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Associate, IFRS Valuation

Great Eastern Malaysia Kuala Lumpur, Malaysia
Posted 7 days ago Permanent Competitive
Associate, IFRS Valuation
Discover the GREAT in your career.

As a LIFE company, our customers are at the heart of all that we do. Being one of Asia's leading insurer for over a century, we have built a long-lasting legacy of trust with our customers over many generations. At the foundation of this trust is Integrity, Initiative, and Involvement - from the way we treat every customer relationship with honesty and transparency, to our proactive approach of delivering the best possible solutions in both life and general insurance.

Integrity, Initiative, and Involvement is what guides us. It is what makes us do the right thing, take the lead, and choose 'we' over 'me'. Our mission is to make life great for our customers because we understand what matters most to them, and we know how to help them protect it.

If you are looking to grow in an exciting career filled with opportunities and potential, we are seeking a professional to join our team as Manager, IFRS Valuation and Operational Optimisation.

Job Purpose

To aim for long term financial soundness through robust reserve management, ensuring conformance to the IFRS17, Central Bank's and Group's guidelines and requirements. You will support the business as usual closing under the new IFRS 17 standard, to analyze and optimize IFRS17 processes, as well as to develop and implement automated solutions.

The Job

  • Lead and review the maintenance of the TVoG calculations and parameters to be used in the regular IFRS 17 reporting for Participating products.
  • Drive and manage the end-to-end UAT as part of Day 2 enhancement covering end-to-end reporting for reinsurance.
  • Drive and liaise with various stakeholders to provide the requirements to enhance the valuation files so as to include reinsurance related information.
  • Drive in the design and building of the Prophet model architecture for IFRS 17 calculation (including IDR requirements), especially on the modelling for reinsurance treaties.
  • Develop and implement automation processes to improve efficiency in operations and reduce manual tasks.
  • Analyze existing processes to identify areas for improvement and optimization, and create solutions to address those inefficiencies.
  • Take accountability in considering business and regulatory compliance risks and takes appropriate steps to mitigate the risks
  • Maintain awareness of industry trends on regulatory compliance, emerging threats and technologies in order to understand the risk and better safeguard the company
  • Highlight any potential concerns /risks and proactively shares best risk management practices
  • Other responsibilities entailed

The Person

  • Tertiary - Bach. in Statistics / Maths / Actuarial Studies.
  • Professional - Passed some actuarial exams in Faculty of Actuaries, Scotland, Institute of Actuaries, England, Institute of Actuaries, Australia, Society of Actuaries, US
  • > 5 years actuarial related experience
  • Good communication skills - written and verbal
  • Relevant computer skills - Macro, Visual Basic, Excel, Word, Power Point etc
  • Prophet - Skills in product modelling & projection
  • Key Knowledge: Sound actuarial principles, Company's financial & market position and experiences, Company's overall operational procedures, Regulations and guidelines, Understanding of IFRS 17 reporting requirements
  • Key Competencies: Actuarial Knowledge, Actuarial Application - Prophet, Analysis & Numeracy, Financial Accounting & Reporting, Concern for Order and Quality, Problem solving and investigative abilities, Communication skills, Team player aptitude, Good inter-personal skills, Good integrity and trustworthy characteristics, Good customer service (Internal & external), Creativity
  • High level of integrity, takes accountability of work and good attitude over teamwork
  • Takes initiative to improve current state of things and adaptable to embrace new changes

Great Eastern Malaysia is committed to Equal Employment Opportunity, and all qualified applicants shall receive a fair and equal consideration for employment.

Location: HQ, Kuala Lumpur

Entity: Great Eastern Life Malaysia

Employment Type: Permanent

About Great Eastern

Established in 1908, Great Eastern places customers at the heart of everything we do. Our legacy extends beyond our products and services to our culture, which is defined by our core values and how we work. As champions of Integrity, Initiative and Involvement, our core values act as a compass, guiding and inspiring us to embrace the behaviours associated with each value, upholding our promise to our customers - to continue doing our best for them in a sustainable manner.

We work collaboratively with our stakeholders to look for candidates who exhibit or have the potential to embrace our core values and associated behaviours, as these are the key traits that we expect from our employees as they develop their careers with us.

We embrace inclusivity, giving all employees an equal opportunity to shine and play their role in exploring possibilities to deliver innovative insurance solutions.

Since 2018, Great Eastern has been a signatory to the United Nations (UN) Principles of Sustainable Insurance. Our sustainability approach around environmental, social, and governance (ESG) considerations play a key role in every business decision we make. We are committed to being a sustainability-driven company to achieve a low-carbon economy by managing the environmental footprint of our operations and incorporating ESG considerations in our investment portfolios; improving people's lives by actively helping customers live healthier, better and longer; and drive responsible business practices through material ESG risk management.

To all recruitment agencies: Great Eastern does not accept unsolicited agency resumes. Please do not forward resumes to our email or our employees. We will not be responsible for any fees related to unsolicited resumes.
Job ID  2300015P
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