Steven Chen is a Principal in the Toronto office of Oliver Wyman Actuarial Consulting. He specializes in the life insurance industry and works in many aspects of life insurance and actuarial consulting, including risk management, valuation and financial management, variable annuity reserving and hedging, and mergers & acquisitions.
Steven's professional experiences include:
- Led the implementation of liability-driven benchmark using a portfolio replication approach for the Enterprise Risk Management department of a Fortune 500 insurance company
- Seconded at OSFI (the Canadian federal regulator for banks and insurance companies) for one year to review the risk management and actuarial functions of large Canadian insurance companies
- Developed stochastic interest rate model and reviewed economic scenario generators for equity, interest rate and bond returns
- Assisted the regulator to review and understand variable annuity reserve methodology, cash flow projection models, key assumptions, dynamic hedging effectiveness and capital adequacy
- Functioned as the project manager and advised on the strategic rationale for a bancassurance acquisition
- Developed the capital management framework and internal capital target for a reinsurance company
- Developed market entry strategies and risk analysis for an insurer who wanted to start offering wealth management products, priced guarantee investment contract (GIC), deferred annuity and single premium immediate annuity (SPIA)
Steven is a Fellow of the Canadian Institute of Actuaries, Fellow of the Society of Actuaries, a Member of the American Academy of Actuaries, and a Chartered Financial Analyst.