RCS Consultant, Singapore
Job ID#: 22514
Location(s): Singapore
Segment Risk & Financial Services
Business Area Risk Consulting & Software
Employment Status: Regular Full-Time
Minimum Education: Bachelors Degree
Minimum Experience: 3 years
The Company
Go beyond.At Towers Watson, we are more than individuals. We are a community focused on helping our colleagues and clients thrive and succeed. Towers Watson is a leading global professional services company that helps organizations improve performance through effective people, risk and financial management. With 16,000 associates around the world, we offer consulting, technology and solutions in the areas of benefits, talent management, rewards, and risk and capital management.
The Business
Towers Watson's insurance consulting business helps clients improve business performance. We use our deep analytical skills to solve practical business problems, applying the latest techniques and software solutions to help clients measure and manage risk and capital, grow revenue and create competitive advantage.
Our Risk Consulting and Software practice advises insurance companies and other financial institutions on financial management, risk and capital modelling, regulatory matters, M&As and strategy.
Our General Insurance Consulting team offers services in a range of areas including: premium rating and product design, claims reserving, dynamic financial analysis, enterprise risk management, M&A valuations and strategy. We have various software products that underpin this advice including our very own proprietary software.
The Role
As a General Insurance Consultant you will work on project teams focused on performing reserve studies, pricing and capital management activities for insurance companies, reinsurance companies, self-insured clients, and regulators. You will be responsible for a range of tasks from data analysis to developing findings, presentations and reports. You will work closely with a variety of consultants and project managers who will help you increase your general insurance knowledge and sharpen your actuarial skills – all while providing a blend of client facing skills as well.
You will contribute to varied and interesting projects across Asia such as:
•Mergers, Acquisitions and Restructuring– Due diligence, support in sales and capital raising, corporate restructuring and rehabilitation, reinsurance and financing alternatives
•Pricing and Product Development– Overall rate indications, GLM/predictive modelling introducing new rating variables, product design for new coverages
•Financial Valuations and Regulatory Reporting– Reserve analysis of varied products for insurance and reinsurance companies across Asia, stress testing, regulator interactions and research
•Enterprise Risk Management– Enterprise risk assessment, financial risk modeling, capital management, and reinsurance optimization
•Self Insurance and Captives– Valuation of liabilities, risk retention and optimization, captive/self insurance feasibility studies
Performance Objectives:
Excellence
• Work collaboratively with other associates and consultants to determine initial data needs, examine obtained client information and perform any follow up work required to populate complete information sets
• Develop a strong understanding of the General Insurance industry and become familiar with the data, information, insurance operations, and various steps needed for reserving, pricing and capital management activities
• Seek and participate in key learning and development opportunities/maintain steady progress through actuarial exams
• Prepare reports and presentations for review by senior consultants
• Manage your time effectively between multiple assignments at a time
• Maintain and develop own technical and industry knowledge throughout Southeast Asia
• Contribute to the development of our product and service offerings.
• Meet or exceed Towers Watson performance standards for financial reporting, revenue generation, financial management, client relationship management and work quality.
People
• Build strong relationships internally and collaborate effectively on cross-functional teams
• Demonstrate natural ease and effectiveness when dealing with clients/colleagues at all levels
Clients
• Support senior consultants to ensure that projects are appropriately defined, pitched and resourced to enable maximisation of revenue potential along with high quality and efficient delivery
• Deliver work in accordance to project deadlines, conducting client communications
• Serve as the project manager on projects:
- Creating project plans
- Monitoring progress to deadlines and budget
- Understanding client requirements and deliverables
- Scheduling and managing regular status meeting calls
- Ensuring appropriate and effective communication among
team members and the client
• Deliver on projects to meet or exceed client expectations
• Increase efficiency within client teams by identifying ways to improve processes
Financial
• Meet chargeable hours targets
• Contribute to sales and marketing efforts by drafting proposals, responding to client RFPs, winning follow on work and identifying and passing on new business leads
The Requirements
• Strong analytical and integrative skills
• Strong written and oral communication skills
• Actuarial exam progress towards FCAS,FIAA,FIA and/or other actuarial credentials.
• Excellent Microsoft Office skills, particularly in Excel (including VBA)
• Experience (approximately 3-5 years) in an insurance company or actuarial consultancy, in the field of General Insurance
• Knowledge of statistical tools such as R/ SAS/ S preferred
• Well organized and detail oriented
• Experience of coordinating projects
• Ability to respond to all communications effectively and in a timely manner
• Flexibility and proven ability to diagnose and resolve issues; strong client service orientation
• Interest and ability to think beyond the task at hand and understand how one’s work fits into the broader landscape
• Ability to draw conclusions and identify trends from data in a logical, systematic way
• Self driven achiever with a value for teamwork, collaboration, decisiveness, integrity in all that is done
• At ease working both independently and on client teams and enjoy a fast-paced environment
• Minimum Bachelors Degree required (preferably in Actuarial Science, Statistics, Mathematics, Finance, Economics or other related field)