Director, Pricing

Position Objective:
The main objective of the Director, Pricing role is to effectively manage and lead the Pricing function within the organization. This includes overseeing a range of key objectives such as product pricing, product filing to regulatory bodies, in-force management, and compensation, and providing support for new business initiatives. The individual in this position will play a crucial role in ensuring accurate and profitable product pricing, compliance with regulatory requirements, efficient management of existing policies, and support for business growth through strategic analysis of new opportunities.
Responsibilities:
A. Pricing Function:
- Conduct product pricing and profitability stress testing for new products as well as annual reviews.
- Lead the implementation of pricing systems based on product specifications.
- Perform system scenario testing including User Acceptance Testing (UAT) for products and Benchmarking, Benchmark Quality Assurance Testing (BBQ) for systems.
- Provide support for system corrections and Phase 2+ system improvements.
B. Product Development:
Internal Deliverables:
- Perform risk assessments for new products.
- Conduct portfolio studies including analysis of age and gender distribution, A/E and loss ratios.
- Develop product manuals in accordance with Global Chubb's Actuarial Standard of Practice (ASOP).
- Prepare profitability reports, such as VNB (Value of New Business) and utilize Prophet modelling.
- Coordinate reinsurance arrangements and collaborate with the Claim Loss Reserve Committee (CLRC).
MOF Filing:
- Prepare technical notes, tariff plans, and BBQ-number submissions for filing with the Ministry of Finance (MOF).
C. In-force Management and Compensation:
- Analyze and manage in-force block data to support the persistency committee and claim committee.
- Review and propose changes to the compensation scheme.
D. New Business Support:
- Analyze products and provide financial reviews for new sales channel and partner opportunities.
- Support special projects as assigned.
E. Management and Support:
- Lead and manage the Pricing team, taking full responsibility for the Pricing function.
- Engage with higher management levels to address human resource needs and address significant issues to enhance the Pricing function.

Insurance
,#Up to 23 days
,#Annual company trips

Pricing Strategy, Product Pricing, Team Management, Strategic Planning