Manager, Technical Pricing

Summary:

• Responsible for the development of sound premium rates that is in alignment with the product pricing strategy and adhering to company’s internal requirements and comply with BNM’s regulations.
• To ensure that the products’ profitability and capital needs meet the company’s objectives.

Responsibilities:

1. Product Pricing Strategy

• Devise pricing strategy to ensure that they are in alignment with the product proposition to achieve business targets and meet the products’ profitability and capital needs of the company.
• Build, update or enhance existing pricing model.
• Preview, test and utilize competitor products and seek necessary mandate from the Product Development Team.
• Prepare pricing analysis and seek necessary mandate from Product Development Team for quotation.
• Work with reinsurer to gain access to product knowledge and risk pricing knowledge. Also establish relationship with reinsurer to ensure timely product support.
• Preparing financial studies in Pricing Report to seek product approval from the relevant stakeholders.
• Collaborate with Product Development Team to ensure that product is approved by relevant stakeholders, prior to seeking INM's approval (if required), and filing to BNM.
• Partner with Product Development Team to prepare the needed document for timely submission of product filling for BNM’s product approval and responding to BNM's queries.

2. Product Implementation

• Work with IT on developing, testing, and integrating systems.
• Resolve Day 1 issues before product launch and to follow up on Day 2 issues to ensure completion.
• Develop and maintain SI planner template and inforce SI.
• Post-migration Day 2 issues follow-up and rectification

3. Special Projects Related to Pricing

• Manage project timeline with the engagement of project manager.
• Ensure timeliness of the project completion

4. Ad Hoc Requests

• Respond accurately to ad hoc requests from various stakeholders in timely manner.

5. Team Development, Engagement and Empowerment

• Ensure knowledge sharing within the team.
• Provide staff growth and development opportunities to subordinates.
• Develop and motivate staff to achieve technical excellence and ensure effective performance.

Requirements:

• Degree in Actuarial Studies who is active in exam progress from recognised actuarial examination body.
• Minimum 5 years of Actuarial or Pricing experience.
• Sufficient understanding of insurance products and marketplace conditions and how they impact financial models and results.
• Strong technical skill and logical thinking.
• Stong problem solving skill and critical thinking.
• Sound leadership and communication skill.
• Good interpersonal communication skill and presentation skills.
• Self-motivated and ability to motivate and coach staff.