Assistant Vice President, Actuarial Services

2 days ago

Damansara Selangor, Malaysia Takaful IKHLAS Full time 120,000 - 240,000 per year

COMPANY

  • Takaful Ikhlas
    FAMILY
    Berhad

JOB PURPOSE

  • To support the VP on modelling enhancements, controls and governance process.
  • To review functional checks, impact analysis and change forms for any DCS/Prophet modelling enhancement, including new product modelling and Prophet coding corrections.
  • To review and guide junior on annual experience studies on actuarial persistency assumptions to be used in actuarial valuation.
  • To provide support or provide revision on required ad-hoc duties pertaining to actuarial modelling and valuation requirements.
  • To act as project manager for assigned internal modelling project plans.
  • To delegate and review recurring modelling governance tasks such as User Access Reviews and Annual Model Review.
  • To regularly liaise with external consultant on Prophet model enhancement requirements.
  • To be a team player and support the MFRS17/ special projects/ NBV division if resources are constraint.
  • To take up leadership role and guide junior staff on actuarial fundamentals, Prophet modelling functions and reporting requirements such as RBCT, MFRS17 and NBV.

JOB RESPONSIBILITIES

Modelling controls and governance

  • To initiate and supervise recurring modelling governance and control requirements on a periodic basis.
  • Preferably to provide input on how to enhance the existing controls to ensure a robust model checking process.
  • To execute the project independently and provide clear direction to the team.

DCS program and Prophet model maintenance and UAT

  • To review checks done by the working level on DCS program for any data extraction errors.
  • To develop and execute a UAT plan to ensure the Prophet model has been enhanced accurately and appropriately.
  • To review functional checks of the Prophet model development to ensure functionality has been developed up to expectation.
  • To review impact analysis to assess impact of Prophet model development.
  • To review monthly change forms for every Prophet model release.

To review and provide input for the persistency experience studies to develop actuarial assumptions to be used in actuarial reserving.

  • To provide input and recommend enhancements to add value to existing experience study in terms of reconciliation accuracy and efficiency of templates.
  • To share past experience/knowledge on how to optimize persistency assumptions for appropriate assumption setting.

To support MFRS17/ special projects/ NBV division in the event of resource constraints.

  • To be a team player and give another set of working hands if other teammates are too occupied with tasks.
  • To evenly distribute the workload between teams in the modelling division in the actuarial services department.

To guide and teach junior staff and/or fresh graduates on fundamental actuarial skillset

  • Priority is on Prophet modelling technical skillset.
  • Secondary is on actuarial fundamentals (i.e.: cashflow projection) and local reporting requirements (RBCT / MFRS17)

QUALIFICATION & EXPERIENCE

Academic

  • Bachelor's degree in actuarial science.

Professional

  • Good progress in actuarial examinations in accredited actuarial society bodies.

Experience

  • 8 – 10 years' experience, preferably with prior exposure to actuarial valuation managerial role, hands-on experience with the Prophet software and/or in-depth knowledge of the local Malaysian reporting standards.

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