Assistant Manager, Internal Audit Actuarial

5 months ago

Kuala Lumpur, Malaysia FWD Insurance Full time

About FWD Group

FWD Group is a pan-Asian life insurance business with approximately 11 million customers across 10 markets, including some of the fastest growing insurance markets in the world. Established in 2013, FWD is focused on making the insurance journey simpler, faster and smoother, with innovative propositions and easy-to-understand products, supported by digital technology. Through this customer-led approach, FWD is committed to changing the way people feel about insurance.

For more information please visit

FWD Technology and Innovation Malaysia Sdn. Bhd., known as FWD TIM, was set up in late 2019 and is part of the FWD Group. FWD TIM in Malaysia is one of the FWD Group’s office locations serving multiple markets within FWD Group and employing team members in various functions including Group Digital & Data, Digital Innovation, the IT Hub and our Centre of Excellence comprising Actuarial, Finance and Product Proposition functions.

PURPOSE
- Support the AVP of Group Internal Audit in providing assurance to the Board, Executive Committee and Audit Committee on the overall effectiveness of risk management, control and governance process in FWD.

KEY ACCOUNTABILITIES
- Lead and/or carry out Internal Audit’s annual risk assessment and planning process to develop the three-year audit plan. Through regular and proactive interaction with management, as well as analysis of management information and business activities, ensure the plan is responsive to and aligned with the risk profile of the organization.
- Lead and/or carry out audits with the guidance from senior colleagues to determine audit steps per the approved testing strategy, perform testing, prepare meeting material and prepare audit issues, and review issue validation. Ensure internal audit work performed comply with Institute of Internal Auditor Standard.
- Prepare audit reports that clearly articulate control deficiencies and risks and impact. Ensure management develop action plans that address the identified control deficiencies in a timely manner.
- Proactively monitor status of corrective action plans. Identify and report possible past due action items to AVP of Group Internal Audit and management.
- Work with departmental heads in the markets and understand business processes and controls in order to conduct relevant and effective audit review of the markets/departments.

KEY PERFORMANCE INDICATORS
- Build and sustain excellent working relationships with senior stakeholders including Audit Committees members / Board Members.
- Represent the Internal Audit function in various committees and projects.
- Support the AVP of Group Internal Audit in developing and continuously reviewing on a periodic basis the risk-based audit plan for actuarial processes which is aligned to the Company's strategy.
- Provide updates and address feedback from relevant senior stakeholders on audit reports before issuance of audit reports.

EXTERNAL & INTERNAL CONTACTS
- Senior Stakeholders.
- Departmental heads of various functions within the markets and GO.

QUALIFICATIONS / EXPERIENCE
- Minimum 6 years of insurance experience in Actuarial Valuation with experience in Prophet Modelling.
- Experience in Stochastic Modelling will be an added advantage.
- Associate and above from Recognized International Actuarial Bodies (e.g. IFOA, SOA, IOAA).

KNOWLEDGE & TECHNICAL SKILLS
- Sound technical knowledge in both actuarial valuation and modelling.
- Highly analytical and inquisitive with attention to details
- Able to work well in a team and also deliver as individual contributor.
- Results driven and adaptable with good interpersonal and strong written and communication skill.
- Ability to establish and maintain strong relationship with stakeholders across all functions and all levels.
- Good understanding of Actuarial valuation processes, statutory and traditional EV, knowledges on EC/RBC and IFRS17 are preferred.

COMPETENCIES
- Strong interpersonal and communication skills, with ability to influence and challenge senior stakeholders, and build excellent working relationships.
- Strong project management, proactive approach to problem solving, owning the issues and having the determination to follow tasks/issues through.
- Rigorous thinking ability, with attention to details.
- Creative thinking, with think out of the box mentality.

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