Manager, Product Pricing

FWD Group; Kuala Lumpur; On-site; MYR 120,000 - 150,000; Full time

Job summary

A leading insurance provider is seeking an experienced actuary to review and validate the pricing of Takaful products in Kuala Lumpur. The role requires over 10 years of actuarial experience, focusing on pricing, and a proficiency in Microsoft Excel. Strong problem-solving and communication skills are essential. This position involves engaging with regulators and retakaful operators, ensuring compliance, and overseeing a junior team. The ideal candidate will have a degree in Actuarial Science or related fields and progress in actuarial exams.

Qualifications

• More than 10 years of actuarial working experience, with at least 5 years in pricing.
• Good progress in actuarial exams; qualified actuary is a plus.

Responsibilities

• Review data preparation/validation for pricing of Takaful products.
• Ensure maintenance and validation of pricing models.
• Engage with retakaful operators on rates.
• Review product filing for BNM compliance.
• Manage User Acceptance Testing on systems.

Skills

Actuarial techniques and pricing

Microsoft Excel

Strong communication skills

Analytical skills

Problem-solving skills

Attention to detail

Education

Bachelor's degree in Actuarial Science or Mathematics/Statistics

Job description

FWD Group (1828.HK) is a pan‑Asian life and health insurance provider, serving approximately 34 million customers across 10 markets. Its customer‑led, tech‑enabled approach aims to deliver innovative, easy‑to‑understand products and a simpler insurance experience. Listed on the Hong Kong Stock Exchange (1828), FWD Group operates in some of the fastest‑growing insurance markets in the world.

FWD Takaful Berhad is a Malaysian takaful provider, licensed under the Islamic Financial Services Act 2013 and regulated by Bank Negara Malaysia. As a business unit of FWD Group, it offers family takaful services.

We pride ourselves on encouraging fearless innovation and fostering a diverse team that brings different perspectives to achieve our vision of changing the way people feel about takaful.

Key Accountabilities

• Review the preparation/validation of data and assumptions needed for pricing of Takaful products prepared by team
• Ensure maintenance and validation of pricing model is in place.
• Review and provide the necessary write‑up for the product approval report to ensure sufficient financial assessment has been conducted according to FWD Group's pricing benchmark and meet BNM regulatory guidelines
• Responsible for engagement with retakaful operators on retakaful rates
• Responsible for pricing related engagements with BNM, Group, TIMS & consultants
• Review the product filing for BNM filing to ensure that all required information have been disclosed as per regulatory requirement
• Review the system requirements related to product pricing as at when required, e.g. sales illustration calculator
• Manage the process of User Acceptance Testing (UAT) on company's system (both front‑end and back‑end systems); verification of tested cases to ensure the system calculation is as per expected requirement
• Provide guidance/knowledge support while managing junior staff

Qualifications / Experience

• Bachelor of degree or equivalent, in Actuarial Science or other Mathematics/Statistics
• Possess commendable knowledge in actuarial techniques and pricing with more than 10 years of actuarial working experience; preferably at least 5 years in pricing experience
• Good progress in actuarial exams from a recognized international body; qualified actuary is an added advantage

Knowledge & Technical Skills

• Proficient in Microsoft Office, particularly in Excel
• Strong communication, analytical and problem‑solving skills
• Strong attention to detail