Senior Manager, Pricing

Company Overview:

Our client is a prominent international insurance company based in Malaysia, specializing in life insurance and Family Takaful. With a commitment to offering diverse financial solutions, they operate through various channels such as bancassurance and agency force, aimed at securing lifelong financial stability and well-being for Malaysians.

Job Overview:

This role will ensure all products meet financial targets and profitability goals. The key responsibilities include leading a team to price new products and reprice existing ones while collaborating with distribution and operations teams to address business cases, production issues, and quotations. The Pricing Manager will work with various stakeholders, both actuarial and non-actuarial, as well as management and distribution partners, to ensure successful product launches from a pricing perspective. This role will handle pricing projects for both conventional and takaful products across different distribution channels, such as bancassurance and telemarketing. 

Responsibilities
Lead Product Pricing

• Collaborate with internal teams, including marketing and operations, through all phases of product development, advising on pricing feasibility. Engage stakeholders to reach optimal pricing decisions for product launches.
• Ensure the team uses sound assumptions and balanced pricing strategies that meet company profitability and deliver fair client value. Provide solutions to overcome challenges and enhance the value for the company.
• Evaluate and negotiate reinsurance agreements with reinsurers to secure competitive quotes. Implement the most suitable reinsurance strategies for specific products.

Team Development and Oversight

• Oversee and review the team's work, ensuring high-quality output.
• Mentor and guide team members in developing technical actuarial skills and soft skills.
• Regularly assess and communicate staff performance, identifying areas for improvement.

Support Key Projects

• Evaluate new distribution channels/partners and assess their profitability or risks.
• Participate in company-wide projects that enhance profitability, such as optimizing reinsurance strategies.
• Engage in projects that bring added value to the team, including automation initiatives to improve efficiency.

Product Performance Monitoring

• Work with stakeholders to gather financial metrics for product monitoring.
• Perform timely product performance analysis and recommend necessary changes if expectations are not met.
• Lead or support group quotations and operations teams, reviewing rates and assumptions, and addressing queries or issues related to group quotations.
• Assist operations with resolving system issues and handling customer complaints, including creating manual workarounds when necessary.

Requirements

• Bachelors degree in Actuarial Science with significant progress in actuarial exams.
• Minimum 8 years of relevant experience
• Proven ability to manage teams and deliver high-quality results within set timelines.
  
• Strong communication skills
• In-depth knowledge of actuarial principles to provide sound analysis and recommendations.
• Familiarity with Malaysian regulatory frameworks.