Associate/Assistant Manager, Product Pricing

Great Eastern; Kuala Lumpur; On-site; MYR 60,000 - 90,000; Full time

Job summary

Great Eastern Life Assurance Malaysia invites an actuary to support end-to-end product pricing and premium rating to ensure competitiveness and profitability. You will perform pricing and profit tests, ensure policy/regulatory compliance, and work with teams to implement new product features.

Responsibilities include analyzing data for trends, setting up pricing parameters for new products, and supporting pricing initiatives across channels.

Qualifications

• Bachelor's degree in Actuarial Science with strong analytic foundation.
• Experience with actuarial theories, pricing models and product development.
• Knowledge of statistical tools and programming (SAS/SQL/Prophet).

Responsibilities

• Support end-to-end product pricing process and premium rating.
• Perform pricing and profit tests using established models.
• Ensure compliance with policies and regulatory guidelines.
• Collaborate with internal teams to embed new product features.
• Assist with actuarial pricing parameter setup for new products.
• Analyze data to identify trends and inform decisions.
• Support pricing initiatives across distribution channels through data analytics.

Skills

Good communication skills

Prophet

Data Analysis

Actuarial Knowledge

Product Knowledge

Analytical Thinking

Attention to detail

Customer service

Education

Bachelor's degree in Actuarial Science

Tools

SAS

Visual Basic

SQL

Prophet

Job description

To support end-to-end product pricing process and involve in premium rating process to ensure competitiveness of the products as well as to ensure profitability of the products to meet the required return to shareholders.

• Perform pricing and profit test of products using established models
• Ensure compliance with internal product and pricing policies, processes, profit margins and external regulatory guidelines to obtain approval / filing for product launches
• Work with internal functions to integrate new Individual Life / Accident & Health product features into their day-to-day operational activities
• Assist in handling routine and standard queries from stakeholders
• Assist in the actuarial related pricing parameters set up for new products
• Assist in setting up benefit illustrations programs for system validation
• Play a supporting role in actuarial and pricing related projects and company-wide initiatives
• Analyse and interpret data to uncover trends and establish findings towards adding value to business through making better informed decisions
• Support pricing initiatives across all distribution channels through data analytics
• Takes accountability in considering business and regulatory compliance risks and takes appropriate steps to mitigate the risks.
• Maintains awareness of industry trends on regulatory compliance, emerging threats and technologies in order to understand the risk and better safeguard the company.
• Highlights any potential concerns /risks and proactively shares best risk management practices.

We are looking for people who

• Has a Bachelor's Degree in Actuarial Science
• Knowledge on:

-Actuarial theories, practices and procedures

-Statistical packages or programming (E.g. SAS, Visual Basic, SQL, Prophet)

• Passed or have exemptions in Preliminary actuarial exams in one of the actuarial associations recognised by BNM
• Skillsets & Competencies Skillsets:

-Good communication skills: Written and verbal

-Prophet: Skill in product modeling and projection

-Data Analysis

-Actuarial Knowledge

-Product Knowledge and Development

-Microsoft Words, Excel & Power Point, Database

-Actuarial Application

-Passion for Excellence

-Information Seeking

-Analytical Thinking

-Good customer service (internal and external)

-Concern for Order and Quality

• High level of integrity, tasks accountability of work and good attitude over teamwork.
• Takes initiative to improve current state of things and adaptable to embrace new changes.

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.

The 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.

To all recruitment agencies: Great Eastern does not accept unsolicited agency resumes. Please do not forward resumes to our email or our employees. We will not be responsible for any fees related to unsolicited resumes.