Manager, Pricing

This role will assist the Head of Pricing to oversee and manage the product pricing of Sun Life Malaysia, ensuring that products meet all financial targets. The main objectives will include pricing of new products and re-pricing of existing products, and to support the distribution and operations teams on business case review, production issues, and quotations.

The position will manage projects under both Conventional and Takaful, across different distribution channels such as bancassurance, agency, telemarketing, and others. The role will also manage a sub-team of 2-3 persons, and is responsible for coaching and developing these individuals in their respective roles. There will also be opportunities to participate in product development ideas.

Manage end-to-end Product Pricing / Re-pricing Initiatives

Work with all internal stakeholders including marketing and operations in all stages of product development and advice on feasibility from pricing perspective.

Ensure the team proposes sound and reasonable assumptions, and also balanced pricing that meets both profitability of the company and meeting fair client value.

Assess reinsurance arrangements, including negotiating with the reinsurers to obtain competitive quotes. Propose and execute the most optimal reinsurance arrangement for a particular product.

Ensure the team delivers full product pricing and profitability analysis for Management approval and Regional Office Peer Review team review, in compliance to both the internal and regulatory guidelines and requirements.

Ensure high standards and structure of documentation for reference and audit.

Staff Development

Oversee and review the work carried out by the team.

Provide guidance to the team, help to develop necessary skills, including technical actuarial skills and soft skills.

Periodically assess staff performance and communicate with them to improve the performance.

Product performance monitoring and reporting

Work with internal stakeholders to obtain financial measures for product monitoring.

Perform timely analysis and monitoring and escalate if product fails to perform.

Suggest changes to product if it does not perform as expected.

Group Quotation / Operations Support

Lead / provide guidance to the Group Quotations and / or the Operations Support team.

Review the rates and assumptions used on the group quotation and provide reasonable feedback for all queries / issues raised on group quotation.

Support the operations team in handling system issues and customer complaints, including providing manual worksheets as workaround to production issues.

Support relevant project, primarily from the financial viewpoint. Examples :

Evaluate business case for new distribution channel / partner and assess potential profitability / drawbacks.

Participate in projects that elevate and optimize the company's profitability, such as reinsurance optimization.

Participate in projects that bring additional value to the team and the company, such as automation projects that optimize work / results.

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