Associate Analyst/Analyst, Life Insurance and Inclusive Insurance | Financial Development and I[...]

Bank Negara Malaysia; Kuala Lumpur; On-site; MYR 30,000 - 50,000; Full time

Job summary

A leading financial regulatory body in Malaysia is seeking an Associate Analyst/Analyst for Life Insurance and Inclusive Insurance. This role supports the development of policies and strategies for the insurance sector, focusing on inclusive insurance and financial stability. Candidates should possess a bachelor’s degree in finance or related fields with preferably 1 year of experience in economics or insurance, and good understanding of central bank functions. This position is based in Kuala Lumpur and offers opportunities for professional growth.

Qualifications

• Bachelor’s Degree or professional qualification in accounting, economics, banking, risk management, law, actuarial science, computer science or finance.
• Preferably 1 year of working experience in finance, economics or insurance.

Responsibilities

• Conduct research on strategic areas to develop an efficient insurance sector.
• Assist in developing policies that promote inclusive insurance.
• Recommend policies to enhance insurance sector infrastructure.
• Collaborate with government agencies to elevate insurance system architecture.
• Stay updated on market developments in the insurance sector.

Skills

Research

Collaboration

Policy formulation

Market analysis

Education

Bachelor’s Degree or professional qualification in relevant field

Job description

Associate Analyst/Analyst, Life Insurance and Inclusive Insurance | Financial Development and Innovation (FDI)

Assist in the formulation and execution of policies, strategies and initiatives that support the orderly development of the financial services industry, with a focus on the life insurance sector, in alignment with economic needs and financial stability objectives.

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.

• Conduct research on strategic areas that would enhance the overall development of an efficient and effective insurance sector, mechanisms and legislation.
• Assist in the development and implementation of policies, strategies, and initiatives that promote inclusive insurance (including efforts to enhance insurance penetration) and support the sustainability of the financial services industry.
• Make recommendations leading to formulation of policies and strategies to develop new or enhance existing insurance sector infrastructure, delivery channels and systems.
• Engage in collaboration with other Government agencies to undertake initiatives aimed at elevating the insurance system architecture in the areas of legal framework, market infrastructure and use of financial services.
• Keep abreast with market developments in the insurance sector, and propose recommendations on how these external/internal achievements can be replicated to the benefit of the domestic market.
• Identify efforts that can be initiated/jointly initiated with the insurance industry to promote a more orderly and efficient systems and market infrastructure.
• Engage in collaboration with internal as well as external stakeholders to support the Government in achieving its socio-economic objectives in the areas such as healthcare and pensions or to undertake initiatives to elevate the effectiveness or efficiency of financial services.
• Identify efforts relating to development of policies to elevate service quality of insurance service providers and to enhance the role of financial intermediaries in supporting the growth of insurance industry, and towards raising the professionalism of intermediaries towards achievement of Blueprint recommendations.
• 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 finance, economics or insurance with good understanding of central bank functions and the insurance sector.