial operations in September 2014. As of end-2022, FWD Life Philippines ranks 3rd and 6th in terms of Paid-up Capital(1) and New Business Annual Premium Equivalent(2), respectively.

FWD Group is a pan-Asian life insurance business with more than 11 million customers across 10 markets, including some of the fastest-growing insurance markets in the world. FWD reached its 10-year anniversary in 2023. The company is focused on making the insurance journey simpler, faster and smoother, with innovative propositions and easy-to-understand products, supported by digital technology. Through this customer-led approach, FWD is committed to changing the way people feel about insurance.

For more information, please visit fwd.com.ph. 

1 www.insurance.gov.ph > Statistics > Life > 2022 > Based on Paid-Up Capital

2 www.insurance.gov.ph > Statistics > Life > 2022 > Based on New Business Annual Premium Equivalent

The Actuarial Manager (IFRS17) for Valuation leads the coordination of the Head of Valuation, Chief Actuary, General Accounting, Investments, and other concerned teams, with the Actuarial Consultants designated by the company with the goal of setting up the end-to-end valuation of reserves of life business for FWD PH’s portfolio under the new IFRS17 valuation standards including the relevant analysis on reserve movements and financial reports. The role is also expected to establish controls and documentation on the end-to-end IFRS17 valuation and reporting process. As needed, the role requires helping the Head of Valuation in completing team tasks/deliverables as part of regular reporting thru ad hoc tasks.

Key Responsibilities:

1. Actively contribute in the implementation of the IFRS17 rollout Plan from FWD Group in coordination with the designated consultants, participating in the actuarial workstreams and coordinating with the Valuation and other Actuarial teams as needed

2. Help develop/test the actuarial models for IFRS17 prepared by the consultants, ensuring the proper classification, treatment, and valuation of the company’s insurance contracts, facilitating the discussions and review of the results by working closely with Group Actuarial and Centralized Model Team where needed.

3. Set up the actuarial valuation and reporting process under IFRS17 together with the Head of Valuation of the rest of Finance team, ensuring that the results flow thru from data inputs/sources (Admin system, investments, accounting) to report generation and presentation. Perform reserve movement analysis and sources-of-earnings, and clearly explain results and drivers to both technical and non-technical audiences, including establishment of robust controls and documentation around the IFRS17 valuation process

4. Delivers the assigned tasks on the regular submissions for regulatory reporting (e.g. AVR, Annual Statement, RBC, etc.) and regional reporting (e.g. IFRS templates, analysis of reports, SOE, etc.)

5. Provide subject matter expertise to pricing and EV teams on insurance product classifications, earnings emergence, setting of pads, and other relevant valuation insights

6. Continuously improve valuation process by streamlining manual processes, DCS automation, etc.

7. Other special projects and ad hoc tasks that may be assigned from time-to-time (e.g., experience studies)

Knowledge and Skills: 

Graduate of Mathematics, Statistics, Actuarial Science, or similar courses

Near Associate or Associate of the Actuarial Society of the Philippines (AASP)

At least five years actuarial experience, preferably in valuation

Has preferably worked in a multinational insurance company

Privacy Notice

Your privacy is a priority for FWD.  The Company keeps your personal information with us in confidence. To know more about how we process your information, kindly refer to our FWD Recruitment Privacy Notice.

FWD has partnered with Talocity Instasolutions Private Limited (“Talocity”) to manage the initial filtering of candidate’s profiles through video interviews, social profile mapping, and video analytics using artificial intelligence engine that is offered within the Talocity platform.  The platform evaluates the candidate on the five well-known dimensions as per OCEAN Personality Model that influence occupational success and help understand workplace behavior. For more information, please refer to Talocity Privacy Policy.

When you apply, FWD will share your name, phone number and email address to Talocity to contact you and conduct the initial screening and profiling process.  Shortlisted candidates will then be contacted by FWD for the face-to-face interview.