Product Pricing, Principal

At AIA, we've started an exciting movement to create a healthier, more sustainable future for everyone. We're looking for a Principal Product Pricing professional to lead a pricing team to deliver pricing projects, with support from the Product Pricing Leadership Team.

About the Role

The successful candidate will take ownership of project delivery by leading and guiding the team on product pricing analysis and financial result optimisation with key risks identified and managed. This involves drafting effective product pricing reports, obtaining support from product approval functions, and implementing system changes and checks to meet the product launch timeline.

Responsibilities:

• Lead a pricing team to deliver product pricing projects that span across product development and pricing of different product lines, in-force repricing, system implementation, and process transformation (70%)
• Project manage the overall project with regular updates to the Product Pricing Leadership Team, seeking support where needed
• Provide technical guidance to the pricing team in product pricing analysis, to support product development, to drive financial result optimization with the implementation of levers identified in Pricing R&D and Product Pricing Strategy, and to formulate risk mitigation strategies
• Oversee and support the pricing team in system implementation
• Secure endorsement/support from product approval functions in AIA HK and the Group office by ensuring that their interests, perspectives, and needs are addressed proactively
• Maintain documentation of all pricing work, and ensure compliance with relevant internal guidelines and standards
• Support the Product Pricing leadership team on Pricing R&D and development/maintenance of product pricing strategy (25%)
• Approve special quotation recommendations from the team (5%)

Requirements:

• Qualified Actuary with at least 8 years of progressive experience working in a direct life insurer, reinsurer, and/or consultancy
• Familiarity with fundamental principles and practices on assumption setting, asset/liability cash flow modelling, ALM, investment, capital management, medical business, and valuation
• Strong understanding of financial and risk-related issues of different product features
• Ability to write reports and communicate verbally on objectives, pricing, financial, and risk management of products with technical functions
• Strong project and team management skills
• Proficient command of spoken and written English; Cantonese/Mandarin a plus