Manager, Actuarial Pricing (GETB)

To provide technical support in product pricing and to ensure the key profit criteria is met which in line with company’s business strategy, regulatory requirements and risk management frameworks.

Key Responsibilities

Pricing Framework

• Support supervisor in products pricing which comply with GETB's Product Pricing Policy and align with regulatory requirements and risk management frameworks.

• Prepare pricing assumptions, Product Development Committee presentation materials, Product Pricing Review Template, sample cash flow breakdown, Product Documentation to BNM and other pricing related documents.

• Ensure product designs are in accordance with regulations and guidelines.

• Assist in product implementation and system maintenance by performing User Acceptance Testing (UAT).

• Review marketing materials such as Certificate Documents, Benefit Illustrations, Product Disclosure Sheet, training slide, etc.

• Perform actuarial calculations and data validations to ensure pricing accuracy.

Actuarial Model Development & Experience Analysis

• Prepare or update pricing model for new products / enhancements.

• Assist in preparing Annual Product Review and Post Implementation Product Review.

• Carry out annual experience study and relevant analysis to support the derivation of actuarial assumptions. Provides the recommendations based on the analysis results.

• Prepare report and presentation for pricing analysis.

• Assist in competitor analysis and market research.

Stakeholder Engagement

• Active discussion with Product Working Group and other Business units for new product initiatives/enhancement.

• Liaise with Retakaful Operator (RTO) on getting supports for new products/enhancements.

Regulatory & Governance Compliance

• Assist in preparing Bank Negara Malaysia (BNM) Product Documentation and other regulatory submission.

• Ensures that product pricing is in accordance with the regulatory requirements as per Pricing Compliance Checklist.

• Support actuarial documentation processes.

Collaboration and Learning

• Collaborating effectively with the team (internal and external) to deliver high quality work.

• Mentoring junior staffs by providing guidance in their daily tasks.

• Develop technical and analytical skills through hands-on experience and training.

• Possesses a Bachelor's degree in Actuarial Science, Mathematics, Statistics, or a related field. Good progress in actuarial professional exams.

• Have minimum 3 - 5 years of actuarial experience, with pricing exposure in insurance/takaful company.

• Possesses analytical, communication, problem solving skills.

• Knowledge of insurance/takaful products and financial markets, and good understanding of Takaful Principles.

• Relevant knowledge for Microsoft Excel, Microsoft Words, Macros and Visual Basis.

• High level of integrity, takes accountability of work and good attitude over teamwork.

• Take initiative to improve current state of things and adaptable to embrace new changes.

• Champion and embody our Core Values in everyday tasks and interactions.
• Demonstrate high level of integrity and accountability.
• Take initiative to drive improvements and embrace change.
• Take accountability of business and regulatory compliance risks, implementing measures to mitigate them effectively.
• Keep abreast with industry trends, regulatory compliance, and emerging threats and technologies to understand and highlight potential concerns/ risks to safeguard our company proactively.

Founded in 1908, Great Eastern is a well-established market leader and trusted brand in Singapore and Malaysia. With over S$100 billion in assets and more than 16 million policyholders, including 12.5 million from government schemes, it provides insurance solutions to customers through three successful distribution channels – a tied agency force, bancassurance, and financial advisory firm Great Eastern Financial Advisers. The Group also operates in Indonesia and Brunei. The Great Eastern Life Assurance Company Limited and Great Eastern General Insurance Limited have been assigned the financial strength and counterparty credit ratings of "AA-" by S&P Global Ratings since 2010, one of the highest among Asian life insurance companies. Great Eastern's asset management subsidiary, Lion Global Investors Limited, is one of the leading asset management companies in Southeast Asia. Great Eastern is a subsidiary of OCBC, the longest established Singapore bank, formed in 1932. It is the second largest financial services group in Southeast Asia by assets and one of the world’s most highly-rated banks, with an Aa1 rating from Moody’s and AA- by both Fitch and S&P. Recognised for its financial strength and stability, OCBC is consistently ranked among the World’s Top 50 Safest Banks by Global Finance and has been named Best Managed Bank in Singapore by The Asian Banker.