Malaysia Job Openings

FWD Insurance

Manager / Senior Manager, Capital Management and Retakaful

FULL TIME

October 24, 2024

About FWD Group

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

About FWD Takaful Berhad

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

Visit

https://www.fwd.com.my

Join us

We’re proud to be a company that encourages and nurtures fearless innovation in achieving our vision of changing the way people feel about takaful. Our teams come from a wide variety of industries and backgrounds because we value developing a truly diverse pool of talent that brings different perspectives and experiences. Our values – committed, innovative, proactive, open, and caring – define who we are and what we do as we work together to bring our vision to life, every single day.

Prepare and analyse actuarial financial reporting in relation to regulatory, management and retakaful
Ensuring company solvency position remain 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

PURPOSE

Prepare and analyse actuarial financial reporting in relation to regulatory, management and retakaful
Ensuring company solvency position remain 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 test
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 comply with internal policies.
Ensure the surplus distributable are computed in accordance with internal policy and accurately.
Being the main coordinator between local and TIM office for all Prophet modelling developments including modelling of new products, model enhancements, UAT and Documentation sign-off
Perform experience studies (including detail 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 complete on scheduled with high quality
Develop and maintain a highly motivated team while provide 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 is 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

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