Senior Manager, GI Actuarial

FWD Group; Kuala Lumpur; On-site; MYR 150,000 - 200,000; Full time

Job summary

A leading insurance company based in Kuala Lumpur is seeking an experienced Actuary to lead valuation and P&L management for their general insurance portfolio. The role involves working closely with senior stakeholders and requires over 10 years of experience in the insurance industry with strong skills in building actuarial models. Candidates should have a Bachelor's Degree in Actuarial Science and be proficient in R, Python, or SQL. The company emphasizes collaboration and proactive risk management in an evolving market.

Qualifications

• More than 10 years of experience in insurance model development.
• Expertise in Singapore RBC and reporting compliance.
• Experience in data science project implementation.

Responsibilities

• Lead actuarial valuation and P&L management for the GI business.
• Collaborate with CFO and senior stakeholders on strategic actuarial matters.
• Oversee compliance with actuarial processes and regulatory guidelines.

Skills

Actuarial models building and implementation

Risk management

Data analysis

Communication skills

Project management

Education

Bachelor's Degree in Actuarial Science

Advanced degrees or professional actuarial qualifications

Tools

R

Python

SQL

Job description

FWD Group is a pan-Asian life and health insurance business that serves approximately 30 million customers across 10 markets, including BRI Life in Indonesia. FWD's customer-led and digitally 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 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

You will lead actuarial valuation and P&L management for the GI business. You will be expected to work closely with the business and senior stakeholders for the general insurance personal lines portfolio.

Key Accountabilities

• Partner with the CFO to fulfil delegated GI Chief Actuary responsibilities providing strategic direction and leadership in actuarial matters.
• Lead and oversee month-end valuation of insurance liabilities, internal financial reporting, ensuring key movements and deviations from Plan are clearly communicated to senior management and key stakeholders.
• Lead the regular forecasts, business plan and other ad-hoc forecast exercises for GI business, ensuring alignment to overall business strategy.
• Lead MAS reporting and be the key contact person liaising with external Certifying Actuary on actuarial and valuation matters.
• Proactively identify and anticipate risks within the GI business, promptly highlighting them to senior stakeholders and recommending mitigation strategies.
• Engage with key functions, such as GI Pricing, Business Intelligence, Underwriting, Finance and Risk to provide insight on performance of products and drive improvements.
• Ensure compliance of actuarial processes and models with internal policies and regulatory requirements.
• Oversee reinsurer selection, regular reinsurance review, annual renewal exercises including approvals.
• Provide timely and comprehensive updates on status and outcome to relevant stakeholders.
• Stay updated of market changes and/or regulatory changes relating to general insurance, advising the business and senior leaders on potential impacts and opportunities.
• Support GI pricing responsibilities in the absence of the GI Pricing Manager to ensure continuity of business operations.

Qualifications / Experience

• Bachelor's Degree in Actuarial Science. Advanced degrees or professional actuarial qualifications highly desirable.
• Over 10 years of experience in building and implementing models, preferably in the insurance industry.
• In depth knowledge about (i) Singapore RBC and other reporting requirements that general insurers in Singapore have to comply with.
• Advanced programming skills: R, Python or SQL is a plus.
• Experience in developing and implementing technical cost / demand models or other data science projects.
• Demonstrated ability to lead and manage projects and collaborate effectively with cross‑functional teams.
• Strong analytical and strategic thinking skills, with the ability to provide actionable insights and recommendations to senior management.

Knowledge, Skills & Ability

• Strong business acumen in the GI insurance market.
• Excellent communication and presentation skills, with the ability to convey complex actuarial concepts to non‑technical stakeholders.
• Strong interpersonal skill and excellent project management skills.
• Ability to present and influence stakeholders on complex ideas.
• Willing to be hands‑on.
• Ability to learn things quickly and have an inquisitive nature on technology.