Valuation RBC2 Manager from a direct life insurer (Malaysia)
Job Purpose
Support and drive key workstreams for the implementation of RBC2 across the division, including methodology development, operating guidelines, model enhancement and parallel reporting. The role coordinates cross-functional stakeholders, performs and reviews capital impact assessments, supports industry and BNM engagements, and helps transition RBC2 into a sustainable business-as-usual operating model by 2029.
Responsibilities
RBC2 Framework, Governance and Regulatory Support
- Support the development, approval and maintenance of RBC2 methodology, operating guidelines and implementation roadmap, with clear documentation and escalation of key decisions.
- Coordinate the division’s input for industry working groups, regulatory consultations and BNM engagements, including preparation and review of QIS-type submissions.
- Help ensure RBC2 implementation is supported by robust governance, controls, documentation and clear tracking of open issues, risks and remediation actions
Model Development, Testing and Capital Impact Analysis
- Manage the day-to-day design, build, testing and validation of Prophet models and related tools required to implement RBC2 mechanics.
- Coordinate parallel RBC1/RBC2 runs, model changes, impact studies and management reporting to ensure results are reliable, explainable and decision-useful.
- Analyse material assumptions, modelling judgements and limitations, and recommend remediation actions arising from validation, review or management challenge.
Enterprise Coordination and Strategic Integration
- Work with Product, Finance, Risk, Investment and Reinsurance stakeholders to assess RBC2 implications for capital management, ALM, product strategy and reinsurance arrangements.
- Translate technical analysis into clear insights, recommendations and implementation actions for senior management review.
- Support capability building, process readiness and transition planning to embed a sustainable RBC2 BAU operating model by 2029.
Skills
- Strong knowledge of actuarial valuation, RBC/RBC2 capital framework, statutory reporting controls, spreadsheet management and data analysis.
- Hands-on experience with Prophet actuarial software, model testing, validation, assumption review and capital impact analysis.
- Ability to translate technical actuarial results into clear management insights and practical implementation actions.
- Competent use of spreadsheets, Prophet valuation software, workflow documentation tools and generative AI to improve efficiency and controls.
- Able to guide junior team members and coordinate project resources without direct line management responsibility.
Qualifications
- Degree in Actuarial Science or similar; near-qualified or qualified actuary preferred.
- Minimum 6 years of actuarial work experience, preferably with statutory valuation, capital management, RBC/RBC2 implementation, Prophet modelling and regulatory reporting exposure.