Manager, Product Pricing

Great Eastern; Kuala Lumpur; On-site; MYR 100,000 - 180,000; Full time

Job summary

Great Eastern is seeking a skilled Actuarial Pricing professional to support end-to-end product pricing and premium rating processes. You will test pricing models, modify models to meet internal and regulatory standards, and ensure compliance with policies for product launches.

You will collaborate with internal teams to integrate new product features, assist in actuarial parameter setup, and support pricing projects while mitigating risks and staying abreast of regulatory developments.

Qualifications

• Bachelor's degree in Actuarial Science is required.
• Completion of Preliminary actuarial exams in one recognised by BNM.
• In-depth knowledge of industry standards, regulations and policies; strong actuarial understanding.

Responsibilities

• Perform pricing and profit testing of products using established models.
• Modify pricing models to meet internal and regulatory requirements.
• Ensure compliance with product and pricing policies and regulatory guidelines for filings.
• Collaborate with internal teams to integrate new product features into operations.
• Assist in handling non-routine queries from stakeholders.
• Support actuarial pricing parameter setup for new products.
• Contribute to benefit illustrations programs for system validation.
• Support actuarial and pricing related projects and company initiatives.
• Identify and mitigate regulatory/commercial risks.

Skills

Actuarial models

Regulations

Communication

Excel

Visual Basic

Prophet

Data analysis

PowerPoint

Word

Education

Bachelor's Degree in Actuarial Science

Tools

Macro

Visual Basic

Excel

Word

Job description

To support end-to-end product pricing process and involve in premium rating process to ensure competitiveness of the products as well as to ensure profitability of the products to meet the required return to shareholders.

• Perform pricing and profit test of products using established models
• Modification of pricing models that meet the internal and regulatory requirements
• Ensure compliance with internal product and pricing policies, processes, profit margins and external regulatory guidelines to obtain approval / filing for product launches
• Partner internal functions to integrate new Individual Life / Accident & Health product features into their day-to-day operational activities
• Assist in handling non-routine queries from stakeholders
• Assist in the actuarial related pricing parameters set up for new products
• Assist in modifying/designing benefit illustrations programs for system validation
• Play a supporting role in actuarial and pricing related projects and company-wide initiatives
• Takes accountability in considering business and regulatory compliance risks and takes appropriate steps to mitigate the risks.
• Maintain awareness of industry trends on regulatory compliance, emerging threads and technologies in order to understand the risks and better safeguard the company.
• Highlights any potential concerns / risks and proactively shares best risk management practices.

We are looking for people who

• A Bachelor's Degree in Actuarial Science
• Knowledge on: Actuarial models (Intermediate), Industry standards, regulations and policies (In-depth), Own job discipline (Advanced)
• Completed Preliminary actuarial exams in one of the actuarial associations recognised by BNM
• Skillset: Good communication skills: Written and verbal, Relevant computer skills: Macro, Visual Basic, Excel, Words, etc., Prophet: Skill in product modelling and projection, Data Analysis
• Competencies: Actuarial Knowledge, Product Knowledge and Development, Microsoft Words, Excel & Power Point, Database, Actuarial Application, Passion for Excellence, Information Seeking, Analytical Thinking, Good customer service (internal and external), Concern for Order and Quality
• 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.
• 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

How you succeed

• 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.

Who we are

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.