Chief Actuarial Officer

3 days ago

Kuala Lumpur, Kuala Lumpur, Malaysia FWD Group Management Holdings Limited Full time

FWD Group Management Holdings Limited is a leading pan-Asian life and health insurance business, serving over 12 million customers across 10 markets. Our company was established in 2013 with a vision to change the way people feel about insurance.

At FWD TIM, we strive to deliver innovative propositions, easy-to-understand products, and a simpler insurance experience. As a pivotal shared service location within FWD Group, we provide essential business and technology services, including information security, cloud operations, IT solutions delivery, digital and data, actuarial, finance, investments, and customer service.

Job Purpose

  • To build an in-house Actuarial consulting hub by developing, implementing, and maintaining centralized Actuarial models for assigned business units while ensuring governance policy compliance.
  • To lead and manage the shared pool resource in supporting various Actuarial initiatives/projects requested by the group office and business units across FWD Group.

Key Accountabilities

  • As Team Lead: Lead, coach, manage, and promote team performance, development, and morale to ensure team members achieve their goals according to expected performance standards.
  • Manage shared pool resources and ensure adequate resource allocation in work arrangements.
  • Involve in hiring good talent.

Country Model Lead Key Responsibilities:

  • Lead and manage overall development and maintenance of centralized Actuarial models for business units, ensuring quality and on-time work delivery.
  • Demonstrate up-to-date expertise of Prophet modelling in development, execution, and improvement of modelling process.
  • Manage relationships and expectations of Group Office, business units, and other key stakeholders by developing communication process to deliver defined Prophet modelling services within agreed scope.
  • Review checking and regression tests performed by the team and explain any model change impacts, maintain model documentation for key stakeholders.
  • Resolve and where necessary, escalate and communicate unprecedented and complex modelling issues to Head of TIM Actuarial and business units in a timely manner.
  • Ensure compliance with Group Model Governance policy, including model documentation, modelling process, and control, as well as ensuring team's understanding and application of the policy.

Project Priorities and Shared Pool Resource Allocation

  • Set project priorities for the team and oversee all project deliverables, including planning and managing shared pool resources allocation to deliver expected Actuarial services or resources on a project basis.
  • Develop and maintain ALS model for asset and liability management, economic capital (EC), HKRBC reporting, IFRS17, and any other assignments from Group Actuarial.

Key Performance Indicators

  • Effectiveness of model maintenance process and project delivery.
  • Engagement and development of team members.
  • Value added to local business units.

External & Internal Contacts

  • Group Risk and Actuarial Committee, ALMCO Committee, and IFRS17 Project Steering Committee.
  • Local Country CA, CRO, investment/ALM teams, and function head.
  • Head of TIM Actuarial.

Decision Making

  • In accordance with Insurance Group delegated authorities.

Qualifications / Experience

  • 6 to 8 years of insurance experience in actuarial functions.
  • Fellowship or nearly fellowship member of an internationally recognized actuarial professional body.

Knowledge & Technical Skills

  • Strong Prophet modelling skills, knowledge on Prophet ALS is preferred.
  • Good understanding of valuation processes under USGAAP, statutory, and traditional EV, knowledge on EC/RBC and IFRS17 are preferred.

Competencies

  • Good team leadership and development skills.
  • Good facilitation, negotiation, and problem resolution skills.
  • Good strategic thinking: Ability to prioritize and balance multiple tasks or projects.
  • Strong analytical skills.
  • Good communication and presentation skills.
  • Fluent in English speaking and written skills.

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