Senior Manager, Group Actuarial

About FWD Group

FWD Group is a pan-Asian life insurance business with approximately 11 million customers across 10 markets, including some of the fastest growing insurance markets in the world. Established in 2013, FWD is focused on making the insurance journey simpler, faster and smoother, with innovative propositions and easy-to-understand products, supported by digital technology. Through this customer-led approach, FWD is committed to changing the way people feel about insurance.

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FWD Technology and Innovation Malaysia Sdn. Bhd., known as FWD TIM, was set up in late 2019 and is part of the FWD Group. FWD TIM in Malaysia is one of the FWD Group’s office locations serving multiple markets within FWD Group and employing team members in various functions including Group Digital & Data, Digital Innovation, the IT Hub and our Centre of Excellence comprising Actuarial, Finance and Product Proposition functions.

PURPOSE

Support the Head of TIM IFRS17 and actively contribute to building the TIM IFRS17 CSM Development team by:

Leading and managing the development, implementation, and maintenance of the FWD centralised IFRS17 CSM model for all business units ("BUs") while ensuring the modelling are implemented in accordance with the Group model governance policy

Leading and managing the resource in supporting various Actuarial initiative/project requested by the Group Office and BUs across FWD group

Be the technical Actuarial expertise for key functional domains of the FWD centralised IFRS17 CSM model

KEY ACCOUNTABILITIES

1. As the Team Lead:

Lead, coach and manage team’s performance, development and morale to ensure team members achieve their goals according to the expected performance standards.

Manage the workload of the team and ensure adequate resource allocation in work arrangement

Assist in the hiring of good talent

Coordinate and manage incoming service requests

2. As the IFRS17 CSM Development Lead:

Lead and manage the maintenance and enhancement of the FWD centralised IFRS17 CSM model for all business units, and ensure quality and on-time delivery of work

Lead the developer team to provide trouble-shooting support to the IFRS17 CSM Operation team, Alteryx team, BUs and Group Actuarial during result production

Demonstrate up-to-date expertise through consultation, advisory and guidance in the development, execution and process improvement

Manage relationships and expectations of Group Office, BUs and other key stakeholders by developing a communication process to deliver services within the agreed scope

Review the checking and regression test performed by the team and explain any model change impacts, and maintain documentations for key stakeholders

Resolve and where necessary, escalate and communicate unprecedented and complex issues to Head of TIM IFRS17 and BUs on a timely manner

Responsible to ensure the compliance with the Group policies and control framework, as well as ensuring team’s understanding and application of the policies

3. As the SME of the FWD centralised IFRS17 CSM model:

Oversee, guide and provide functional expertise for the development, delivery, quality assurance and maintenance of FWD centralised IFRS17 CSM model in accordance with the FWD Group Actuarial standards and policies and applicable regulatory requirements

Exercise judgment and business acumen to provide SME advice and guidance in selecting methods and techniques to deliver as well as support functional and technical modelling solutions and planned / ad-hoc project requests

Provide technical and functional steer and advice on key functional domains as necessary to local BU team and function heads

Discuss improvement opportunities in the Centralized IFRS 17 CSM model and processes with the team and provide advice on how to implement the improvement ideas

4. Set project priorities for the team and oversee all projects deliverables including planning and managing the resources in delivering the Actuarial initiative/projects from Group Actuarial and business unit.

KEY PERFORMANCE INDICATORS

Effectiveness of the 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, ALM Committee and IFRS17 Project Steering Committee

Local Country CA, CFO, CRO and function head

Head of TIM IFRS17

QUALIFICATIONS / EXPERIENCE

8 to 10 years insurance experience in actuarial functions

Fellowship or nearly fellowship member of an internationally recognised actuarial professional body

KNOWLEDGE & TECHNICAL SKILLS

Experienced in Prophet design and modelling

Strong understanding of Actuarial valuation processes and IFRS17 are preferred

Strong analytical skills

COMPETENCIES

Strong team leadership and management skills

Strong facilitation, negotiation and problem resolution skills

Strong 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

OTHERS

Flexible to travel

R-0019591