At AIA, our vision is to help people live healthier, longer, better lives by encouraging them to make positive lifestyle changes one step at a time. Our firm belief is that by following our Operating Philosophy of doing the right thing, in the right way with the right people, the results will come. AIA Insurance for Life, Health and Wellbeing.

The Opportunity at AIA

The purpose of this role is to manage and lead the Actuarial Capital function, support development and implementation of AIA NZ’s capital management, contribute to strategic asset allocation reviews and oversee all aspects of actuarial investment reporting, while providing thought leadership and strategic advice to the Appointed Actuary and the broader business.

​ Key Responsibilities:

• Effectively lead and manage the Actuarial Capital function, including leading and coaching staff, managing work flow, strategic planning, developing team knowledge and capabilities etc.
• Effectively lead and manage all aspects of actuarial work within the Actuarial Capital function and, in particular, take ownership for the following:
• Knowledge – keep abreast of the standards and best practice methodologies applicable to the Actuarial Capital function
• Data and models – ensure data, models and related processes exclusively used within the Actuarial Capital function are fit for purpose and meet business needs
• Methodology – ensure that the relevant actuarial methodology (e.g. Target Surplus, Solvency etc.) are appropriate, up-do-date with the relevant requirements and applied correctly in the actuarial work
• Monthly solvency calculations – produce monthly solvency calculations and reporting, while ensuring that the implication of results are understood by the business
• Capital management – contribute to development and implementation of AIA NZ’s capital management strategy, review AIA NZ’s target surplus, assess impacts of strategic decisions on AIA NZ’s risk profile and risk based capital and lead development of AIA NZ’s capital modelling capability
• Reinsurance – As the reinsurance function is within the same team under the Appointed Actuary there may be from time to time reinsurance work to get involved in and contribute to
• External solvency reporting – prepare six monthly solvency return to RBNZ (including projections) and provide information for AIA Group’s reporting
• Rating agency reporting – assist in the preparation of rating agency annual returns
• Improvements – proactively identify opportunities for efficiencies and improvements within the Actuarial Capital function
• Risk management - manage risks allocated to the Actuarial Capital function, ensure that appropriate controls are implemented in line with AIA NZ’s risk management framework and relevant policies and promote and implement effective and sustainable risk culture
• Maintenance of policies – ensure that AIA NZ’s reinsurance and capital management policies are updated annually to reflect changes in regulatory environment and business practices and needs
• Board and other papers – prepare FRC, BARC and Board papers in respect of results produced by the Actuarial Capital function
• Appointed Actuary support – support the Appointed Actuary in meeting statutory requirements (including contribution to the Financial Condition Report)
• Support the Head of Actuarial and their team as and when required

• Effectively communicate and present value-add insights and results to both technical and non-technical audience
• Effectively engage and influence internal and external stakeholders
• Provide thought leadership and strategic advice to the Appointed Actuary and the broader business in respect of the Actuarial Capital function (e.g. risk appetite assessment, capital management strategy, reinsurance strategy, internal capital model, investment strategy etc.) and beyond
• Build and maintain effective relationships Finance and Actuarial and other teams within AIA NZ while providing in-depth financial analysis and actionable business insights
• Demonstrate leadership and proactively take ownership of emerging issues and challenges

Skills and Knowledge

• Proven  strong  business  acumen  and  strategic thinking
• Proven strong leadership and management skills including ability to make decisions, delegate work and direct and develop a team
• Being able to influence senior internal and external stakeholders, including FRC members, Board directors and regulators where necessary
• Keeping abreast of the regulatory and commercial environment and industry best practice
• Being able to identify and assess potential intended and unintended consequences of advice given to the business
• Detailed knowledge and understanding of theory and practice for the Actuarial Capital function and beyond
• Detailed understanding of what the best actuarial practice looks like for the Actuarial Capital function
• Proven experience with DCS, Prophet, Glean, MS Office and specialist capital modelling software

Role Related Experience

• Proven experience in managing and leading teams and projects
• Proven experience in stakeholder management and business partnership
• Proven life financial reporting experience
• Proven experience with developing and using internal capital models to support business decisions and assess risk appetite
• Detailed understanding of NZ life insurance legislative and statutory requirements
• Detailed understanding of AIA NZ’s commercial environment (including products, markets and competitors)

Qualifications

• Tertiary qualification with quantitative background (e.g. mathematics, statistics or engineering)
• Fellow of the New Zealand Society of Actuaries (or equivalent) with a minimum of 5 years post qualification experience
• Comply with continuing professional development requirements and professional standards of the relevant actuarial body

Recruitment Agencies: Our Talent team does not require any recruitment agency support.

Interested Candidates: Apply using the ‘Apply’ button. No emailed applications accepted. For general enquiries only, contact:

Healthier, Longer, Better Lives
At AIA, wellbeing is at our core. We understand that healthy employees are happy employees. That’s why we have a culture of care that promotes wellbeing and flexibility, recharge days, flexible work arrangements and an AIA Vitality membership.  
 
We focus on career development, people development and leadership capability, so that you’ll be nurtured and have every opportunity to reach your full potential.
 
We recognise your efforts and hard work because we understand that everyone in our AIA family is important. When people feel valued, they become more productive and satisfied, and we want you to feel inspired every day.
 
We are an equal opportunity employer that embraces and values diversity and inclusion in our workforce.  We believe that for people to be their best selves at work, they must feel they can be themselves.  We celebrate both our differences and similarities including how we dress, and we trust our employees to dress appropriately and comfortably for their day.

You must provide all requested information, including Personal Data, to be considered for this career opportunity. Failure to provide such information may influence the processing and outcome of your application. You are responsible for ensuring that the information you submit is accurate and up-to-date.