Non-Motor Pricing Lead

Non-Motor Pricing Lead

Purpose

• Performing analytical and actuarial pricing duties in order to provide strong data governance and highly accurate data and analyses for use by more senior pricing actuaries in relation to reserving, reporting, quantitative risk management or the pricing of business.
• Advise on the pricing and design of new products (covering technical and market-based pricing), with a focus on protection products.
• Solves business challenges with statistical and predictive modeling techniques such as Exposure Curves, GLMs, machine learning, decision trees, probability networks, association rules, clustering, regression, and neural networks and their application to business decisions.

Key Accountabilities

• Lead and develop a high-performing actuarial pricing team to deliver accurate and timely pricing solutions.
• Oversee the development, implementation, and maintenance of models such as but not limited to pricing, capital, P&L, APMP, ZRC, conversion and retention ensuring alignment with business objectives and regulatory requirements.
• Perform complex statistical analyses, data mining, and modeling to support pricing and financial decisions.
• Leverage advanced analytical techniques to identify trends, assess risks, and optimize pricing strategies.
• Ensure data integrity through robust data governance practices.
• Manage data collection, cleaning, and validation processes.
• Develop and maintain pricing databases to support model development and analysis.
• Collaborate closely with business partners to understand their needs and provide actuarial expertise.
• Communicate complex technical information effectively to both technical and non-technical audiences.
• Support business decision-making through insightful statistical and actuarial analysis and recommendations.
• Drive new product development initiatives through actuarial pricing expertise.
• Conduct market analysis and competitor benchmarking to inform pricing strategies.
• Develop and implement pricing methodologies for new products.
• Maintain compliance with actuarial standards and regulatory requirements.
• Prepare and submit required pricing reports and product documentation in navigating local filings and global product/risk authority approval process.
• Stay updated on industry trends and regulatory changes.
• Guide, train and mentor and professional development of pricing staff under supervision.
• Monitor business unit’s performance through actuarial and financial measures on key performance indices and present deep dive results & variances in company’s forum.
• Participate and contribute to business unit’s Country Underwriting Plan and other quarterly business review event.
• Support business unit’s Propositions in new product development and repricing/refresh initiatives with a focus on protection products and identify opportunities/need for product repricing in protection, based on demand from Business Units (BUs) and competitive landscape from market trends.
• Demonstrate and continuously expand increasing knowledge of actuarial disciplines and procedures to build value adding, relevant technical knowledge.

Performance Management Accountabilities

• Demonstrate commitment to corporate values.
• Take accountability for participating in the performance management cycle.
• Take action to improve team performance on the job.
• Provide input into team performance management discussions of project team members.
• Educate team members and business partners in the area of technical expertise.
• Assist and support co-workers.
• Take action to manage own/team personal development and encourage others to do the same.

Skills

• Having strong language proficiency (listening, speaking and writing) in Malay and English
• Critical Thinking – Proficiency Level Advance
• Problem Solving - Proficiency Level Advance
• Statistical Concepts - Proficiency Level Expert
• Actuarial Pricing Concepts – Proficiency Level Intermediate
• Actuarial Reserving Concepts – Proficiency Level Intermediate
• Probability - Proficiency Level Advance
• Effective Communication - Proficiency Level Intermediate
• Stakeholder Management - Proficiency Level Advance
• Relationship Management - Proficiency Level Intermediate
• Leadership – Proficiency Level Intermediate
• Data Tools and Management Literacy - Proficiency Level Advance

Education and Experience

• Bachelors degree in Actuarial Science, Data Analytics, Mathematics, Statistic, or equivalent in relevant field at minimum.
• Typically four or more years of experience in related field.
• Pursuing professional actuarial qualification (UK, US or Australia)
• Having experience in working with either of these programming statistical tools such as MS Excel-VBA, Power BI, SAS, SQL, R, Python, Emblem, Radar or Prophet.

Disclaimer and Caveat

This job profile is not designed to cover or contain a comprehensive list of all duties, responsibilities and activities that may be required in this job. Further, duties, responsibilities and activities may change from time to time due to business needs of the Company. This job profile is a guideline only and does not establish any type of guarantee as to duties, responsibilities and activities and, in Malaysia, it does not alter the at-will employment status of your employment.