Associate Analyst/Analyst, General Insurance and Domestic Capacity | Financial Development and [...]

Bank Negara Malaysia; Kuala Lumpur; On-site; MYR 100,000 - 150,000; Full time

Job summary

A central bank in Kuala Lumpur is looking for an Associate Analyst/Analyst to assist in formulating policies in general insurance. This role involves researching market trends, collaborating with agencies, and contributing to the development of the financial sector. The ideal candidate will have a Bachelor's degree in a relevant field and preferably one year of experience in banking, finance, or insurance. This position supports strategic financial initiatives in Malaysia.

Qualifications

• Bachelor's degree or equivalent in a relevant field.
• Preferably 1 year of experience in banking, finance, or insurance.

Responsibilities

• Assist in policy formulation and strategies for the insurance sector.
• Conduct research and monitor domestic and global insurance market trends.
• Collaborate with government agencies to improve financial system architecture.

Skills

Research and analysis

Collaboration

Understanding of insurance sector

Policy formulation

Education

Bachelor’s Degree or professional qualification in accounting, economics, banking, risk management, law, actuarial science, computer science or finance

Job description

Associate Analyst/Analyst, General Insurance and Domestic Capacity | Financial Development and Innovation (FDI)

Assist in the formulation and execution of policies, strategies and solutions involving general insurance and reinsurance industry, ecosystem infrastructure and legislations to build domestic capacity, promote resilience, innovation and competitiveness among industry players to meet the current protection gaps and changing needs of the economy as well as preserve the orderly development of the financial sector

Bank Negara Malaysia (the Central Bank of Malaysia), is a statutory body which started operations on 26 January 1959. Bank Negara Malaysia is governed by the Central Bank of Malaysia Act 2009. The role of Bank Negara Malaysia is to promote monetary and financial stability. This is aimed at providing a conducive environment for the sustainable growth of the Malaysian economy.

Bank Negara Malaysia’s monetary policy stance is to maintain price stability while remaining supportive of growth. Bank Negara Malaysia is also responsible for financial system stability. This is achieved by developing a sound, resilient, progressive and diversified financial sector which serves to support the sectors of the real economy. It also plays an important function in implementing initiatives to deepen and strengthen the financial markets, including the foreign exchange market.

Bank Negara Malaysia has played a significant developmental role in developing the financial system infrastructure in advancing the financial inclusion agenda. This is to ensure all economic sectors and segments of the society have access to financial services. In addition, Bank Negara Malaysia also oversees the nation’s payment systems infrastructure which emphasize on the efficiency and security of the financial systems.

As the banker and adviser to the Government, Bank Negara Malaysia provides advice on macroeconomic policies and the management of public debt. Bank Negara Malaysia is also the sole authority in issuing the national currency and in managing the country's international reserves.

• Assist in the formulation, recommendation and execution of policies and strategies related to the development of financial institutions, intermediaries, technology players, delivery channels, infrastructure, and systems to improve efficiency and support the long-term development of the insurance sector in line with economic needs and financial stability objectives.
• Conduct research and analysis on strategic areas and emerging developments in the general insurance sector, including large and specialized risks and prepare recommendations that would enhance the overall development of an efficient and effective financial system.
• Monitor and conduct assessments on domestic and global trends in the insurance market as inputs for policy formulation to develop new or enhance existing general insurance infrastructure, delivery channels and systems.
• Conduct research and provide insights on emerging areas in the general insurance and reinsurance sectors, including initiatives to support the growth of digital insurers.
• Collaborate with other Government agencies to undertake initiatives aimed at elevating the financial system architecture in the areas of legal framework, market infrastructure and use of financial services.
• Collaborate and coordinate with internal teams and external stakeholders to assist in implementing initiatives that enhance the effectiveness and efficiency of financial services in alignment with industry needs.

• Academic Qualifications: Bachelor’s Degree or professional qualification in accounting, economics, banking, risk management, law, actuarial science, computer science or finance
• Experience: Preferably 1 year of working experience in banking and finance, economics or insurance with good understanding of central bank functions and the insurance sector.

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