Assistant Manager, Actuarial Pricing (Great Eastern Takaful Berhad)

Great Eastern; Kuala Lumpur; On-site; MYR 120,000 - 180,000; Full time

Job summary

Great Eastern in Kuala Lumpur seeks an actuarial pricing professional to support product pricing and ensure pricing meets regulatory and risk management standards. You will develop pricing models, prepare documentation for product reviews, perform UAT, and collaborate with stakeholders to deliver compliant pricing solutions within the business strategy.

The role offers mentorship to junior staff and opportunities to deepen actuarial expertise while aligning with Bank Negara Malaysia regulations

Qualifications

• Bachelor's degree in Actuarial Science, Mathematics, Statistics or related field.
• Good progress in actuarial professional exams.
• 3–5 years actuarial experience with pricing exposure in insurance/takaful.
• Analytical, communication and problem-solving skills.
• Knowledge of insurance/takaful products and financial markets.
• Knowledge of Excel, Word, Macros and Visual Basic.

Responsibilities

• Support pricing in line with Product Pricing Policy and regulatory requirements.
• Prepare pricing assumptions, documentation for pricing reviews, cash flow breakdowns and product docs.
• Ensure product designs comply with regulations and guidelines.
• Assist in UAT and system maintenance for pricing implementations.
• Review marketing materials and perform pricing-related analyses.
• Engage with Product Working Group and external partners on new initiatives.
• Mentor junior staff and develop technical skills.

Skills

Pricing

Actuarial

Analysis

Communication

Excel

UAT

Regulatory knowledge

Education

Bachelor's degree in Actuarial Science, Mathematics, Statistics

Tools

Microsoft Excel

Microsoft Word

Macros

Visual Basic

Job description

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

• 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.
• 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.