Executive, Pricing

Sun Life Malaysia Assurance Berhad; Kuala Lumpur; On-site; MYR 72,000 - 110,000; Full time

Benefits offered by this job

Medical Insurance

Birthday Leave

Job summary

Sun Life Malaysia Assurance Berhad is seeking an executive to manage the pricing process for new products and re-pricing existing ones. The role includes supporting product development, group quotations, and actuarial operations across bancassurance, telco-assurance, telemarketing, online, and agency channels.

The incumbent will develop Excel and Prophet pricing models, document pricing approaches, and contribute to risk assessments and regulatory reviews.

Qualifications

• Degree in Actuarial Science is a minimum requirement.
• Passing of professional actuarial examinations is desired.
• 0–2 years working experience in actuarial pricing.
• Familiarity with Microsoft Excel and Prophet.
• Strong command of English in spoken and written form.

Responsibilities

• Develop pricing models and ensure reconciliation with basis.
• Provide actuarial support in product development and group quotations.
• Prepare pricing documentation and risk assessments.
• Support UAT for new and existing products.
• Assist in operation support and ad hoc pricing tasks.

Skills

Pricing models

Actuarial concepts

UAT coordination

Group quotations

Regulatory knowledge

Education

Degree in Actuarial Science

Tools

Excel

Prophet

Job description

A executive is mainly responsible for the entire pricing process of new products and re-pricing of existing products. He or she will provide assistance in the Product Development Process, group quotations and operation support.

This position is also required to perform User Acceptance Test (UAT) for new and existing products, provide group quotations and provide actuarial support to other departments.

This role will support the bancassurance, telco-assurance, telemarketing, online, and also the agency channels. The role will support both the conventional business and takaful business.

Responsibilities

• Develop Excel & Prophet pricing models based on the latest basis and methodologies and ensure both models are fully reconciled.
• Ensure that product features in pricing models are consistent with the product specification.
• Develop Core Assumption Sheet (CAS) write-up with appropriate economic & operational assumptions.
• Recommend suitable assumptions to be used in pricing, and provide justifications for them.
• Perform initial pricing for the Product team or the Distribution team for initial discussion with relevant party.
• Discuss product concepts, features, and pricing with the Product team and the Distribution team.
• Generate full pricing and profit test results.

Pricing Documentation and Compliance

• Ensure appropriate and sufficient documentation is done at every point of the pricing process.
• Complete the Preliminary Risk Assessment (PRAM) and Final Risk Assessment (FRAM) documents, and provide relevant justifications and insights.
• Prepare the product pricing report or file note for the Regional Peer Review team.
• Assist the Regional Peer Review team in their queries.
• Review the product collaterals such as the policy contract and disclosure documents, and provide appropriate feedback with regards to regulatory requirements.

Group Quotation

• Provide group quotations (Group Term Takaful, Group Term Life and Group Hospitalization & Surgical Benefit) for the Distribution team.
• Ensure the assumptions used are appropriate.
• Communicate/negotiate with the reinsurer/retakaful operator if necessary.
• Provide reasonable feedback/responses for all queries/issues raised on group quotations in a timely manner.

User Acceptance Test (UAT)

• Work with the Information Technology departments to specify system requirements.
• Review the Business Requirement document to ensure that the requirements are consistent with the product features.
• Prepare test scenarios and scripts prepared, and ensure they are adequate and sufficient.
• Perform UAT and communicate with the IT team if any issues arise.

Operation Support/Ad Hoc

• Provide Actuarial Pricing technical support to other departments.

Requirements

A Degree in Actuarial Science is a minimum requirement.

Passing of the professional actuarial examinations is desired as it shows an ability to understand key actuarial concepts.

Working experience in actuarial pricing of 0 to 2 years.

Should be adept in actuarial principles and concepts as they form the core skills required for this job.

Should be familiar and comfortable with Microsoft Excel and Prophet as they are used extensively in this position.

Should be well versed in English, both verbal and written, as there will be communication with other departments and also external parties where the delivery of your key points and ideas is crucial.

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Sun Life Malaysia Assurance Berhad and Sun Life Malaysia Takaful Berhad is a joint venture by Sun Life Assurance Company of Canada and Khazanah Nasional Berhad.

As a life insurance and Family Takaful provider, Sun Life Malaysia offers a comprehensive range of products and services to Malaysians across the country.

At Sun Life, we cultivate a High-Performance, Caring Culture that empowers our people to achieve outstanding results, embrace continuous growth, and create meaningful impact. We succeed together by fostering an inclusive environment where wellbeing, collaboration, and accountability are equally valued.

Sun Life Malaysia Assurance Berhad and Sun Life Malaysia Takaful Berhad is a joint venture by Sun Life Assurance Company of Canada and Khazanah Nasional Berhad.

As a life insurance and Family Takaful provider, Sun Life Malaysia offers a comprehensive range of products and services to Malaysians across the country.

At Sun Life, we cultivate a High-Performance, Caring Culture that empowers our people to achieve outstanding results, embrace continuous growth, and create meaningful impact. We succeed together by fostering an inclusive environment where wellbeing, collaboration, and accountability are equally valued.

Perks and benefits Medical Dental Birthday Leave, Public Holiday Replacement Leave &

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