Actuarial Pricing Manager
Salary MYR156,000 - MYR180,000 per annum
Location Kuala Lumpur
Consultant Leon Lim
Date posted 14 June 2018Menara 3 Petronas Persiaran KLCC Kuala Lumpur 50088 Robert Walters Malaysia
An attractive Pricing Manager job with managerial opportunity in a general insurance organisation based in Kuala Lumpur has just become available.
About the Pricing Manager Role:
This is a great opportunity for the Pricing Manager to assist in the development and advisory on technical pricing of new and existing insurance retail products. Your main responsibility is to ensure long-term financial soundness of retail portfolios through product analysis, rate indication, and portfolio monitoring. Collaborate with key stakeholders (underwriters and distribution) to develop and execute pricing strategies.
- Product Pricing
- Propose rating structure and develop rates for retail products (Motor, Home etc.) using advanced statistical techniques (GLM)
- Review and revise rates as required for existing products to improve profitability
- Ensure correctness of the set-up of pricing models and accuracy of calculation in line with Group pricing and retail guidelines
- Assist in providing recommendations to EXCO members and key stakeholders on the pricing results (indicated factors, impact analysis, preferred segments etc.)
- Collaborate with key stakeholders (IT, Underwriting, Distribution etc.) to develop and execute pricing strategies
- Assist in preparing pricing documentation and support for regulatory filing and internal product approval process
- Assist in development of new products to ensure the product setup, structure, and information collected is relevant for pricing and portfolio monitoring purposes.
- Portfolio monitoring
- Monitoring performance of the retail portfolios on a regular basis.
- Ensure the accuracy of the monitoring reports with reconciliation against other internal reports (financial, underwriting, claims etc.)
- Identify the key trends/findings and propose necessary rectification measures
- Dataanalytics and management
- Responsible for data mining and analytic projects in the company (e.g. claims dashboard,
- telematics etc.)
- Work closely with the Statistics/MIS team and IT to improve internal data quality and collection
- Underwriting and reinsurance
- Provide input to retail portfolio underwriters to develop product underwriting policies, guidelines, and rules.
- Provide analysis and advice on reinsurance structure proposals as required
- Assist the loss reserving team on pricing assumptions, repricing activities, and new product developments
- Work closely with Finance and/or Underwriting to provide input as necessary for business planning and result forecasting
To succeed in the Pricing Manager job, you will need to provide actuarial support to other departments including Risk Management, Finance and be ready to assist in any special project assigned from time to time.
- Possess a Degree in Actuarial Science or relevant quantitative fields;
- At least 3 to 5 years of experience in an analytics field
- Expert knowledge of data manipulation tools (e.g. SAS, sql, etc.) is required
- Pricing modelling experience is required. Experience using EMBLEM is an added advantage
- Previous experience working closely with underwriters, product development team and other key
- Good understanding and knowledge of the general insurance industry
- Knowledge of best practices and statutory compliances as applicable related to product pricing
- Robust analytical ability
- Attention to detail
- Strategic thinking
- Excellent communication and interpersonal skills
- Ability to work independently and drive pricing projects/decisions
- Proficient in MS Office applications and SAS. Experience using EMBLEM is an added advantage.
The successful Pricing Manager will join a company whose expertise has made them the known in their field. The culture is demanding but if you are confident and have a can-do attitude the potential rewards are significant. The firm is also very focused on developing and training their people to the highest standards.
If you would like to apply for this role or find out more, please contact Leon Lim on +603 – 2380 8738 or email to firstname.lastname@example.org quoting the Job Reference No. 1271970
Business Registration Number: 729828-T
Licence Number: JTK2125
Business Registration Number: 729828-T Licence Number: JTK2125