Product Pricing Assistant Manager from a direct life insurer (Malaysia)
Role Summary
As Pricing Assistant Manager, you will take a proactive and independent role in the end-to-end pricing process for new product development. You will work with minimal supervision, leading pricing projects, collaborating across departments, and ensuring regulatory and business requirements are met. You will support the manager in driving pricing excellence and provide guidance to junior team members.
Key Responsibilities
Product Pricing & Development
- Lead the pricing process for assigned new products, ensuring timely and accurate delivery.
- Independently test and validate pricing models and tools, ensuring their reliability and compliance.
- Compile and review product features, pricing assumptions, and profitability analysis with minimal guidance.
- Critically evaluate product specifications and documentation during product development, ensuring consistency with pricing strategy and regulatory requirements.
- Review policy documents and marketing materials, providing comprehensive feedback to ensure alignment with product design, pricing, and regulatory standards.
- Prepare and present pricing reports for internal and regional approvals.
- Coordinate and compile supporting documentation for new product submissions to BNM.
System Support
- Independently conduct and document User Acceptance Testing (UAT) for product and system value verification.
- Identify and resolve discrepancies between system calculations and actual pricing or product functionality.
- Lead updates and maintenance of Front End and Back End systems related to product pricing.
- Perform and oversee ad hoc calculations as required, ensuring accuracy and timeliness.
- Collaborate effectively with stakeholders including IT, New Business, Servicing, and other relevant teams.
Technical & Operational Support
- Provide ongoing technical advice and support to operations and cross-functional departments.
- Share expertise with junior team members and supporting their development.
Ad Hoc Responsibilities
- Support other pricing and product-related initiatives as assigned by management.
- Champion process improvements and contribute to a culture of continuous learning and innovation within the team.
Qualifications and Experience:
- Bachelor’s degree in Actuarial Science
- Minimum 4-5 years of experience in insurance product pricing or related field.
- Strong analytical and problem-solving skills; ability to work independently and manage multiple priorities.
- Proficient in pricing models, actuarial tools, and data analysis.
- Excellent communication and stakeholder management skills.
- Familiarity with regulatory requirements and product submission processes.
- Experience with UAT and system support is an advantage.