Manager / Senior Manager, Capital Management and Retakaful

About FWD Group

FWD Group is a pan-Asian life and health insurance business with more than 12 million customers across 10 markets, including some of the fastest-growing insurance markets in the world. The company was established in 2013 and is focused on changing the way people feel about insurance. FWD's customer-led and digitally enabled approach aims to deliver innovative propositions, easy-to-understand products and a simpler insurance experience.

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About FWD Takaful Berhad

FWD Takaful Berhad ("FWD Takaful") is a takaful provider in Malaysia that offers family takaful services. FWD Takaful is licensed under the Islamic Financial Services Act 2013 and is regulated by Bank Negara Malaysia. FWD Takaful is a takaful business unit of FWD Group.

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Join us

We're proud to be a company that encourages and nurtures fearless innovation in achieving our vision of changing the way people feel about takaful. Our teams come from a wide variety of industries and backgrounds because we value developing a truly diverse pool of talent that brings different perspectives and experiences. Our values – committed, innovative, proactive, open, and caring – define who we are and what we do as we work together to bring our vision to life, every single day.

• Prepare and analyse actuarial financial reporting in relation to regulatory, management and retakaful

• Ensuring company solvency position remain healthy while optimising profitability and capital efficiency

• Review and coordinate the retakaful arrangement and ensure all retakaful treaty / addendum are signed on time

• Determine the surplus distributable for the financial year

• Act as an actuarial model coordinator between end users and FWD TIM

• Lead and manage projects where relevant

• Assist the Appointed Actuary (AA) in preparing the Financial Condition Report

• Prepare the experience studies and propose appropriate assumptions to be used for valuation / pricing purposes.

• Review and perform UAT for actuarial model enhancements and ensure proper documentation in compliance with guidelines and policies.

• Ensure all actuarial related internal and groupwide policies / framework, regulatory guidelines are implemented effectively

• Provide technical actuarial support to various functions where required

• Develop, motivate and mentor the team members and prepare them for greater job responsibility

PURPOSE

• Prepare and analyse actuarial financial reporting in relation to regulatory, management and retakaful
• Ensuring company solvency position remain healthy while optimising profitability and capital efficiency
• Review and coordinate the retakaful arrangement and ensure all retakaful treaty / addendum are signed on time
• Determine the surplus distributable for the financial year
• Act as an actuarial model coordinator between end users and FWD TIM
• Lead and manage projects where relevant
• Assist the Appointed Actuary (AA) in preparing the Financial Condition Report
• Prepare the experience studies and propose appropriate assumptions to be used for valuation / pricing purposes.
• Review and perform UAT for actuarial model enhancements and ensure proper documentation in compliance with guidelines and policies.
• Ensure all actuarial related internal and groupwide policies / framework, regulatory guidelines are implemented effectively
• Provide technical actuarial support to various functions where required
• Develop, motivate and mentor the team members and prepare them for greater job responsibility

KEY ACCOUNTABILITIES

• Accurately determine the statutory reserve, capital level and sensitivities for regulatory, management reporting within agreed timeline
• Prepare information in relation to capital monitoring such as but not limited to stress test and scenario test
• Prepare local solvency reporting for management and group which include base and all sensitivity test
• Provide support for Internal Capital Adequacy Assessment Process (ICAAP) with focus on ITCL and TCAR determination and stress scenario determination
• Accurately determine the retakaful contribution and recoveries and prepare Bordereaux within agreed timeline.
• Review and coordinate the retakaful treaty for new and inforce treaties while ensuring it comply with internal policies.
• Ensure the surplus distributable are computed in accordance with internal policy and accurately.
• Being the main coordinator between local and TIM office for all Prophet modelling developments including modelling of new products, model enhancements, UAT and Documentation sign-off
• Perform experience studies (including detail monitoring) and highlight any trends observed to management.
• Ensure all group policies are localised and implemented effectively in daily tasks
• Lead and manage projects assigned and ensure projects are running on track and complete on scheduled with high quality
• Develop and maintain a highly motivated team while provide support and guidance to ensure their career development and progress.

KEY PERFORMANCE INDICATORS

• Quality and timeliness of delivery for all reports / results
• Successfully implemented all regulatory requirements including new regulatory development as well as group policies
• Effective controls and checks are implemented
• Models developed by FWD TIM is in compliance with modelling framework and well documented

EXTERNAL & INTERNAL CONTACTS

• Country functional heads
• FWD TIM Malaysia
• Group Actuarial / Group Finance / Risk
• Bank Negara Malaysia (BNM)
• Internal/External Auditors/Reviewers
• Retakaful Operators

QUALIFICATIONS / EXPERIENCE

• Minimum 6 years of working experience in actuarial field
• At least a Bachelor's Degree in Actuarial Science or Mathematics
• Good progress with examinations from Recognised International Actuarial Bodies (e.g. IFOA, SOA, IOAA)

KNOWLEDGE & TECHNICAL SKILLS

• Proficiency in Excel and Prophet
• Sound technical knowledge in actuarial valuation
• Highly analytical and inquisitive with attention to details
• Able to work well in a team and also deliver as an individual contributor
• Results driven and adaptable with good interpersonal and strong written and communication skill

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