Job Listing

Job Purpose
The job holder will work in the statutory valuation team and manage the statutory reporting process, with a direct reporting line to the Head of Statutory Valuation & Reporting.

This role involves delivering accurate and timely financial information and insights to the Head of Statutory Valuation & Reporting, as well as the key stakeholders within the Financial Discipline (FD) Pillar to support informed decision-making. Responsibilities also include regularly monitoring the Company’s profitability and solvency position, as well as identifying and highlighting potential regulatory changes. Additionally, this role acts as the Compliance Representative for the division, staying updated on the latest regulatory developments and ensuring adherence to all guidelines.

Responsibilities
Involve in the Statutory Valuation Team
- Ensure timely submission of reports / statistics to BNM, PIDM, MTA, and LIAM.
- Ensure compliance with relevant regulatory guidelines issued by BNM, PIDM, MTA, and LIAM.
- Timely computation of monthly reserving and preparation of quarterly valuation report.
- Provide analysis on the Company’s sources of surplus arising under statutory basis.
- Monitor Capital Adequacy Ratio (CAR) results on monthly basis; and to formally submit to Bank Negara Malaysia (BNM) on quarterly basis.
- Conduct Stress Tests and Financial Condition Report (FCR).
- Conduct analysis and testing to determine the appropriate dividend payout and provide recommendations to the Board regarding life fund surplus transfers.
- Conduct analysis on the appropriateness of distribution of Takaful Surplus and Investment Profit to Participants as well as any relevant distribution to the Shareholders’ or Operators’ Fund, as well as provide recommendation to the Board and Shari’ah Committee.
- Provide support as Peer Review Actuary in new product launching for SLMA under RO’s Peer Review & Financial Opinion initiatives (PR/FO).
- Assist in the annual review of the individual target capital level and capital management plan.
- Enhance/review existing BAU process to improve efficiency.
- Liaise with auditors during the year-end audit.
- Support the Chief Actuary & Appointed Actuary with various ad-hoc tasks as necessary.
- Ensure compliance on the works being performed and operate within risk tolerance limits, operating guidelines and policies

Experience Studies & Ad-Hoc Projects
- Complete assigned ACMA / experience studies within agreed timeline
- Review assumptions and methodologies to ensure alignment with actual data and accuracy of projections
- Keep up to date with new guideline issued by regulators and ensure successful implementation (e.g. RBC2 and enhanced regulatory statistical reporting)
- Engage in BNM's Climate Risk Scenario Analysis & Stress Testing as a member of the Sustainability Working Committee
- Proactive participation in the Company's initiatives to achieve sustainable growth and uplift profitability
- Participate in industry studies
- Ensure smooth and timely internal audit reviews
- Ensure compliance with the MEUC Policy by preparing comprehensive documentation for all models and calculators used.

Process Enhancement & People Management
- Continuously revamp and streamline existing BAU processes, enhancing efficiency and work quality.
- Develop processes that improve efficiency, accuracy, and robustness in meeting statutory valuation requirements.
- Capacity building for junior team members to strengthen their skills and capabilities.
- Plan resources effectively, leverage team members’ strengths, and ensure the team works in unity to achieve the Company’s objectives.

Support the Asset Liability Management function
- Work closely with the ALM team and provide timely support.
- Perform/review quarterly duration study, Capital-at-Risk assessment and preparation of ALCO slide.

Requirements
- Degree in Actuarial Science
- At least 8 years of working experience in the actuarial
- Qualified or nearly qualified actuary (with steady progress in actuarial exams) in one of the internationally recognized actuarial institution
- Actuarial principles and practices in life insurance environment.
- Knowledge of Malaysian regulatory framework.
- Excel spreadsheet management, data extraction programming, Prophet actuarial software