Job Listing

About the Job
Responsible for the timely and accurate delivery of competitive and sustainable pricing strategies for key distribution channels, ensuring that profit criteria are met and aligned with the company’s business strategy, regulatory requirements, and risk management frameworks.

Key responsibilities
Strategic Leadership & Pricing Framework
- Develop and execute pricing strategies that balance competitiveness and profitability which comply with the company's Product Pricing Policy.
- Oversee actuarial pricing models and ensure robust assumptions setting based on data driven insights.
- Ensure the team is delivering quality works by validating pricing assumptions, methodology, and verifying the results.
- Perform risk assessment to identify the risks associated with the product nature before the product launch and highlights the outcomes to stakeholders.
- Play a leading role in actuarial and pricing related projects and company-wide initiatives.
Actuarial Model Development & Experience Analysis
- Review of Annual Experience Studies, including claims trends, mortality/morbidity analysis and certificate holder behaviour.
- Monitor the performance of the product portfolio, identifying areas for pricing adjustments or product enhancements.
- Ensure accuracy and delivery of Annual Product Review and Post Implementation Product Review.
- Monitor claims experience and conduct claim analysis to provide insights to support management for informed decision making.
Business Collaboration & Stakeholder Engagement
- Work closely with Product Development, Underwriting, and Distribution teams to optimize product design and pricing strategies.
- Engage in discussions Product Working Group to ensure operational efficiency before the product launch.
- Proactive collaboration with internal stakeholders to support launches and implementation of new products.
- Proactive collaboration with Retakaful Operator to negotiate treaty terms, optimize reinsurance pricing structures and building knowledge base.
- Present actuarial findings to senior management, ensuring alignment with corporate strategy.
Regulatory & Governance Compliance
- Ensure comprehensive support to management team when liaising with regulatory authorities, industry bodies, and internal/external auditor in pricing-related matters.
- Prepare and review the submission of product documentation to BNM
- Provide analysis and justification for regulatory submissions, audit, board-level presentations or any ad-hoc request from regulatory,
- Maintain actuarial pricing policies and procedures to ensure transparency and consistency.
People Management
- Collaborating effectively with the team to deliver high quality work.
- Provide mentorship and technical guidance to junior actuarial team members, fostering a high-performance culture.
- Promote innovation and continuous improvement within the actuarial pricing function.
- Supervise the team with clear roles, responsibilities, and career development pathways.
 
We are looking for people who
- Bachelor's degree in Actuarial Science, Mathematics, Statistics, or a related field.
- Good progress in actuarial professional exams.
- Minimum 8-12 years of actuarial experience, with strong pricing exposure and leadership experience
- Strong analytical, communication, problem solving skills. Effective in team management.
- Knowledge of insurance / takaful products and financial markets, and good understanding of Takaful Principles.
- Demonstrates alignment with the organisation’s core values through expected behaviours

How you succeed
- Champion and embody our Core Values in everyday tasks and interactions.
- Demonstrate high level of integrity and accountability.
- Take initiative to drive improvements and embrace change.
- Take accountability of business and regulatory compliance risks, implementing measures to mitigate them effectively.
- Keep abreast with industry trends, regulatory compliance, and emerging threats and technologies to understand and highlight potential concerns/ risks to safeguard our company proactively.