Assistant Vice President, Actuarial Services

5-10 Years

Save

Early Applicant

Job Description

COMPANY

JOB PURPOSE

To support the VP on modelling enhancements, controls and governance process.
To review functional checks, impact analysis and change forms for any DCS/Prophet modelling enhancement, including new product modelling and Prophet coding corrections.
To review and guide junior on annual experience studies on actuarial persistency assumptions to be used in actuarial valuation.
To provide support or provide revision on required ad-hoc duties pertaining to actuarial modelling and valuation requirements.
To act as project manager for assigned internal modelling project plans.
To delegate and review recurring modelling governance tasks such as User Access Reviews and Annual Model Review.
To regularly liaise with external consultant on Prophet model enhancement requirements.
To be a team player and support the MFRS17/ special projects/ NBV division if resources are constraint.
To take up leadership role and guide junior staff on actuarial fundamentals, Prophet modelling functions and reporting requirements such as RBCT, MFRS17 and NBV.

JOB RESPONSIBILITIES

Modelling controls and governance

To initiate and supervise recurring modelling governance and control requirements on a periodic basis.
Preferably to provide input on how to enhance the existing controls to ensure a robust model checking process.
To execute the project independently and provide clear direction to the team.

DCS program and Prophet model maintenance and UAT

To review checks done by the working level on DCS program for any data extraction errors.
To develop and execute a UAT plan to ensure the Prophet model has been enhanced accurately and appropriately.
To review functional checks of the Prophet model development to ensure functionality has been developed up to expectation.
To review impact analysis to assess impact of Prophet model development.
To review monthly change forms for every Prophet model release.

To review and provide input for the persistency experience studies to develop actuarial assumptions to be used in actuarial reserving.

To provide input and recommend enhancements to add value to existing experience study in terms of reconciliation accuracy and efficiency of templates.
To share past experience/knowledge on how to optimize persistency assumptions for appropriate assumption setting.

To support MFRS17/ special projects/ NBV division in the event of resource constraints.

To be a team player and give another set of working hands if other teammates are too occupied with tasks.
To evenly distribute the workload between teams in the modelling division in the actuarial services department.

To guide and teach junior staff and/or fresh graduates on fundamental actuarial skillset

Priority is on Prophet modelling technical skillset.
Secondary is on actuarial fundamentals (i.e.: cashflow projection) and local reporting requirements (RBCT / MFRS17)

QUALIFICATION & EXPERIENCE

Academic

Professional

Experience

5-10 years experience, preferably with prior exposure to actuarial valuation managerial role, hands-on experience with the Prophet software and/or in-depth knowledge of the local Malaysian reporting standards.