Manager Actuarial

FWD Group; Kuala Lumpur; On-site; MYR 120,000 - 160,000; Full time

Job summary

A leading insurance company in Kuala Lumpur is seeking an Actuarial Team Lead to develop and maintain centralized actuarial models. The ideal candidate will have 6 to 8 years of experience in actuarial roles and strong Prophet modelling skills. Responsibilities include managing team performance, ensuring compliance with governance policies, and maintaining stakeholder relationships. This is a strategic role that requires effective leadership and communication skills, offering a dynamic environment with opportunities for professional growth.

Qualifications

• 6 to 8 years of experience in actuarial functions within the insurance industry.
• Experience in valuation processes under USGAAP and knowledge of IFRS17.
• Fluent in spoken and written English.

Responsibilities

• Lead and manage the development of centralized Actuarial models.
• Coach and promote team performance, ensuring goals are met.
• Manage relationships with Group Office and other stakeholders.

Skills

Prophet modelling skills

Analytical skills

Leadership skills

Communication skills

Negotiation skills

Education

Fellowship or nearly fellowship member of an actuarial professional body

Job description

About FWD Group

FWD Group (1828.HK) is a pan-Asian life and health insurance business that serves approximately 34 million customers across 10 markets, including BRI Life in Indonesia. FWD’s customer-led and tech-enabled approach aims to deliver innovative propositions, easy-to-understand products and a simpler insurance experience. Established in 2013, the company operates in some of the fastest-growing insurance markets in the world with a vision of changing the way people feel about insurance. FWD Group is listed on the main board of the Hong Kong Stock Exchange under the stock code 1828.

For more information, please visit www.fwd.com

FWD Technology and Innovation Malaysia Sdn. Bhd., known as FWD TIM, was established in late 2019. Strategically located in Kuala Lumpur, FWD TIM serves as a pivotal shared service location within FWD Group, providing services to multiple markets across the Group. FWD TIM houses a diverse and talented workforce focused on essential business and technology services such as information security, cloud operations, IT solutions delivery, digital and data, actuarial, finance, investments, and customer service, among many others. FWD TIM is dedicated to drive and deliver operational excellence and efficiency, foster innovation and ensure regulatory compliance across all business functions as well as maintain a competitive edge in the market.

Purpose

1. Actively contribute to building an in-house Actuarial consulting hub by leading and managing the development, implementation, and maintenance of the centralized Actuarial models for assigned business units while ensuring the modelling implementation are in accordance with the Group Model governance policy.
2. Leading and managing the shared pool resource in supporting various Actuarial initiative/project requested the group office and business unit across FWD group.

Key Accountabilities

• As the team lead:
  • Lead, coach, manage, and promote team’s performance, development, and morale to ensure team members achieve their goals according to the expected performance standards.
  • Manage the shared pool resources and ensure adequate resource allocation in work arrangement.
  • Involve in the hiring of good talent.
• As the Country Model Lead:
  • Lead and manage the overall development and maintenance of the centralized Actuarial models for business units, and ensure quality and on-time work delivery.
  • Demonstrate up-to-date expertise of Prophet modelling in the development, execution and improvement of modelling process.
  • Manage relationships and expectations of Group Office, business units and other key stakeholders by developing a communication process to deliver defined Prophet modelling services within the agreed scope and keep up-to-date modelling service progress.
  • Review the checking and regression test performed by the team and explain any model change impacts, and maintain model documentation for key stakeholders.
  • Resolve and where necessary, upscale and communicate unprecedented and complex modelling issues to Head of TIM Actuarial and business units on a timely manner.
  • Responsible to ensure all time compliance with the Group Model Governance policy including the model documentation, modelling process and control as well as ensuring team’s understanding and application of the policy.
• Set project priorities for the team and oversee all projects deliverables including planning and managing the shared pool resources allocation to deliver the expected Actuarial services or resources on and

Key Performance Indicators

• Effectiveness of the model maintenance process and project delivery.
• Engagement and development of team members.
• Value added to local business units.

External & Internal Contacts

• Group Risk and Actuarial Committee, ALMCO Committee and IFRS17 Project Steering Committee.
• Local Country CA, CRO, investment/ALM teams and function head.
• Head of TIM Actuarial.

Decision Making

In accordance with Insurance Group delegated authorities.

Qualifications / Experience

• 6 to 8 years insurance experience in actuarial functions.
• Fellowship or nearly fellowship member of an internationally recognised actuarial professional body.

Knowledge & Technical Skills

• Strong Prophet modelling skills, knowledge on Prophet ALS is preferred.
• Good understanding of valuation processes under USGAAP, statutory and traditional EV, knowledge on EC/RBC and IFRS17 are preferred.

Our Competencies

• Good team leadership and development skill.
• Good facilitation, negotiation and problem resolution skills.
• Good strategic thinking: Ability to prioritize and balance multiple tasks or project.
• Strong analytical skills.
• Good communication and presentation skills.
• Fluent in English speaking and written skills.

Others

• Flexible to travel.