About FWD Group
FWD Group is a pan-Asian life insurance business with more than 13 million customers across 10 markets, including some of the fastest-growing insurance markets in the world. The company was established in 2013 and is focused on changing the way people feel about insurance. FWDs customer-led and digitally enabled approach aims to deliver innovative propositions, easy-to-understand products and a simpler insurance experience.
For more information, please visit www.fwd.com
FWD Technology and Innovation Malaysia Sdn. Bhd., known as FWD TIM, was set up in late 2019 and is part of the FWD Group. FWD TIM in Malaysia is one of the FWD Groups office locations serving multiple markets within FWD Group and employing team members in various functions including Group Digital & Data, Digital Innovation, the IT Hub and our Centre of Excellence comprising Actuarial, Finance and Product Proposition functions.
PURPOSE
Be the country focal in coordinating incoming modelling service requests and manage the development and maintenance of the centralised Actuarial models for business units (BUs). Be the project lead and manage end-to-end major projects as required by Group Actuarial / BUs. Ensure compliance with the Group Model Governance policy.
KEY ACCOUNTABILITIES
- Assist Senior Advisor or SME by providing technical and other general support or coaching to shared pool resources to ensure work quality is achieved accordingly.
- Support the Country Model Lead in providing the Centralised modelling services to business units by:
assisting the Country Model Lead in managing the development and maintenance of the centralised Actuarial models for business units, and ensure quality and on-time delivery;
demonstrating advanced skills in Prophet modelling in the overall end-to-end modelling process and ensure that the modelling is effectively controlled and maintained, with accurate financial results generated;
becoming the country focal in coordinating incoming modelling service requests. Manage updates, communication and project expectations with BUs throughout the project delivery and ensure successful implementation according to the defined Prophet modelling services;
exercising judgement using advanced analytical skills to perform modelling checking and regression tests, interpret, define and communicate model change impacts and mitigation actions, as well as maintain model documentations for stakeholders;
analysing the modelling issues and reporting findings including practical recommendations to close relevant gaps or risks. Escalate modelling issues to the Country Model Lead on a timely manner; and
assisting the Country model Lead in performing compliance checks and ensuring all time compliance with the Group Model Governance policy including the model documentation, modelling processes and controls.
- Support the SME & Model Reviewer by:
conducting an in-depth model review on models changes made by Big 3 BUs: HK, TH, JP and any other assigned countries
conducting independent reviews of developed actuarial models in accordance to established governance standards, and ensure models compliance and overall controls;
exercising judgement using established practices and skills to perform technical review of actuarial models and validation results, and identify potential risks and issues throughout the review process; and
preparing finding reports on modelling review results and propose action on the outlined gaps.
- Be the project lead and manage end-to-end major projects for Actuarial services including but not limited to developing and maintaining ALS model for asset and liability management, economic capital (EC), HKRBC reporting, IFRS17 and any other assignment from Group Actuarial
- Process the major requests/incidents, while guiding juniors on their BAU incidents for Prophet Enterprise and related calculation engines on
KEY PERFORMANCE INDICATORS
Effectiveness of the model maintenance process and project delivery
Engagement and development of team members
Value added to local business units
EXTERNAL & INTERNAL CONTACTS
Group Risk and Actuarial Committee, ALMCO Committee and IFRS17 Project Steering Committee
Local Country CA, CRO, investment/ALM teams and function head
Head of TIM Actuarial and Senior Actuarial Advisor in TIM
DECISION MAKING
In accordance with Insurance Group delegated authorities
QUALIFICATIONS / EXPERIENCE
5 to 6 years insurance experience in actuarial functions
Bachelors degree (or equivalent) in Actuarial Science or other Mathematics/Statistics based major
Nearly fellowship member of an internationally recognised actuarial professional body
KNOWLEDGE & TECHNICAL SKILLS
Strong Prophet modelling skills, knowledge on Prophet ALS is preferred
Good understanding of valuation processes under USGAAP, statutory and traditional EV, knowledges on EC/RBC and IFRS17 are preferred
OUR COMPETENCIES
Good team leadership and development skill
Good Facilitation, negotiation and problem resolution skills
Good Strategic Thinking: Ability to prioritize and balance multiple tasks or project.
Strong analytical skills
Good communication and presentation skills
Fluent in English speaking and written skills
OTHERS
Flexible to travel
