Senior Manager, Regional Actuarial Audit

  • 35671
  • Non-Life - Actuarial
  • |
  • Malaysia
  • |
  • Aug 21, 2019
Insurance
RESPONSIBILITIES
  • Reviews calculations and methodologies used in examining technical provisions, insurance-related reserves for local regulatory and IFRS reporting purposes.
  • Reviews calculation and methodology used to determine the Minimum Capital Required, as well as its adherence to the criteria established by the specific legislation inspecting authority.
  • Reviews data accuracy and exhaustiveness.
  • Evaluates and tests the sufficiency of internal process. This encompasses the claims and reserving processes.
  • Provides recommendations for improving the actuarial valuation process, including how information is presented in the actuarial valuation report and in other communications.
  • Conducts audit assignments, identifying operational shortcomings; reviews compliance with regulatory requirements and internal control policy procedures, policy and sound business practices; and makes recommendations for improvements within the budgeted time and cost, as well as based on department guidelines and standards.
  • Prepares detailed audit programs in line with agreed scope, terms of reference and objectives to deliver an effective audit.
  • Writes reports summarizing all findings and finalizes in close-out meetings with the relevant Business Managers.
  • Builds and maintains effective working relationships with the process owners and business management to help improve the effectiveness and efficiency of internal controls and business processes.
  • Tracks and follows up on open audit issues.
  • Provides ongoing feedback to the internal audit team.
  • Oversees and provides quality control of the audit work to ensure department guidelines and standards are met.
  • Undertakes the performance and completion of unscheduled/ ad-hoc reviews as and when required.
  • Monitors progress and adequacy of actions taken to rectify audit issues.
  • Conducts other assignments and assumes responsibility for other tasks.
QUALIFICATIONS
  • Preferably has a degree in quantitative discipline such as Actuarial, Finance, Economics, Statistics, Insurance, Risk Management, etc.
  • Minimum 5 years of hands-on actuarial experience preferably in the insurance industry.
  • In-depth knowledge on insurance and actuarial.
  • Proficiency in actuarial tools will be added advantage.
  • Actuarial analysts who have got good number of years of experiences but not aiming to become qualified actuaries are encouraged to apply.
  • Understand local insurance markets, regulatory requirement and best practices.
  • Good knowledge of valuation and pricing for general insurance liabilities.
  • Strong data analytical and problem-solving ability.
  • Able to work independently with minimum supervision.
  • Competent knowledge IIA standards will be added advantage.
  • Excellent written and verbal communications skills.
  • Strong interpersonal and relationship management skills.
  • Ability to stay abreast of key regulations and be able to assess their impact on the internal audit process.
  • Ability to collaborate cross-functionally.
  • Ability to effectively tailor messaging to varying audiences.
  • Ability to understand a wide range of products, business processes and systems.
  • Ideally have internal audit experience within general insurance industry.
  • Detailed technical knowledge of Claims and Underwriting would be beneficial.
  • Work experience in another audit role, risk management, compliance or finance would be an advantage.
  • Excellent problem-solving ability and interpersonal skills.
  • Strong leadership skills.
  • The ability to work to deadliness.
  • Willing to travel across the region.
  • Experience of working in a multinational company.