Head, Product Development and Underwriting

Bank Pertanian Malaysia Berhad (Agrobank); Kuala Lumpur; On-site; MYR 150,000 - 200,000; Full time

Job summary

A leading financial institution in Kuala Lumpur is seeking a Head of Product Development and Underwriting. The role involves leading the design and structuring of products, ensuring compliance with regulatory and Shariah standards. Applicants should have at least 10 years of underwriting experience in general insurance or takaful and a bachelor's degree in a relevant field. The ideal candidate will excel in strategic thinking and stakeholder management while ensuring cost-effective strategies and transparent processes.

Qualifications

• Minimum 10 years of experience in underwriting within general insurance/takaful.
• Strong understanding of regulatory and Shariah governance frameworks.

Responsibilities

• Lead the design and structuring of products under STTP 2.
• Establish underwriting frameworks and guidelines.
• Ensure cost-effective product and underwriting strategies.

Skills

Strategic Thinking

Stakeholder Management

Operational Agility

Education

Bachelor’s degree in Insurance, Risk Management, Actuarial Science or related field

Job description

Head, Product Development and Underwriting

This role is pivotal during the pre-operational phase of FFTO. The incumbent will lead the design and structuring of products under STTP 2 and poultry sandbox initiatives, ensuring compliance with regulatory, Shariah, and actuarial requirements. Similarly, the position will also establish underwriting frameworks and guidelines, ensuring compliance with regulatory, Shariah, and actuarial requirements. The position will also establish risk management guidelines and collaborate with IT for system logic and integration to enable readiness for operational launch.

Accountabilities

Ensure cost-effective product and underwriting strategies that optimize portfolio profitability while aligning with risk appetite and capital efficiency.

Develop products that meet customer needs and regulatory standards, ensuring clarity and fairness in policy wordings.

Develop underwriting processes that ensure fairness and transparency for customers.

Incorporate sustainable practices and Shariah principles in product development to support ethical and responsible takaful offerings.

Embed ethical and Shariah-compliant practices in underwriting policies.

Drive end-to-end product development and underwriting readiness, including structuring multi-crop and poultry products, establishing underwriting governance frameworks, and ensuring Shariah and regulatory compliance.

Oversee digital integration for product deployment, policy administration system readiness, and operational handover, ensuring alignment with IT systems and adherence to audit and risk standards.

Engage with regulators, retakaful partners, and internal stakeholders to secure alignment and support for new products.

Oversee market research and competitor analysis to inform product strategy and maintain competitive advantage.

Qualifications

Bachelor’s degree in Insurance, Risk Management, Actuarial Science, or related field.

Minimum 10 years of experience in underwriting within general insurance/takaful (experience in product development is an added advantage).

Strong understanding of regulatory and Shariah governance frameworks.

Knowledge & Skills

Strategic Thinking – Ability to plan and execute product development and underwriting strategies.

Technical Expertise – Strong knowledge of underwriting and product design principles.

Stakeholder Management – Ability to collaborate effectively across teams.

Operational Agility – Work under tight timelines in a pre-operational environment.