About the Job
To provide technical support in product pricing and to ensure the key profit criteria is met aligning with company's business strategy, regulatory requirements and risk management frameworks.
Key Responsibilities:
Pricing Framework
- Support supervisor in products pricing complying with GETB's Product Pricing Policy and aligning with regulatory requirements and risk management frameworks.
- Prepare pricing assumptions, Product Development Committee presentation materials, Product Pricing Review Template, sample cash flow breakdown, Product Documentation to BNM and other pricing related documents.
- Ensure product designs are in accordance with regulations and guidelines.
- Assist in product implementation and system maintenance by performing User Acceptance Testing (UAT).
- Review marketing materials such as Certificate Documents, Benefit Illustrations, Product Disclosure Sheet, training slide, etc.
- Perform actuarial calculations and data validations to ensure pricing accuracy.
Actuarial Model Development & Experience Analysis
- Prepare and/or update pricing model for new products / enhancements.
- Assist in preparing for the Annual Product Review and Post Implementation Product Review.
- Carry out annual experience study and relevant analysis to support the derivation of actuarial assumptions. Provide the recommendations based on the analysis results.
- Prepare report and presentation for pricing analysis.
- Assist in competitor analysis and market research.
Stakeholder Engagement
- Active discussion with Product Working Group and other Business units for new product initiatives/enhancement.
- Liaise with Retakaful Operator (RTO) on getting supports for new products/enhancements.
Regulatory & Governance Compliance
- Assist in preparing Bank Negara Malaysia (BNM) Product Documentation and other regulatory submission.
- Ensure that product pricing is in accordance with the regulatory requirements as per Pricing Compliance Checklist.
- Support actuarial documentation processes.
Collaboration & Learning
- Collaborate effectively with the team (internal and external) to deliver high quality work.
- Mentor junior staff by providing guidance in their daily tasks.
- Develop technical and analytical skills through hands-on experience and training.
We are looking for people who
- Possess a Bachelor's degree in Actuarial Science, Mathematics, Statistics, or a related field. Good progress in actuarial professional exams.
- Have a minimum 3 - 5 years of actuarial experience, with pricing exposure in insurance/takaful company.
- Have analytical, communication, problem solving skills.
- Possess knowledge of insurance / takaful products and financial markets, and good understanding of Takaful Principles.
- Relevant knowledge for computer skills – Microsoft Excel, Microsoft Words, Macros and Visual Basis.
- Have a high level of integrity, takes accountability of work and good attitude over teamwork.
- Take initiative to improve current state of things and adapt to embrace new changes.
