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Manager / Senior Manager, Capital Management and Retakaful

Manager / Senior Manager, Capital Management and Retakaful

FWD Life Insurance CorporationKL Eco City, Malaysia
18 days ago
Job description

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.

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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.

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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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