Manager, Actuarial Pricing

Job Responsibilities

• Supporting Head on pricing model development, formulating pricing assumptions, review marketing collaterals, and perform profit / sensitivity test.
• Identify inefficiencies in pricing tools and implement appropriate enhancements.
• Collaborate with other departments in product development process and manage the requirement from all stakeholders related to product pricing.
• Well versed in regulatory guidelines and industry guide.
• Ensure accuracy in pricing models, assumptions and profit test results.
• Ensure the profitability and other financial measures meet internal requirements.
• Review marketing collaterals to ensure accuracy and compliance with regulatory requirements.
• Ensure timeliness and accuracy in regulatory submission in accordance with BNM guidelines.
• Participate in product development process, adding value to the product innovation by recommending product design with understanding in Shariah principles for Family Takaful products.
• Liaise with Retakaful on Retakaful quotation & treaty for new product & group business.
• Review and update internal policies ensuring current practice is well documented.

Retakaful

• Ensure bordereaux, statements to RTO and other Retakaful reports prepared timely and accurately.
• Provide support and advice on Retakaful to other colleagues in Pricing and other departments.
• Perform analysis related to Retakaful.
• Review draft treaties and addenda.
• Provide clear and accurate system development requirement on Retakaful to the system developers.
• Enhance Retakaful calculation and bordereaux preparation process.

Product Implementation

• Supporting the development of Product illustration system and administrative system to enable successful product implementation.
• Guiding junior staff in developing calculators to minimize manual calculations performed by Pricing.
• Involve in system migration.
• Provide clear and accurate system development requirement to the system developers.
• Ensure all scenarios are covered during the UAT.

Managerial Duties

• Providing guidance, coaching, and training to junior level staff.
• Managing the work task and deliverables of the junior level staff.
• Basic to intermediate level decision-making.

Job Requirements

University degree in actuarial science or equivalent.

Making good progress in professional examinations.

Prefer to have at least five years experience with insurance or Takaful company.

Product management & cash flow, reserving and risk-based capital for Takaful/Retakaful, Takaful Model.

Good analytical and time management skill.

Good coaching skills.

Team player, good communication skills.