Manager / Senior Manager, Capital Management and Retakaful

FWD Group; Kuala Lumpur; On-site; MYR 200,000 - 250,000; Full time

Job summary

A leading insurance provider in Kuala Lumpur seeks a Manager/Senior Manager to oversee actuarial financial reporting and retakaful operations. This role involves ensuring the company's solvency and managing team development. The ideal candidate has a Bachelor's Degree in Actuarial Science or Mathematics, with a minimum of 6 years of experience in the actuarial field. Strong skills in Excel and Prophet, alongside good analytical capabilities, are essential for success in this position.

Qualifications

• Minimum 6 years of working experience in the actuarial field.
• Good progress with examinations from Recognised International Actuarial Bodies.
• Ability to work well under pressure and meet deadlines.

Responsibilities

• Prepare and analyse actuarial financial reporting.
• Ensure company solvency position remains healthy.
• Coordinate the retakaful arrangement.
• Provide technical actuarial support to various functions.

Skills

Excel proficiency

Actuarial valuation knowledge

Analytical skills

Teamwork

Communication skills

Education

Bachelor's Degree in Actuarial Science or Mathematics

Tools

Prophet

Job description

Manager / Senior Manager, Capital Management and Retakaful

FWD Group is a pan-Asian life and health insurance business with more than 12 million customers across 10 markets, including some of the fastest-growing insurance markets in the world. The company was established in 2013 and is focused on changing the way people feel about insurance. FWD’s customer‑led and digitally enabled approach aims to deliver innovative propositions, easy‑to‑understand products and a simpler insurance experience.

FWD Takaful Berhad ("FWD Takaful") is a takaful provider in Malaysia that offers family takaful services. It is licensed under the Islamic Financial Services Act 2013 and regulated by Bank Negara Malaysia, and is a takaful business unit of FWD Group.

Key Responsibilities

• Prepare and analyse actuarial financial reporting in relation to regulatory, management and retakaful.
• Ensure company solvency position remains healthy while optimising profitability and capital efficiency.
• Review and coordinate the retakaful arrangement and ensure all retakaful treaty / addendum are signed on time.
• Determine the surplus distributable for the financial year.
• Act as an actuarial model coordinator between end users and FWD TIM.
• Lead and manage projects where relevant.
• Assist the Appointed Actuary (AA) in preparing the Financial Condition Report.
• Prepare the experience studies and propose appropriate assumptions to be used for valuation / pricing purposes.
• Review and perform UAT for actuarial model enhancements and ensure proper documentation in compliance with guidelines and policies.
• Ensure all actuarial related internal and groupwide policies / framework, regulatory guidelines are implemented effectively.
• Provide technical actuarial support to various functions where required.
• Develop, motivate and mentor the team members and prepare them for greater job responsibility.

Key Accountabilities

• Accurately determine the statutory reserve, capital level and sensitivities for regulatory, management reporting within agreed timeline.
• Prepare information in relation to capital monitoring such as but not limited to stress test and scenario test.
• Prepare local solvency reporting for management and group which include base and all sensitivity tests.
• Provide support for Internal Capital Adequacy Assessment Process (ICAAP) with focus on ITCL and TCAR determination and stress scenario determination.
• Accurately determine the retakaful contribution and recoveries and prepare Bordereaux within agreed timeline.
• Review and coordinate the retakaful treaty for new and inforce treaties while ensuring it complies with internal policies.
• Ensure the surplus distributable is calculated in accordance with internal policy and accurately.
• Act as the main coordinator between local and TIM office for all Prophet modelling developments including model enhancements, UAT and documentation sign‑off.
• Perform experience studies (including detailed monitoring) and highlight any trends observed to management.
• Ensure all group policies are localised and implemented effectively in daily tasks.
• Lead and manage projects assigned and ensure projects are running on track and completed on schedule with high quality.
• Develop and maintain a highly motivated team while providing support and guidance to ensure their career development and progress.

Key Performance Indicators

• Quality and timeliness of delivery for all reports/results.
• Successfully implemented all regulatory requirements including new regulatory development as well as group policies.
• Effective controls and checks are implemented.
• Models developed by FWD TIM are in compliance with modelling framework and well documented.

External & Internal Contacts

• Country functional heads.
• FWD TIM Malaysia.
• Group Actuarial / Group Finance / Risk.
• Bank Negara Malaysia (BNM).
• Internal/External Auditors/Reviewers.
• Retakaful Operators.

Qualifications / Experience

• Minimum 6 years of working experience in actuarial field.
• At least a Bachelor's Degree in Actuarial Science or Mathematics.
• Good progress with examinations from Recognised International Actuarial Bodies (e.g. IFOA, SOA, IOAA).

Knowledge & Technical Skills

• Proficiency in Excel and Prophet.
• Sound technical knowledge in actuarial valuation.
• Highly analytical and inquisitive with attention to details.
• Able to work well in a team and also deliver as an individual contributor.
• Results driven and adaptable with good interpersonal and strong written and communication skill.