Senior Manager & ALM Lead from a Direct Life Insurer (Malaysia)
About the job:
The Senior Manager & ALM Lead leads Financial Planning & Analysis and Asset Liability Management, giving the CEO, CFO and senior management a clear, forward-looking view of financial performance, outlook, risks and value drivers. The role turns financial analysis into actionable recommendations, leads cross-functional initiatives that strengthen business performance, and provides authoritative challenges on financial decisions. As the company’s ALM lead, the role is accountable for strategies and management actions that protect policyholder obligations while optimising investment income, liquidity and capital within the company’s risk appetite and regulatory requirements.
Key Responsibilities:
FP&A
- Executive financial insight and decision support:
Lead the development, interpretation and presentation of management reporting to the CEO, CFO and senior management, providing a clear view of performance, outlook, emerging risks and key value drivers.
- Financial performance improvement:
Identify the financial levers that can improve business results, recommend practical management actions and drive agreed initiatives through to implementation and measurable outcomes.
- Business planning and financial projections:
Lead actuarial input into the Business Plan, Strategic Plan and other forward-looking projections, working across Finance, IFRS 17 and Statutory Reporting teams to ensure a coherent company outlook.
- Profitability and value management:
Own the analysis of new business profitability, including value of new business and new business contractual service margin, and translate results into recommendations on product, channel and business mix.
- Financial risk, stress testing and management actions:
Lead Financial Condition Testing and other stress-testing activities, assess the financial implications of assumption changes and management actions, and support timely escalation and decision-making.
- Regional reporting and actuarial governance:
Ensure accurate and timely delivery of financial key performance indicators, quarterly assumption change and management action reporting, and the Appointed Actuary Report to the Sun Life Asia regional office.
ALM
- Balance-sheet, capital and investment income optimisation:
Lead the development of asset-liability strategies and management actions that improve risk-adjusted investment income and capital efficiency, while maintaining appropriate protection for policyholder obligations and the company’s solvency position.
- Investment strategy and asset allocation:
Lead the annual review and ongoing refinement of investment strategy with the Investment and Risk teams, using liability characteristics, market outlook, capital implications and risk appetite to guide asset allocation and support sustainable financial returns.
- Asset-liability risk and liquidity management:
Maintain a forward-looking view of duration, cash-flow and liquidity mismatches through regular monitoring, stress testing and market-risk sensitivity analysis, so that emerging exposures are identified early and corrective actions are taken before they threaten earnings, capital or liquidity.
- ALM governance and executive decision support:
Provide clear analysis and recommendations to the Asset Liability Committee, ensuring that material actuarial and balance-sheet matters are understood, challenged and translated into timely management decisions.
- Liquidity resilience and contingency planning:
Own the actuarial input into the company’s Liquidity Contingency Plan and test the adequacy of available liquidity under adverse conditions, enabling the company to meet obligations and respond effectively during periods of market or business stress.
- Cross-functional execution and regional alignment:
Chair the Asset Liability Management Working Group and coordinate with Investment, Risk, Finance and the regional ALM team to resolve issues, implement agreed actions and maintain alignment with company and regional standards.
Experience Studies
- Experience analysis and assumption governance:
Coordinate the delivery of experience studies to identify emerging trends and maintain a robust evidence base for financial assumptions.
- Management recommendations:
Recommend and clearly communicate well-supported assumption changes and management actions, so that financial reporting and business decisions reflect current experience.
Ad-hoc Tasks and Projects
- Strategic projects and emerging priorities:
Lead or provide actuarial and financial expertise on priority initiatives, bringing structure, insight and cross-functional coordination to support sound decisions and successful delivery.
Skills:
- Strong command of actuarial principles, financial reporting, and Malaysian life insurance and takaful regulation, with the ability to apply these across FP&A and ALM decisions
- Use of generative AI tools
- Analytical and problem-solving skills
- Effective communication and presentation
- Stakeholder management
Qualification:
- Qualified or nearly qualified actuary with a recognised actuarial professional body
Experience:
- Around 10 years of relevant working experience in life insurance setting.
- Any FP&A and ALM experience would be an advantage
- Experience in managing a team