Senior Actuarial Manager (Pricing & Reinsurance)

MCIS Life; Selangor; On-site; MYR 100,000 - 150,000; Full time

Job summary

MCIS Life seeks a Pricing Actuary to manage pricing and technical actuarial work. This role involves collaborating with various teams, ensuring reinsurance accuracy, and supporting product development initiatives. Ideal candidates are qualified actuaries with strong analytical and communication skills, motivated to make a meaningful impact.

Qualifications

• Qualified or near to qualified actuary pursuing exams with 8+ years of experience.
• In-depth knowledge in life insurance pricing and reinsurance.
• Ability to guide team members and manage projects.

Responsibilities

• Manage pricing, actuarial work, and provide team guidance.
• Conduct reinsurance retention studies and ensure accurate reporting.
• Collaborate with departments for product design and implementation.

Skills

Logical thinking

Critical thinking

Analytical

Communication

Coaching

Stakeholders management

Strong time management

Teamwork

Education

Actuarial degree

Job description

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MCIS Life stays true to the essence of life and medical insurance; the idea that one person can make a difference in the lives of others. Our brand promise,#PeopleHelpingPeople, encapsulates that ethos. We cultivate trustworthy, caring, and respectful relationships with our customers. Motivated by their future security, we embrace a progressive mindset and innovative thinking. Through family-minded insurance products, we forge a path toward a brighter tomorrow

WHY JOIN US?

Step forward and take charge of your career!

Aside from being firm believers of helping people secure their financial future, we believe our people are our greatest assets. With#PeopleHelpingPeopleas the core of our brand, we want to help our people by taking their needs into account as well.

Position Objective:
Managing of pricing (Agency) and other technical actuarial work, including reinsurance. Providing guidance to team members in these areas.

Reinsurance administration, reinsurance retention study, system development, enhancement, and testing, and provide actuarial support to Operations and other departments.

a. Create and reviews models of products in existing tools or develop new pricing tools

b. Development of pricing basis, policies and procedures.

c. Review pricing rates and other financial metrics required for product approval and regulatory submission.

d. Work in collaboration with other departments, providing input for product design and implementation.

e. Review documents for regulatory submissions.

f. Review spreadsheets required for vendor development (e.g. sales illustration).

g. Liaise with reinsurers on matters related to pricing.

h. Review on system development and liaise with lT to ensure correct implementation.

i. Review team member's work.

2. Experience analysis

a. Review team member's work on experience.

b. Monitor product experience on a regular basis.

c. Interpret results of the above and make recommendations on pricing and product design.

3. Others

a. Collaborate with stakeholders to analyse business issues and find technical solutions.

b. Managing of direct reports and identifying development needs to be discussed with superiors for implementation

4. Reinsurance

a. Ensure all reinsurance reports are prepared timely and accurately.

b. Responsible for the accuracy of RI models and completeness of the model documentation.

c. Regularly updating the reinsurance policy.

d. Reviewing RI proposals and treaties for new products and also product enhancements.

e. Performing reinsurance retention study timely and accurately.

f. Ensure all RI treaties are signed off within the given timeframe.

g. Responsible for all reinsurance related matters, including reconciliation, responding to auditors’ questions, provide RI info to management and regulators etc.

h. Support implementation of new product, including system enhancement requirement, preparing calculator, performing UAT.

i. Support other services by providing input into product development and implementation.

j. Work within the Product Working Group on the design and development of innovative products.

k. Back up any other ad hoc requests.

l Review of reinsurance information.

m. Liaise with reinsurers on pricing matters.

Job Requirement:

1. Actuarial degree. Qualified or near to qualified and pursuing actuarial exams.

2. Preferrable 8 years + experience in relevant areas.

3. Life insurance pricing. In-depth reinsurance knowledge and system knowledge.

4. Logical thinking, Critical thinking, Business thinking, Analytical, Communication, Coaching, Stakeholders management, Strong time management, Teamwork

Join MCIS Life: Make a Meaningful Impact

Join MCIS Life for a rewarding career where you can make meaningful impact on the lives of others. We are seeking driven individuals who are eager to contribute to our high-performance culture through our S.A.A.T. strategy, encapsulated in our motto: 'Every Second Unlocks a New You: Transforming Attitudes and Shaping the Right Mindset.'

At MCIS Life, we believe that our people are our greatest assets, and we are committed to fostering an inclusive environment that empowers you to grow and succeed. We prioritize creating a diverse, equitable, and inclusive workplace where every employee feels valued and respected, ensuring equal opportunities for professional growth and development. Diversity is celebrated as a source of strength and innovation, and we are dedicated to ongoing efforts to eliminate discrimination, bias, and harassment in all its forms.

If our mission and your mission are aligned, please apply: https://www.mcis.my/about-us/career

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Your application will include the following questions:

Which of the following statements best describes your right to work in Malaysia? What's your expected monthly basic salary? Which of the following types of qualifications do you have? How many years' experience do you have as a Pricing Actuary? How many years' experience do you have as a Head of Pricing? How many years' experience do you have in the insurance industry?

While we’re in the business of helping people secure their financial future, we don’t forget our own people too, for we believe they are our greatest assets. We pride ourselves in being customer-centric, that means putting people first.

Accordingly, we’re looking for people who share this same attitude.

At MCIS Insurance, we provide an atmosphere of inclusion, collaboration and innovation that enables individuals to contribute to the overall success of the business through their unique strengths, skills and talents. Our people are the driving force behind the company; it is their commitment and passion that lends to the continuous success of our business.

As a member of the Sanlam Group, MCIS Insurance works closely with its parent company whilst allowing inter-company career opportunities across the Group, in offices around the world. The Sanlam Group is a South Africa-based fully-diversified financial services company, which includes insurance, financial planning, retirement, trust, wills, short term insurance, asset management, capital market activities, investment and wealth.

STEP UP & TAKE CHARGE OF YOUR CAREER

While we’re in the business of helping people secure their financial future, we don’t forget our own people too, for we believe they are our greatest assets. We pride ourselves in being customer-centric, that means putting people first.

Accordingly, we’re looking for people who share this same attitude.

At MCIS Insurance, we provide an atmosphere of inclusion, collaboration and innovation that enables individuals to contribute to the overall success of the business through their unique strengths, skills and talents. Our people are the driving force behind the company; it is their commitment and passion that lends to the continuous success of our business.

As a member of the Sanlam Group, MCIS Insurance works closely with its parent company whilst allowing inter-company career opportunities across the Group, in offices around the world. The Sanlam Group is a South Africa-based fully-diversified financial services company, which includes insurance, financial planning, retirement, trust, wills, short term insurance, asset management, capital market activities, investment and wealth.