The SOA Seoul Seminar – Asset Liability Management
The Society of Actuaries (SOA), with support from the Institute of Actuaries of Korea (IAK), invites you to attend the 2023 SOA Seoul Seminar. The Seminar will be conducted in person and taking place in Seoul. Presentation language of this seminar will mainly be Korean, limited 1-2 sessions in English. The SOA looks forward to building a comprehensive and engaging program in 2023.
This symposium will provide a learning and networking platform for seasoned presenters, members and non-members in the Korea region to share their experiences in asset liability management in the capital market, ALM for investment and product strategies, machine learning in the risk profile of liability modeling analytics, challenges and opportunities in the infrastructure, system and professionalism etc.
Don’t miss this opportunity to connect with sponsors, fellow actuaries, and industry leaders. We look forward to your participation at this premier event.
Audience Experience Level: All levels of experience
Target Audience
Actuaries practicing in the South Korea region. Also, all who are interested in gaining a better understanding of ALM practices. Presentation language of this seminar will mainly be Korean, with limited 1-2 sessions in English.
Registration Fee
Thank you to the generous support from our Diamond Sponsor AON. The new registration fee applies to below:
· SOA/ IAK Member: USD50
· Non-Member: USD75
Venue Details
Life Insurance Education & Culture Center Seoul
3/F, Centerpoint Building,
Jongno-gu Saemunan-ro 5-gil 31 (65-dong, Dohyeong-dong)
03173 Seoul, South Korea
Website:
Speakers
· Byung Kwon Choi, Partner, Ernst and Young
Mr. Choi is a Partner in FSO Consulting, based in Seoul. Prior in join EY in 2015, he has worked in life insurance company focusing on risk management and investment. His past projects mainly related to actuarial model & assumption, IFRS17, K-ICS and ALM. Recently, he is focusing on support insurance companies in capital management activities such as capital injection, M&A and so on. Mr. Choi holds a degree in Business Administration from Yonsei University and an MBA from Korea Advanced Institute of Science and Technology in Korea, majoring in Financial Engineering. He is also an ASA CFA and FRM charterholder.
· DongJun Lee, Senior Manager, PwC
Dongjun is a Senior Manager at PwC Hong Kong, he is also a Fellow of Society of Actuaries.
· Douglas Kim, Assistant Vice President, SwissRe
Douglas is the Assistant Vice President of SwissRe. He is a street-smart L&H actuary who is a resilient, creative, and growth-driven person with independent problem-solving skills. With working experience in the L&H client market, I have a profound understanding of complicated dynamics and landscape of both reinsurance and life & health insurance industries in Korea. He has practical knowledge and experience in designing and implementing IFRS17 end-to-end systems architecture with a high level of communication skills with business units as well as other back office functions such as finance or risk management.
· Genghui Wu, Chief Business Officer, Prudential
Mr. Genghui Wu currently serves as Chief Business Officer for Prudential, where he supports the reshape and the execution of Prudential’s strategic business growth in China. Mr. Genghui Wu has more than 20 years’ experience as a respected business executive in the financial service industry across the US, Canada, and Asia markets, with leadership roles across operation, marketing, product, actuarial, investment, finance, and risk management. Mr. Wu also served as the Chief Investment Officer for Prudential US Life & Annuities Assurance Company with overall P&L responsibility and Asset / Liability Management leadership for over US $40 billion AUM across multiple general accounts and separate accounts, as well as ongoing efforts to improve investment results and return on risk capital across multiple business segments. Mr. Wu is a Fellow of Society of Actuaries (FSA), a Chartered Financial Analyst (CFA), and a Financial Risk Manager (FRM).
· Jaemin Lee, President, The Institute of Actuaries of Korea
Mr. Lee is the 25th and 26th President of the Institute of Actuaries of Korea and an Auditor General of HANA INSURANCE Company has spent nearly 30 years in the financial supervisory authority of the Republic of Korea, the Financial Supervisory Service. He also has served as director and executive director of the Actuary and the Dispute Settlement Department. Throughout his career, he has played an important role on establishing the Korean laws and regulations regarding actuarial procedure. Let’s welcome Mr. Lee on stage.
· Kyung Suk Lee, Head of Life & Health, Munich Re Korea
Kyung Suk currently the Head of Life and Health at Munich RE Korea. Kyung Suk is a Fellow of Society of Actuaries (FSA) and CERA charter holder.
· Mi Namkung, Partner, PwC
Mi is a Partner at PwC Hong Kong Financial Services, bringing more than 20 years of extensive advisory experience in the insurance sector. She has held positions in accounting firms and in-house roles in Hong Kong and Korea, specializing in insurance. Mi has been at the forefront of driving transformations for insurance clients, particularly in response to regulatory changes such as IFRS17, HKRBC, ICS, Solvency II, and KICS. Throughout her career, Mi has successfully led numerous IFRS17 projects in Hong Kong and the wider Asia region. Her responsibilities have encompassed various critical aspects, including methodology development, technical specifications, data and system design, model and system development, testing and validation, transition planning, and execution. She has collaborated with various IFRS17 system solutions, ranging from vendor solutions such as SAS, SAP, and Aptitude, to in-house developed solutions. In addition to her insurance advisory expertise, Mi possesses a diverse background in financial reporting. She has been involved in audit assignments and provided guidance on embedded values (EVs) and mergers and acquisitions (M&A). Her involvement spans due diligence reviews, post-deal advisory services, and actuarial model reviews for life and nonlife companies in Asia.
· Mingwan Soh, Director, Aon PathWise Solutions Group
Mr. Mingwan Soh currently serves as Director for Aon PathWise Solutions Group, where he supports implementations of ALM and Hedge system for clients and is consulting ALM and Hedging strategy for clients’ goals which are economic capital and regulatory capital requirements.
Mr. Mingwan Soh has more that has more than 15 years’ experience as a specialist in the financial services industry, banking and insurance. He started his career at a derivative trading desk of banking section. After moving into the insurance industry, he built in-house GMxB Hedge system including ESG (Economic Scenario Generator). He operated hedge programs with derivatives trading and analyzed hedge results more than 8 years. In Aon PathWise, he has been working as ALM and Hedging specialist.
· Taik Ki Lee, Managing Director and Head, AON PathWise Solutions Group (PSG), APAC
Taik Ki is the managing director and head of AON PathWise Solutions Group (PSG) for the APAC region. He has over 16 years of experience in the insurance industry at major life insurance companies in both Korea and Canada. Prior to joining AON PSG, he worked at Kyobo Life in Korea where he led many projects such as VA product development, VA hedging implementation, and IFRS17 liability valuation. He also has extensive experience in economic capital at both Sunlife and Manulife in Canada. Taik Ki is a Fellow of the Society of Actuaries and holds MSc. Degree in Statistics with Actuarial Science concentration from Western University in Canada.
Thank you to our 2023 Sponsor
Diamond Sponsor
Presenter(s)
Genghui Wu FSA,FCIA,MAAA
N/A
Kyungsuk Lee FSA,CERA
Head of Life
Munich Reinsurance Co
Taik-Ki Lee FSA
Aon
Young Il Aan
Key Account Officer
Swiss Re
Byung Kwon Choi ASA
Mingwan Soh
Director
Aon
Deok Jung Kim FSA
Swiss Re Korea
Dongjun Lee FSA
Mi Namkung
Pricewaterhousecoopers
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Registration
Registration Fees
|
SOA/IAK Member |
$50 |
|
Non-Member |
$75 |
Payment Information
- Register online, via credit card, no later than September 4, 2023.
- A confirmation of your registration will be sent by email.
- Full payment is required at the time of registration.
- For information regarding check payment, please contact Customer Service. Please allow 10 days for receipt and processing of checks.
- Order confirmations are emailed upon completion of registration. Mail-in registration confirmations are emailed after the order has been processed. If you do not receive a confirmation, please click here, select "View Order History" and log in to confirm your order was placed. To request another copy of the confirmation order or to update the registration form, please contact Customer Service at customerservice@soa.org. By e-mailing customerservice@soa.org, you may make changes to your registration until August 18, 2023.
Cancellation Policy and Process
- To cancel an order, please contact customerservice@soa.org.
- The SOA reserves the right to cancel any seminar if conditions warrant. In the event of such cancellation, registration fees will be refunded in full. We are not responsible for any discounted airfares or hotel penalties that an attendee may incur due to cancellation.
- An attendee may transfer his/her registration to another individual without a processing fee; however, the transfer must occur within the same meeting or seminar.
Notes
- The SOA is considered a not-for-profit corporation in Canada and therefore needs to collect applicable taxes on virtual seminars. Based upon your primary residency or company address, the appropriate tax will automatically be calculated for you (5% GST, PEI 14%, NB, NL, ON 13%, NS 15% GST/HST) during the online registration process.
- If you do not receive instructions for accessing the virtual seminar by the day prior to the event, please contact the SOA Customer Service Center at +1-888-697-3900 or via email at customerservice@soa.org with the name of the program.
Continuing Professional Development Credit
The SOA Continuing Professional Development (CPD) Requirement was effective on Jan. 1, 2009, and members must report compliance annually as of each Dec. 31. Members must meet the Basic Requirement provisions of Section B or one of the Alternative Compliance provisions of Section C of the SOA CPD Requirement in order to be deemed compliant.
The sessions at this seminar meet the basic SOA requirements and may be suitable to meet the provisions of an Alternative Compliance standard (please consult the appropriate standard).
Below is the maximum number of credits you could receive, based upon your attendance.
- 5.50 credits (including 1 Professionalism CPD credit) may be applied toward the “Qualification Standards for Actuaries Issuing Statements of Actuarial Opinion” and the “SOA Continuing Professional Development Requirement.”
- 4.58 creditsmay be applied toward “The Canadian Institute of Actuaries Qualification Standard—Continuing Professional Development.”
Ultimately, it is the member’s responsibility to make a reasonable, good-faith determination as to whether a continuing professional development event meets the CPD Requirement.
For further information on these requirements, visit SOA.org.
U.S. Qualification Standards
The Qualification Standards for Actuaries Issuing Statements of Actuarial Opinion in the United States took effect Jan. 1, 2008, and were developed by the American Academy of Actuaries’ Committee on Qualifications on behalf of the five U.S. actuarial organizations.
The SOA believes that sessions at this meeting may be suitable for filling this requirement as continuing education under the U.S. Qualification Standards. Ultimately, it is an actuary’s responsibility to make a reasonable, good-faith determination of what continuing education opportunities will enhance his or her ability to practice in a desired field.
For further information on this requirement, please visit the https://www.actuary.org/content/us-qualification-standards
Contact Us
If you have any concerns or questions, please contact the SOA Customer Service Center Monday through Friday, 8 a.m. to 5 p.m. CT at +1-888-697-3900 or Monday through Friday, 9 a.m. to 6 p.m. Hong Kong Time at +852-2147-5966. You can also e-mail the SOA Customer Service Center at customerservice@soa.org or apac@soa.org.