Appointed Actuary

Appointed Actuary

119987

Summary

As Appointed Actuary for Zurich Life Insurance, you will act as the statutory lead Actuary for the Life business and as a member of the Life Actuarial division providing financial insights to ZLIMB leadership and BODs on potential threats to the solvency of the company. You will lead a team responsible for managing the statutory reserving process for the Business Unit and ensure the quality of data used, as well as ensure the governance supporting the data quality assurance process is applied and adhered to.

Key Accountabilities

1. Insights to key stakeholders
   • Provide insights to CEO, Finance, Chief Actuary, Management, and Board to better understand the reserving decisions, the uncertainty in the result, impact of assumption changes, and trends on statutory reserves.
   • Communicate results selections, assumptions made, and enhanced reporting for management and other functions to support key business decisions.
   • Highlight trends and risks on future results to facilitate better-informed strategic decisions.
   • Support a culture of insight sharing through active engagement in virtuous circle meetings and regular communication with other functions.
2. Local statutory requirements met accurately and in a timely manner
   • Develop processes that increase efficiency, accuracy, and robustness of the statutory reserving requirements.
   • Enhance Actuarial report to support business decisions.
   • Ensure no missed deadlines or significant errors or omissions.
3. Reserves booked in finance accounts well understood and accurate
   • Work with Finance to enhance booking process to improve efficiency and accuracy of results.
   • Provide updates at monthly FAPC meetings on any assumption or model change that will impact the statutory reserves and hence the P&L and Balance sheet.
   • Collaborate with Family Takaful Actuarial team, Actuarial Regional Reporting team, and Actuarial IFRS17 team to ensure alignment and consistency with different reporting bases, e.g., MCEV, NBV, IFRS17.
4. Meet agreed improvements with regards to meeting Actuarial Standards
   • Certify that the valuation of policyholder liabilities is in accordance with generally accepted actuarial principles and practices.
   • Ensure valuation methods and assumptions are consistent with the applicable requirements set out by the regulators.
5. Highlight key trends in business composition
   • Prepare the Financial Condition Report (FCR) and report to the Board and management on any developments that may materially affect the financial condition of ZTMB or compromise the interests of policyholders.
   • Provide recommendations to the Board on the appropriateness of surplus distribution to participating policyholders and any relevant distribution to shareholders.
   • Apply appropriate tests to reasonably satisfy the completeness and accuracy of the current database of business used to perform the specific duties stated above.

Key Requirements

• Bachelor's degree in a relevant field such as Actuarial Science, Mathematics, Economics, Statistics, etc.
• 8-10 years of experience in the Life industry.
• Fully qualified Actuary, as recognized by the regulator and any other group/local requirements.
• Experience in multiple functional areas (reserving, pricing, capital management, etc.).
• Familiarity with BNM guidelines.
• Preferred candidate with experience in the local Malaysian Life Insurance and Takaful industry.

You are the heart & soul of Zurich!

At Zurich, we like to think outside the box and challenge the status quo. We take an optimistic approach by focusing on the positives and constantly asking, 'What can go right?' We highly value the experience and know-how of our employees and offer a wide range of opportunities across business areas to encourage you to apply for new opportunities within Zurich when you are ready for your next career step. We’re proud to have earned Great Place To Work Certification. Our company culture is our top priority! #GPTWcertified

Let’s continue to grow together!