Senior Manager, Product and Actuarial Pricing

Head of Product & Pricing

The role includes delivering the full product life cycle (i.e.: proposition, development, launch, and review) of the company's new products, as well as managing and monitoring existing products. The role is also responsible for the end-to-end product pricing and premium rating processes to ensure competitiveness and profitability of the products to meet the required return to shareholders. This role has a direct reporting line to the Chief Executive Officer (CEO).

Key Responsibilities

• Translating business, market, and partner needs into product propositions in the development of new, innovative insurance/takaful products
• Managing the product development process, budget, and timetable across the whole product life cycle from proposition, to development, to launch, and to review, including coordinating the Product Development Committee as the secretariat
• Liaising with stakeholders from across all departments involved to ensure successful integration of new product to company operations
• Partner with internal functions to integrate product features into daily operations, including initiating process digitalization and improvements
• Managing on-going profitability and affordability across the product line in accordance with the agreed targets.
• Negotiate with reinsurers/retakaful operators and develop suitable reinsurance/retakaful structures for products requiring reinsurance/retakaful
• Be the main liaison between the company and the reinsurers/retakaful operators in all regards especially on the product and pricing related matters including administering the quarterly bordereaux and raising the payment vouchers to Finance for payment to the reinsurer/retakaful operator
• Design and develop pricing models and methodologies in line with actuarial principles and regulatory requirements
• Assess and develop the underlying pricing assumptions and cash flows
• Ensure compliance with internal product and pricing policies, processes, profit margins and regulatory guidelines to obtain approval/filing for product launches
• Ensuring actuarial related pricing parameters set up for new products
• Perform User Acceptance Testing on all product and pricing related technology developments.

Key Requirements:

• Between five (5) to ten (10) years of experience in product development and pricing of life insurance and/or takaful products
• Experience in filing products to BNM and liaising with and responding to queries from BNM or any other external stakeholder
• Understanding of the life insurance and takaful products and current products in the market
• Experience liaising with reinsurers and retakaful operators and able to challenge the proposal or rates of the reinsurer/retakaful operators
• Demonstrated experience of working independently and able to work well with other internal stakeholders in delivering the outcomes in the product roadmap
• Have demonstrated progress towards the completion of relevant actuarial examinations
• Excellent presentation and communication skills and able to present to stakeholders when required e.g. management, Board, potential distribution partners and/or BNM presentation

How To Apply

To apply, please click "APPLY NOW" or email Kim at kimyie.lee@ambition.com.my. Data provided is for recruitment purposes only.

Due to the volume of applications received, we regret to inform you that only shortlisted candidates will be notified.

JTK Number: JTKSM 995 | Company Registration Number: 201301019088 (1048918-T)

If this job isn't quite right for you, but you know someone who would be great at this role, why not take advantage of our referral scheme? We offer MYR500 in shopping vouchers for every referred candidate who we place in a role. Terms & Conditions Apply. https://www.ambition.com.my/refer-a-friend