Senior Manager, GI Actuarial

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

You will lead actuarial valuation and P&L management for the GI business. You will be expected to work closely with the business and senior stakeholders for the general insurance personal lines portfolio.

KEY ACCOUNTABILITIES

Partner with the CFO to fulfil delegated GI Chief Actuary responsibilities providing strategic direction and leadership in actuarial matters.

Lead and oversee month-end valuation of insurance liabilities, internal financial reporting, ensuring key movements and deviations from Plan are clearly communicated to senior management and key stakeholders.

Lead the regular forecasts, business plan and other ad-hoc forecast exercises for GI business, ensuring alignment to overall business strategy.

Lead MAS reporting and be the key contact person liaising with external Certifying Actuary on actuarial and valuation matters

Proactively identify and anticipate risks within the GI business, promptly highlighting them to senior stakeholders and recommending mitigation strategies.

Engage with key functions, such as GI Pricing, Business Intelligence, Underwriting, Finance and Risk to provide insight on performance of products and drive improvements.

Ensure compliance of actuarial processes and models with internal policies and regulatory requirements.

Oversee reinsurer selection, regular reinsurance review, annual renewal exercises including approvals

Provide timely and comprehensive updates on status and outcome to relevant stakeholders

Stay updated of market changes and / or regulatory changes relating to general insurance, advising the business and senior leaders on potential impacts and opportunities.

Support GI pricing responsibilities in the absence of the GI Pricing Manager to ensure continuity of business operations.

QUALIFICATIONS / EXPERIENCE

Bachelor’s Degree in Actuarial Science. Advanced degrees or professional actuarial qualifications highly desirable.

Over 10 years of experience in building and implementing models, preferably in the insurance industry.

In depth knowledge about (i) Singapore RBC and other reporting requirements that general insurers in Singapore have to comply with

Advanced programming skills : R, Python or SQL is a plus

Experience in developing and implementing technical cost / demand models or other data science projects

Demonstrated ability to lead and manage projects and collaborate effectively with cross-functional teams.

Strong analytical and strategic thinking skills, with the ability to provide actionable insights and recommendations to senior management.

KNOWLEDGE, SKILLS & ABILITY

Strong business acumen in the GI insurance market

Excellent communication and presentation skills, with the ability to convey complex actuarial concepts to non-technical stakeholders.

Strong interpersonal skill and excellent project management skills

Ability to present and influence stakeholders on complex ideas

Willing to be hands-on

Ability to learn things quickly and have an inquisitive nature on technology