Jing Ming Teo, FIA, CERA, FSAS, CFA, CGMA

Experience

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  Deloitte

  May 2017 - Jul 2017

  External Audit Intern

  - Collaborated with engagement teams and played key roles in conducting fieldwork - verifying data on clients' reports and documenting evidence on Deloitte's Engagement Management System. - Conducted entire audit engagements on subsidiaries. - Received the highest performance evaluation (exceeds expectation) from the engagement partner.

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  GREAT EASTERN

  May 2018 - Aug 2018

  Asset-Liability Management Intern (Group Finance)

  Group CFO Office - Asset-liability Management- Produced timely ALM reports to management, including SAA positions, equity risk hedging positions, cash-flow projections for both assets and liabilities, P&L estimations etc. - Quantified basis risk of equity hedging program, using annualized tracking error, statistical beta and correlation through regression analysis. - Created market movement monitoring Excel dashboards using Bloomberg Excel API tools such as BDP, BDH and BQL. - Utilised Excel advanced pivot table tools to enhance existing spreadsheet templates and optimise workflow. Show less

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  GREAT EASTERN

  Jul 2019 - Oct 2020

  Management Associate

  Group Finance - Balance Sheet Management- Capital management, monitoring and optimising of CAR, factoring in RBC2. Mainly responsible for reducing RBC2 C2 asset risk requirements and implementation of Matching Adjustment. - Reviewed, monitored and recalibrated SAA for various funds. - Designed and executed RBC2 initiatives, including asset restructuring, Matching Adjustment portfolios, equity hedging, capital contingency plan etc. - ALM reporting, monitoring cash flow mismatch, market value movements. - Collaborated with stakeholders in Actuarial Valuation, Investment Accounting, Performance Attribution, Investment Management and Risk Management. Actuarial Pricing - Accident and Health (A&H)- Conducted study of lapse and surrender rates for A&H products. - Familiarised with in-force data systems, SAS and Microsoft Access for data analytics. - Investigated and determined factors affecting lapse, surrender and switching rates, including CPF/cash payments, premium reviews, benefit enhancements, quantum of premium increases, competitiveness, age, in-force duration, replacement products etc. Group Internal Audit- Conducted audit on Financial Risk Management function, specifically their Economic Capital (ECap) Model and Stress testing of ECap. - Conducted fieldwork, assessed risks and control measures and provided recommendations. Evaluated the methodologies, model workings, input and output precision and reasonableness. - Deciphered VBA and SQL codes for the internal audit team and provided recommendations. - Assessed SOPs and manuals of major actuarial processes in preparatory work for Actuarial Audit to be outsourced. Show less

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  Lion Global Investors

  Oct 2020 - Dec 2020

  Management Associate

  Intra-group rotation to Great Eastern's asset management subsidiary, LGIFixed Income Management- Collaborated with the fixed income portfolio managers and analysts in daily fixed income activities, credit reviews and market updates. - Assessed the LGI internal credit rating model and provided recommendations during annual review, including use of statistical regression on various technical rating factors. - Imparted understanding of various aspects of capital management to the team, especially from actuarial and liability perspectives. - Initiated discussions between Great Eastern and LGI to address parent-subsidiary process bottlenecks and implement solutions. Show less

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  GREAT EASTERN

  Dec 2020 - Sept 2022

  Group Finance/Actuarial - Balance Sheet and Capital ManagementAsset-liability management- Designed asset strategies and managed ALM mismatch risk for various insurance portfolios. - Proposed effective hedges to improve company profits. Strategic asset allocation- Drove strategic and tactical asset allocation reviews and enhancements to processes and models to support pricing and investment management. Management of financial performance and earnings volatility- Review of accounting classification, portfolio construction and review, analysis of key financial risk, enhancement of hedging frameworks and processes. Treasury- Liquidity monitoring and management, ensured adequate buffer for cash flow needs and optimal deployment of cash. Capital management and optimisation- Monitored, managed and optimised Group capital position to support business planning, product pricing and investment management through risk charge optimisation, portfolio construction, product and hedging reviews. - Matching adjustment management and review. Project management- Regulatory framework consultations/proposals, reporting parallel runs, new ALM strategies etc.Streamlining and documentation/review of policies and procedures Show less Group Actuarial - Balance Sheet and Capital ManagementWorked closely with Actuarial, Finance, Investment and Risk Management to: - Define SAA and TAA limits for Group Asset Liability Committee and Risk Management Committee approvals. - Analyse and mitigate key financial risks, such as asset-liability mismatch risk, equity risk, credit risk, foreign currency risk etc. - Study and monitor hedging frameworks, assessing effectiveness of hedging for equity, liability etc. - Optimise balance sheet and capital positions in RBC2 and IFRS17 contexts. Familiar with Basel Accords, Solvency II, ICS, IFRS9 etc. Coordinated group effort to consolidate capital position in local RBC2 basis, guided colleagues in overseas subsidiaries such as GELM and GEGM, which reported on BNM RBC basis. - Engage pricing and product teams to develop product ideas and suitable backing assets. For example, introduced a new partially rolling long-term investment strategy to support short-term Nonpar Single Premium products, enhancing returns against a backdrop of low interest rates. - Model impacts on CAR, P&L, EaR, RoC to assess and recommend asset allocations for new product tranches, factoring in current yields, asset-liability matching (cash flow, duration etc), capital charges and diversifications.- Establish and lead a Risk Charge Work Group comprising experts from Actuarial, Finance, Investment and Risk Management to optimise capital frameworks and regularly engage MAS to propose regulatory risk solutions. In particular, designed solutions for counter-cyclical adjustments, fund look-throughs, capital treatments for derivatives, fixed income and structured products, group capital framework etc. Show less

  • Manager

    Apr 2022 - Sept 2022

  • Senior Actuarial Analyst

    Dec 2020 - Apr 2022
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  Munich Re

  Sept 2022 - now

  Regional Actuary

  Structured Solutions, Life & Health - Asia Pacific, Middle East & AfricaStrategic - Analyse each market with the local offices to determine possible opportunities. Structuring - Structure each transaction based on clients' needs, taking into account local and group accounting requirements, regulatory environments, capital, tax, volatility and Munich Re's structural advantages. Pricing - Wide range of products covered from traditional life to unit-linked products. - Analyse underlying product features, evaluate assumptions and internal requirements. - Price and/or review the local offices' pricing of transactions, ensuring that all risks are appropriately considered and internal targets are met. - Liaise with local offices, clients, regulators, auditors where necessary. Deal Approval- Thoroughly review and vet transactions. - Collaborate with various internal stakeholders to ensure that their needs are met and facilitate timely and successful approvals. Infrastructure- Ensure that guidelines, standards, templates and frameworks are up-to-date and communicated with all relevant parties. Show less