Assistant Vice President, Actuarial (FCM)

Great Eastern; Kuala Lumpur; On-site; MYR 100,000 - 140,000; Full time

Job summary

A leading insurance company in Kuala Lumpur is seeking an experienced Actuary to oversee financial stability and provide guidance to the team. The ideal candidate will have over 11 years of experience in the life insurance industry along with a strong understanding of actuarial principles and practices. You will play a key role in reviewing capital requirements, mentoring junior staff, and driving compliance with regulatory frameworks. This position offers a unique opportunity to influence the organization’s culture and uphold its core values.

Qualifications

• At least 11 years of working experience in life insurance.
• Passed 90% of actuarial exams from recognized associations.
• Strong grasp of life insurance concepts and actuarial principles.

Responsibilities

• Review and monitor reserve and solvency positions under regulations.
• Oversee annual review of internal policies and ensure SOPs are updated.
• Transfer actuarial knowledge to junior staff.

Skills

Risk analytics

Stakeholder management

Decision-making

Product knowledge

Valuation methodologies

Education

Bachelor's in Statistics / Maths / Actuarial Studies

Job description

Overview

To be the guardian on the financial position of the Company and policyholders reasonable expectations by providing reliable financial information that strategically contributes to the Company’s solvency and return to shareholders.

Responsibilities

• Review and monitor reserve, capital requirements and solvency position of the Company under various regulatory frameworks eg. Malaysia RBC, Singapore RBC2, IC.
• Review relevant reports to internal and external stakeholders such as regulators and internal parties.
• Oversee annual review of internal policies and ensure that Standard Operating Procedure (SOP) are up-to-date.
• Review system set-up and user acceptance testing (UAT) in the relevant policy administration system in valuation data perspective.
• Review UAT for Prophet modelling.
• Review product, compliance & risk assessment.
• Transfer actuarial knowledge, skills and working experience to junior staffs.
• Lead and provide guidance to the team.
• As part of the leadership team, work with key stakeholders to proactively shape the organization’s culture and conduct environment that is aligned to the organization’s Core Values.

Qualifications

• Tertiary – Bach. in Statistics / Maths / Actuarial Studies Professional.
• Passed 90% of actuarial exams in one of the actuarial associations recognised by BNM.
• At least 11 years of working experience in life insurance industry with strong grasps of life insurance concept, Actuarial principles, product knowledge, and cross functional knowledge.
• Competencies such as risk analytics, valuation approaches and methodologies, valuation conclusion and reporting, valuation research and analysis, stakeholder management, Standard Operating Procedures development, customer orientation (internal & external), decision-making, developing people, developing self and exploring possibilities.

How you succeed

• Champion and embody our Core Values in everyday tasks and interactions.
• Demonstrate high level of integrity and accountability.
• Take initiative to drive improvements and embrace change.
• Take accountability of business and regulatory compliance risks, implementing measures to mitigate them effectively.
• Keep abreast with industry trends, regulatory compliance, and emerging threats and technologies to understand and highlight potential concerns/ risks to safeguard our company proactively.

Who we are

Founded in 1908, Great Eastern is a well-established market leader and trusted brand in Singapore and Malaysia. With over S$100 billion in assets and more than 16 million policyholders, including 12.5 million from government schemes, it provides insurance solutions to customers through three successful distribution channels – a tied agency force, bancassurance, and financial advisory firm Great Eastern Financial Advisers. The Group also operates in Indonesia and Brunei.

Great Eastern Life Assurance Company Limited and Great Eastern General Insurance Limited have been assigned the financial strength and counterparty credit ratings of "AA-" by S&P Global Ratings since 2010, one of the highest among Asian life insurance companies. Great Eastern’s asset management subsidiary, Lion Global Investors Limited, is one of the leading asset management companies in Southeast Asia.

Great Eastern is a subsidiary of OCBC, the longest established Singapore bank, formed in 1932. It is the second largest financial services group in Southeast Asia by assets and one of the world’s most highly-rated banks, with an Aa1 rating from Moody’s and AA- by both Fitch and S&P. Recognised for its financial strength and stability, OCBC is consistently ranked among the World’s Top 50 Safest Banks by Global Finance and has been named Best Managed Bank in Singapore by The Asian Banker.