Assistant Manager, TIM Actuarial Services

FWD Group; Kuala Lumpur; On-site; MYR 100,000 - 150,000; Full time

Job summary

A major insurance company in Kuala Lumpur is looking for an experienced Actuarial Services Lead to coordinate modelling requests and manage end-to-end actuarial projects. The candidate should possess strong Prophet modelling skills with 5-6 years in insurance actuarial functions and a relevant bachelor's degree. This role demands excellent analytical and communication abilities, ensuring compliance with governance policies, and contributing to local business units effectively.

Qualifications

• 5 to 6 years of insurance experience in actuarial functions.
• Nearly a fellowship member of an internationally recognised actuarial professional body.

Responsibilities

• Coordinate incoming modelling service requests and manage actuarial models for business units.
• Lead major actuarial projects including asset and liability management.
• Provide technical support and coaching to junior staff.

Skills

Strong Prophet modelling skills

Good analytical skills

Good communication skills

Team leadership

Education

Bachelor's degree in Actuarial Science or related field

Tools

Prophet

Job description

FWD Group (1828.HK) is a pan-Asian life and health insurance business that serves approximately 34 million customers across 10 markets, including BRI Life in Indonesia. FWD's customer-led and tech-enabled approach aims to deliver innovative propositions, easy-to-understand products and a simpler insurance experience. Established in 2013, the company operates in some of the fastest-growing insurance markets in the world with a vision of changing the way people feel about insurance. FWD Group is listed on the main board of the Hong Kong Stock Exchange under the stock code 1828.

For more information, please visit www.fwd.com

FWD Technology and Innovation Malaysia Sdn. Bhd., known as FWD TIM, was established in late 2019. Strategically located in Kuala Lumpur, FWD TIM serves as a pivotal shared service location within FWD Group, providing services to multiple markets across the Group. FWD TIM houses a diverse and talented workforce focused on essential business and technology services such as information security, cloud operations, IT solutions delivery, digital and data, actuarial, finance, investments, and customer service, among many others.

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 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:
  • Assist the Country Model Lead in managing the development and maintenance of the centralised Actuarial models for business units, ensuring quality and on-time delivery.
  • Demonstrate 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.
  • Become 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.
  • Exercise judgement using advanced analytical skills to perform modelling checking and regression tests, interpret, define and communicate model change impacts and mitigation actions, and maintain model documentation for stakeholders.
  • Analyse modelling issues and report findings including practical recommendations to close relevant gaps or risks. Escalate modelling issues to the Country Model Lead on a timely manner.
  • Assist the Country model Lead in performing compliance checks and ensuring time compliance with the Group Model Governance policy including 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 ensuring model compliance and overall controls.
  • Exercise judgement using established practices and skills to perform technical review of actuarial models and validation results, identifying potential risks and issues throughout the review process.
  • Prepare 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.

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.
• Bachelor's 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, knowledge 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 prioritise and balance multiple tasks or projects.
• Strong analytical skills.
• Good communication and presentation skills.
• Fluent in English speaking and written skills.

OTHERS

• Flexible to travel.