AVP/ Manager, Actuarial Pricing (GETB)

Great Eastern; Kuala Lumpur; On-site; MYR 200,000 - 250,000; Full time

Job summary

A leading insurance provider in Malaysia is seeking an experienced pricing specialist responsible for developing and executing competitive pricing strategies while ensuring compliance with regulations. Candidates should possess a Bachelor’s degree in a related field, good progress in actuarial exams, and 8-12 years of relevant experience. Strong analytical, communication, and problem-solving skills are essential. The role involves close collaboration with various teams to optimize product design and pricing strategies.

Qualifications

• Minimum 8-12 years of actuarial experience, with strong pricing exposure.
• Good progress in actuarial professional exams.

Responsibilities

• Develop and execute competitive pricing strategies.
• Monitor performance of product portfolio and conduct claim analysis.
• Collaborate with Product Development and underwriting teams.

Skills

Analytical skills

Communication

Problem solving

Team management

Knowledge of insurance products

Education

Bachelor’s degree in actuarial science, mathematics, statistics, or related field

Job description

You are responsible for timely and accurate delivery of competitive and sustainable pricing strategies for Group, Banca, DA and direct channel and to ensure the key profit criteria is met which in line with company’s business strategy, regulatory requirements and risk management frameworks.

Key responsibilities:

(a) Strategic Leadership & Pricing Framework

• Develop and execute pricing strategies that balance competitiveness and profitability which comply with GETB's Product Pricing Policy.
• Oversee actuarial pricing models and ensure robust assumptions setting based on data driven insights.
• Ensure the team is delivering quality works by validating pricing assumptions, methodology, and verifying the results.
• Perform risk assessment to identify the risks associated with the product nature before the product launch and highlights the outcomes to stakeholders.
• Play a leading role in actuarial and pricing related projects and company-wide initiatives.

(b) Actuarial Model Development & Experience Analysis

• Review of Annual Experience Studies, including claims trends, mortality/morbidity analysis and certificate holder behavior.
• Monitor the performance of the product portfolio, identifying areas for pricing adjustments or product enhancements.
• Ensure accuracy and delivery of Annual Product Review and Post Implementation Product Review.
• Monitor claims experience and conduct claim analysis to provide insights to support management for informed decision making.

(c) Business Collaboration & Stakeholder Engagement

• Work closely with Product Development, Underwriting, and Distribution teams to optimize product design and pricing strategies.
• Engage in discussions with Product Working Group to ensure operational efficiency before the product launch.
• Proactive collaboration with internal stakeholders to support launches and implementation of new products.
• Proactive collaboration with Retakaful Operator to negotiate treaty terms, optimize reinsurance pricing structures and building knowledge base.
• Present actuarial findings to senior management, ensuring alignment with corporate strategy.

(d) Regulatory & Governance Compliance

• Ensure comprehensive support to management team when liaising with regulatory
• authorities, industry bodies, and internal/external auditor in pricing-related matters.
• Prepare and review the submission of product documentation to BNM
• Provide analysis and justification for regulatory submissions, audit, board-level
• presentations or any ad-hoc request from regulatory.
• Maintain actuarial pricing policies and procedures to ensure transparency and
• consistency.

(e) People Management

• Collaborate effectively with the team to deliver high quality work.
• Provide mentorship and technical guidance to junior actuarial team members, fostering ahigh-performance culture.
• Promote innovation and continuous improvement within the actuarial pricing function.
• Supervise the team with clear roles, responsibilities, and career development pathways.
• Takes accountability in considering business and regulatory compliance risks and takesappropriate steps to mitigate the risks.
• Maintains awareness of industry trends on regulatory compliance, emerging threats andtechnologies in order to understand the risk and better safeguard the company.
• Highlights any potential concerns /risks and proactively shares best risk management practices.
• Qualifications: Bachelor’s degree in actuarial science, mathematics, statistics, or a related field. Good progress in actuarial professional exams.
• Minimum 8-12 years of actuarial experience, with strong pricing exposure and leadership experience
• Skills: Strong analytical, communication, problem solving skills. Effective in team management. Knowledge of insurance / takaful products and financial markets, and good understanding of Takaful Principles.
• Demonstrates alignment with the organisation’s core values through expected behaviors
• High level of integrity, takes accountability of work and good attitude over teamwork.
• Takes initiative to improve current state of things and adaptable to embrace new changes.
• 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.

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.

Be careful - Don’t provide your bank or credit card details when applying for jobs. Don't transfer any money or complete suspicious online surveys. If you see something suspicious, report this job ad .