Senior Manager, Group Actuarial IFRS17

FWD Group; Kuala Lumpur; On-site; MYR 120,000 - 160,000; Full time

Job summary

A leading life and health insurance company based in Kuala Lumpur is seeking an experienced Actuarial Team Lead to manage the development of the IFRS17 CSM model. This role requires 8 to 10 years of actuarial experience and expertise in Prophet design. The candidate will lead a team in maintaining the model, ensuring compliance, and engaging with key stakeholders. This position offers opportunities for professional growth in a dynamic environment focused on operational excellence and innovation.

Qualifications

• 8 to 10 years insurance experience in actuarial functions.
• Fellowship or nearly fellowship member of an internationally recognised actuarial professional body.
• Strong understanding of Actuarial valuation processes and IFRS17.

Responsibilities

• Lead and manage the development and maintenance of the IFRS17 CSM model.
• Manage the workload of the team and ensure adequate resource allocation.
• Provide technical actuarial expertise for the IFRS17 CSM model.

Skills

Team leadership

Negotiation skills

Analytical skills

Communication skills

Education

Fellowship in actuarial science or nearly fellowship member

Tools

Prophet design and modelling

Job description

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.

For more information, please visit www.fwd.com

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

Support the Head of TIM IFRS17 and actively contribute to building the TIM IFRS17 CSM Development team by:

• Leading and managing the development, implementation, and maintenance of the FWD centralised IFRS17 CSM model for all business units ("BUs") while ensuring the modelling are implemented in accordance with the Group model governance policy
• Leading and managing the resource in supporting various Actuarial initiative/project requested by the Group Office and BUs across FWD group
• Be the technical Actuarial expertise for key functional domains of the FWD centralised IFRS17 CSM model

Key accountabilities

1. Team Lead:
   • Lead, coach and manage team's performance, development and morale to ensure team members achieve their goals according to the expected performance standards.
   • Manage the workload of the team and ensure adequate resource allocation in work arrangement
   • Assist in the hiring of good talent
   • Coordinate and manage incoming service requests
2. IFRS17 CSM Development Lead:
   • Lead and manage the maintenance and enhancement of the FWD centralised IFRS17 CSM model for all business units, and ensure quality and on‑time delivery of work
   • Lead the developer team to provide trouble‑shooting support to the IFRS17 CSM Operation team, Alteryx team, BUs and Group Actuarial during result production
   • Demonstrate up‑to‑date expertise through consultation, advisory and guidance in the development, execution and process improvement
   • Manage relationships and expectations of Group Office, BUs and other key stakeholders by developing a communication process to deliver services within the agreed scope
   • Review the checking and regression test performed by the team and explain any model change impacts, and maintain documentations for key stakeholders
   • Resolve and where necessary, expedite and communicate unprecedented and complex issues to Head of TIM IFRS17 and BUs on a timely manner
   • Responsible to ensure the compliance with the Group policies and control framework, as well as ensuring team's understanding and application of the policies
3. SME of the FWD centralised IFRS17 CSM model:
   • Oversee, guide and provide functional expertise for the development, delivery, quality assurance and maintenance of FWD centralised IFRS17 CSM model in accordance with the FWD Group Actuarial standards and policies and applicable regulatory requirements
   • Exercise judgment and business acumen to provide SME advice and guidance in selecting methods and techniques to deliver as well as support functional and technical modelling solutions and planned / ad‑hoc project requests
   • Provide technical and functional steer and advice on key functional domains as necessary to local BU team and function heads
   • Discuss improvement opportunities in the Centralized IFRS 17 CSM model and processes with the team and provide advice on how to implement the improvement ideas
4. Set project priorities for the team and oversee all projects deliverables including planning and managing the resources in delivering the Actuarial initiative/projects from Group Actuarial and business unit.

Key performance indicators

• Effectiveness of the model maintenance process and project delivery
• Engagement and development of team members
• Value added to local business units

External & Internal contacts

• Group Risk and Actuarial Committee, ALM Committee and IFRS17 Project Steering Committee
• Local Country CA, CFO, CRO and function head
• Head of TIM IFRS17

Qualifications / Experience

• 8 to 10 years insurance experience in actuarial functions
• Fellowship or nearly fellowship member of an internationally recognised actuarial professional body

Knowledge & technical skills

• Experienced in Prophet design and modelling
• Strong understanding of Actuarial valuation processes and IFRS17 are preferred
• Strong analytical skills

Competencies

• Strong team leadership and management skills
• Strong facilitation, negotiation and problem resolution skills
• Strong strategic thinking ability to prioritize and balance multiple tasks or projects.
• Strong analytical skills
• Good communication and presentation skills
• Fluent in English speaking and written skills

Others

• Flexible to travel

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