About FWD Group
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.
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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
Actively contribute to building an in-house Actuarial consulting hub by
- leading and managing the development, implementation, and maintenance of the centralized Actuarial models for assigned business units while ensuring the modelling are implemented in accordance with the Group model governance policy
- leading and managing the shared pool resource in supporting various Actuarial initiative / project requested the group office and business unit across FWD group,
- be the technical Actuarial expertise for key functional domains such as EV & IFRS Modelling as well as performing the model reviewer for the BU assigned.
KEY ACCOUNTABILITIES
1. As the Team Lead :
Lead, coach, manage, and promote team’s performance, development and morale to ensure team members achieve their goals according to the expected performance standards.Manage the Shared Pool Resource and ensuring adequate resource allocation in work arrangementInvolve in the hiring of good talents2. As the Country Model Lead :
Lead and manage the development and maintenance of the centralised Actuarial models for business units, and ensure quality and on-time delivery of workDemonstrate up-to-date expertise in Prophet modelling skill through consultation, advisory and guidance in the development, execution and improvement of modelling processManage relationships and expectations of Group Office, business units and other key stakeholders by developing a communication process to deliver defined Prophet modelling services within the agreed scope and keep up-to-date modelling service progressReview the checking and regression test performed by the team and explain any model change impacts, and maintain model documentations for key stakeholdersResolve and where necessary, escalate and communicate unprecedented and complex modelling issues to Head of TIM Actuarial and business units on a timely mannerResponsible to ensure the compliance with the Group Model Governance policy including the model documentation, modelling process and control as well as ensuring team’s understanding and application of the policy3. As the SME & Model Reviewer of EV & IFRS Modelling :
Oversee, guide and provide functional SME expertise for the development, delivery, quality assurance and maintenance of EV & IFRS Modelling in accordance with the FWD Group Actuarial standards and policy and applicable regulatory requirementsExercise judgment and business acumen to provide SME advice and guidance to modelling shared pool in selecting methods and techniques to deliver as well as support functional and technical modelling solutions and planned / ad-hoc project requestsProvide technical and functional steer and advice on key functional domains as necessary to local BU team and function headsReview and provide quality assurance checks on model delivery and project work, pertaining to topics on EV & IFRS ModellingExercise the functional SME expertise in leading the actuarial model review on EV & IFRS Modelling for Big 3 BUs : HK, TH, JPSteer and guide the modelling shared pool model reviewers and help to validate model review findingsProvide objective feedback to the stakeholder of BUs on modelling review results, and outline potential gaps4. Set project priorities for the team and oversee all projects deliverables including planning and managing the Shared Pool resources allocation to deliver the expected Actuarial services or resources on and 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
5. Oversee and manage Prophet Enterprise and related calculation engines on Cloud and maintain a clean and auditable production environment
KEY PERFORMANCE INDICATORS
Effectiveness of the model maintenance process and project deliveryEngagement and development of team membersValue added to local business unitsEXTERNAL & INTERNAL CONTACTS
Group Risk and Actuarial Committee, ALMCO Committee and IFRS17 Project Steering CommitteeLocal Country CA, CRO, investment / ALM teams and function headHead of TIM ActuarialDECISION MAKING
In accordance with Insurance Group delegated authoritiesQUALIFICATIONS / EXPERIENCE
8 to 10 years insurance experience in actuarial functionsFellowship or nearly fellowship member of an internationally recognised actuarial professional bodyKNOWLEDGE & TECHNICAL SKILLS
Strong Prophet modelling skills, knowledge on EV and IFRS modellingStrong understanding of valuation processes under USGAAP, statutory and traditional EV, knowledges on EC / RBC and IFRS17 are preferredOUR COMPETENCIES
Strong team leadership and development skillStrong Facilitation, negotiation and problem resolution skillsStrong Strategic Thinking : Ability to prioritize and balance multiple tasks or project.Good presenterStrong analytical skillsGood communication and presentation skillsFluent in English speaking and written skillsOTHERS
Flexible to travel