Senior Actuarial Manager, Modeling

  • 38060
  • Life - Actuarial
  • |
  • Malaysia
  • |
  • Aug 27, 2020
Insurance
RESPONSIBILITIES
  • Lead and manage the modelling team to act as the regional hub of expertise to actuarial models.
  • Understand the existing Prophet and Excel models of company and drive the consistency of future model developments across entities in the region. Lead and maintain such models going forward.
  • Ensure an optimal design of infrastructure and functions of the new platform. Develop, for the region, the actuarial models and corresponding processes / guidelines in this platform.
  • Centrally manage the actuarial models within the team and provide advice to change requests from the region in a timely manner.
  • Ensure correct use of models to comply with Group and local regulatory requirements and actuarial work.
  • Keep abreast with the latest development of software and make sure adoption of functionalities to improve the models.
  • Develop new functionalities within and around the model to enhance the usability of the model across various Actuarial functions.
  • Transfer knowledge to the local teams via setting guidelines, coaching and training sessions.
  • Solidify the functionalities of the new & existing platform and gradually expand the role of the new model to a full spectrum of actuarial capabilities.
  • Lead new platforms with the ultimate goal of extending functions to other actuarial processes and across entities in Asia.
  • Maintain the solvency 2 model and expand it to other countries in the region.
  • Establish and implement standards and guidelines to the actuarial models to ensure good quality control within the region.
  • Take ownership of the models and its implementation and reliable usage across the region.
  • Ensure all cash flow projections are accurate, complete and meet company standards.
  • Ensure adequate documentation is in place for all model developments and modifications for a good control framework.
  • Develop best practices in software development to ensure efficiency and consistency in variable naming, coding and model structure.
  • Ensure the model is properly checked and validated before promoting it to production.
  • Identify and mitigate potential risks that may compromise the quality of the results from the Prophet and Sunrise model.
  • Manage and streamline requests from regional and local modelling teams to provide according services to ensure high quality deliverables meet users’ requirements.
  • Perform peer review on technical specifications prepared by local and regional teams. Ensure TS are clear, complete and properly communicated to the change originator.
  • Monitor the development and testing process and ensure it is in line with the agreed plan.
  • Ensure the entities changes are integrated into the Regional model.
  • Ensure proper documentation of changes to the model.
  • Work closely with the existing centralized Prophet modelling team on model development and new functionalities.
  • Liaise and provide input to various technical teams.
  • Suggest solutions for potential process improvements.
  • Manage the deliverables and resources of the modelling team.
  • Work closely with local entities and propose actuarial development or process improvement when appropriate.
  • Provide high quality, timely consistent, standardized services to internal stakeholders and entities.
  • Suggest team structure for existing and development teams.
  • Promote a positive, high performance working environment.
  • Coordination of works between regional IT team and software vendor on software related issues.
  • Recommend priorities, schedules and resources needed to conduct analyses in order to meet end users’ delivery requirements.
  • Estimate efforts on projects and analyses, skill levels required, and recommend turnaround times considering end users’ delivery requirements.
  • Recommend priorities for consideration when necessary.
  • Review, understand, monitor and project demands from local entities for actuarial resourcing.
  • Agree priorities with local entities.
  • Manage the revenue and expenses of the team’s operation and achieve a break-even objective.
QUALIFICATIONS
  • 10+ years of financial services industry experience, including 2+ years managerial experience and proven ability to lead a large team.
  • Preferably an Associate or Fellow of a recognized actuarial institute.
  • In-depth experience of actuarial modelling.
  • Strong knowledge and experience of valuation, financial reporting, product development and pricing.
  • Hands-on experience in operating a corporate actuarial function and in leading a team of actuaries.
  • Good understanding of IFRS, Market Consistent Embedded Value measures, Solvency II.
  • Good project management skills and experience in running sizable projects / assignments.
  • Asian regional experience desirable.
  • Ability to influence and collaboratively lead change.
  • Excellent verbal and written English communication skills required.