Malaysia Job Openings

FWD Insurance

Senior Analyst, TIM Actuarial Services

FULL TIME

October 14, 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

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
Responsible to develop and maintain the centralised Actuarial models independently and ensure compliance with the Group Model Governance policy as well as support the Actuarial initiatives/projects independently as required by Group Actuarial / business units (BUs)

KEY ACCOUNTABILITIES

Provide guidance to junior team members in their daily tasks
Support the development and maintenance of the Centralised modelling services by/ through:

independently performing the development and maintenance of the centralised Actuarial models for business units, and ensure quality and on-time work delivery;
demonstrating an in-depth Prophet modelling skills in the Model design, build, coding and testing and effectively apply the skills throughout the development, execution and improvement of modelling process;
working in close collaboration, interaction and independently with business units to deliver defined Prophet modelling services within the agreed scope and provide regular modelling service progress;
exercising judgement using established practices and skills to perform modelling checking and regression tests, define and communicate model change impacts and mitigation actions, as well as maintain model documentations for key stakeholders;
escalating modelling issues to the Country Model Lead on a timely manner; and
implementing the Group Model Governance policy including the model documentation, modelling process and controls

Support the SME & Model Reviewer in

conducting in-depth model review on models change made by HK, TH, JP and any other assigned countries

conducting the independent review of developed actuarial models against established governance standards, to ensure models compliance and overall controls;
performing technical review of actuarial models and validation results, as well as identify potential risks and issues from the review process; and
preparing the feedback on modelling review results, and outline potential gaps.

Contribute as an experienced project resource in supporting the Actuarial services or resources on projects basis including but not limited to developing and maintaining ALS model for asset and liability management, economic capital (EC), HKRBC reporting, IFRS17 and any other assignment from Group Actuarial
Process the major request/incident, while guide junior team to process the BAU request/incident on Prophet Enterprise and related calculation engines on Cloud, and assist the senior advisor to maintain a clean and auditable production environment

KEY PERFORMANCE INDICATORS

Effectiveness of the model maintenance process and project delivery
Value added to local business units

EXTERNAL & INTERNAL CONTACTS

Group Actuarial
Local function head, managers and associates
Head of TIM Actuarial and Actuarial Advisors in TIM

QUALIFICATIONS / EXPERIENCE

3 to 5 years insurance experience in actuarial functions is preferred
Bachelor’s degree (or equivalent) in Actuarial Science or other Mathematics/Statistics based major
Good progress in internationally recognised actuarial professional examinations

KNOWLEDGE & TECHNICAL SKILLS

Good Prophet modelling and coding skills
Good understanding of Actuarial valuation processes, statutory and traditional EV, knowledges on EC/RBC and IFRS17 are preferred

OUR COMPETENCIES

Teamworking
Good analytical skills
Good problem-solving skills
Good communication and interpersonal skills
Good in English speaking and written skills

OTHERS

Flexible to travel

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