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.
Role Overview
This role requires a seasoned actuarial professional to provide technical leadership and expertise in pricing and product development. The successful candidate will be responsible for complex data analysis, model development, and implementation, as well as mentoring junior staff and contributing to strategic business initiatives.
Core Accountabilities
- Data Management and Analysis:
- Oversee data quality and integrity, including reconciliation, risk factor management, and database maintenance.
- Conduct advanced statistical analysis and data manipulation to inform pricing and product decisions.
- Develop and implement data strategies to support business objectives.
- Model Development and Validation:
- Lead the development, implementation, and validation of complex pricing models.
- Perform in-depth model performance analysis and recommend enhancements.
- Stay abreast of industry best practices and emerging modeling techniques.
- Financial Analysis and Reporting:
- Produce comprehensive financial and statistical reports for senior management.
- Conduct in-depth analysis of portfolio performance and identify trends.
- Support business decision-making through insightful data-driven insights.
- Product Development:
- Lead pricing and product development initiatives, providing technical expertise and guidance.
- Conduct advanced market analysis and competitor benchmarking.
- Develop and implement pricing strategies to optimize profitability and market share.
- Team Leadership and Development:
- Mentor and develop junior actuarial staff.
- Foster a collaborative and high-performing team culture.
- Share knowledge and expertise to enhance team capabilities.
- Regulatory Compliance:
- Ensure adherence to actuarial standards and regulatory requirements.
- Support local regulatory filings and global group empowerment initiatives.
- Collaboration and Communication:
- Effectively communicate technical information to both technical and non-technical audiences.
- Collaborate with cross-functional teams to achieve business objectives.
- Contribute to a positive and collaborative work environment.
Core Competencies
- Proven experience in actuarial pricing and product development.
- Strong analytical and problem-solving skills
- Good foundation of statistical and modeling skills.
- Good self-initiatives and mentoring abilities.
- Proficiency in any relevant statistical software and programming languages (e.g., VBA, SAS, Python, R, or SQL)
- Strong foundation understanding of actuarial principles and practices on pricing methodologies
- Excellent communication and interpersonal skills.
- Attention to detail and accuracy
- Have progress towards actuarial qualifications or other professional equivalent
- Experience with data visualization tools
- Understanding of local BNM regulatory requirement in General Insurance and General Takaful landscape
Performance Management Accountabilities
- Demonstrate commitment to corporate values.
- Take accountability for participating in the performance management cycle.
- Take action to improve performance on the job.
- Provide input into performance management discussions of project team members.
- Educate team members and business partners on area of technical expertise.
- Assist and support co-workers.
- Take action to manage own personal development and encourage others to do the same.
Skills
- Having strong language proficiency (listening, speaking and writing) in Malay and English
- Analytical & Critical Thinking – Proficiency Level Intermediate
- Problem Solving - Proficiency Level Intermediate
- Statistical Concepts - Proficiency Level Intermediate
- Actuarial Pricing Concepts – Proficiency Level Intermediate
- Actuarial Reserving Concepts – Proficiency Level Intermediate
- Financial Mathematics - Proficiency Level Intermediate
- Probability - Proficiency Level Intermediate
- Effective Communication - Proficiency Level Intermediate
- Stakeholder Management - Proficiency Level Intermediate
- Relationship Management - Proficiency Level Basic
- Data Tools and Management Literacy - Proficiency Level Intermediate
Education and Experience
- Bachelors degree in Actuarial Science, Data Analytics, Mathematics, Statistic, or equivalent at minimum.
- Typically two or more years of experience in related field.
- Not Required but having these skillsets will better facilitate your transition into this role.
- Having experience in working with programming statistical tools such as MS Excel-VBA, Power BI, SAS, SQL, R, Python, Emblem, Radar or Prophet
- Pursuing professional actuarial qualification (UK,US or Australia)
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.
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.
Let’s continue to grow together!
- Location(s): MY - Kuala Lumpur
- Remote working:
- Schedule: Full Time
- Recruiter name: Taren Kaur
- Closing date: