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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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 retakafulEnsuring company solvency position remain healthy while optimising profitability and capital efficiencyReview and coordinate the retakaful arrangement and ensure all retakaful treaty / addendum are signed on timeDetermine the surplus distributable for the financial yearAct as an actuarial model coordinator between end users and FWD TIMLead and manage projects where relevantAssist the Appointed Actuary (AA) in preparing the Financial Condition ReportPrepare 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 effectivelyProvide technical actuarial support to various functions where requiredDevelop, motivate and mentor the team members and prepare them for greater job responsibilityKEY ACCOUNTABILITIES
Accurately determine the statutory reserve, capital level and sensitivities for regulatory, management reporting within agreed timelinePrepare information in relation to capital monitoring such as but not limited to stress test and scenario testPrepare local solvency reporting for management and group which include base and all sensitivity testProvide support for Internal Capital Adequacy Assessment Process (ICAAP) with focus on ITCL and TCAR determination and stress scenario determinationAccurately 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-offPerform experience studies (including detail monitoring) and highlight any trends observed to management.Ensure all group policies are localised and implemented effectively in daily tasksLead and manage projects assigned and ensure projects are running on track and complete on scheduled with high qualityDevelop 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 / resultsSuccessfully implemented all regulatory requirements including new regulatory development as well as group policiesEffective controls and checks are implementedModels developed by FWD TIM is in compliance with modelling framework and well documentedEXTERNAL & INTERNAL CONTACTS
Country functional headsFWD TIM MalaysiaGroup Actuarial / Group Finance / RiskBank Negara Malaysia (BNM)Internal / External Auditors / ReviewersRetakaful OperatorsQUALIFICATIONS / EXPERIENCE
Minimum 6 years of working experience in actuarial fieldAt least a Bachelor's Degree in Actuarial Science or MathematicsGood progress with examinations from Recognised International Actuarial Bodies (e.g. IFOA, SOA, IOAA)KNOWLEDGE & TECHNICAL SKILLS
Proficiency in Excel and ProphetSound technical knowledge in actuarial valuationHighly analytical and inquisitive with attention to detailsAble to work well in a team and also deliver as an individual contributorResults driven and adaptable with good interpersonal and strong written and communication skill