Senior Manager, Product Pricing

Senior Manager, Product Pricing

AIA Group
8-11 years
Not Specified

Job Description

Bring your career aspirations to life with AIA!The jobholder is required to ensure AIA Public Takaful Berhad (APTB) is able to deliver the product pricing required in the Products Marketing and Business strategy and to meet the pricing standards required by Group Office and complies with Bank Negara Malaysia (BNM) regulatory requirements. He/she will be the key gatekeeper of new products to be launched and will be a member of the Product Steering Committee.
  • Ensure pricing of new products and repricing of existing products are delivered on a timely basis, based on the standards required by Group Office and in compliance with BNM regulatory requirements.
  • Negotiate with re-takaful operators to obtain suitable coverage for APTB at the appropriate terms and conditions.
  • Proactively and frequently improve the product pricing process through automation, Prophet pricing, and reconciliation with valuation model.
  • Ensure products are administered correctly in the system via robust User Acceptance Testing procedures.
  • Provide peer review of large and customized quotes issued by Corporate Solutions to cater for the risk appetite of APTB.
  • Effectively communicate pricing outcome and key sensitivities during Product Steering Committee and Product Development Committee.

  • Drive and lead ad-hoc projects based on emerging business needs. Several examples of expected projects are management of medical portfolio, financial analysis required by Group Office in relation to embedded value and value of new business metrics, and investigations on administration systems based on production issue tickets raised.

  • Develop technical competency/development plan for direct reports.
  • Perform other responsibilities and duties periodically assigned by supervisor in order to meet operational and/or other requirements

  • Internal: Across APTB & AIA BHD. (e.g. Actuarial, Finance), Group Office.
  • External: External regulators/ Auditors.
  • Most challenging type of communication: Engagement with BNM officers, internal auditors, Group Office, Head of Products, system developer, and senior management.

Job Requirements:
  • Bachelor's Degree or Master holder, preferably in Actuarial Science or other educational background with significant mathematical and analytical courses.
  • Near fellowship of an internationally recognized actuarial body.
  • Candidate should have 8 years of actuarial experience, with at least 2-3 years in actuarial pricing.
  • Detail-oriented and ability to work independently.

Build a career with us as we help our customers and the community live healthier, longer, better lives.
You must provide all requested information, including Personal Data, to be considered for this career opportunity. Failure to provide such information may influence the processing and outcome of your application. You are responsible for ensuring that the information you submit is accurate and up-to-date.

Job Details

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About AIA Group

The roots of today's AIA Group can be traced to 1919 when entrepreneur Cornelius Vander Starr established his first insurance business in Shanghai, China. What followed was pioneering growth, securing AIA's position as the largest independent publicly listed pan-Asian life insurance group-spanning 18 markets and serving the holders of more than 38 million individual policies and more than 16 million group scheme members. AIA is based in Hong Kong and is listed on The Stock Exchange of Hong Kong under the stock code '1299' (ticker symbol: 'AAGIY'). AIA's contributions have supported social and economic progress across Asia, while also advancing the reach and impact of life insurance across the region. In 2020, we paid more than US$16 billion in benefits and claims, providing essential financial protection when it was needed the most. We also take pride in the long-term relationships we have developed with our customers and agents that in many cases have continued for generations. The insurance industry plays an important role in addressing the sustainability challenges our communities face. With this in mind, AIA's ambition is to be a global industry leader in Environmental, Social, Governance (ESG), shaping a sustainable future for the communities we serve and creating long-term value for our stakeholders. For more than a century, AIA has strived to make a significant, positive impact for our customers and communities across Asia. As we look to the future, this commitment is reinforced by our Purpose: to help millions of people live Healthier, Longer, Better Lives. Our Purpose guides the decisions we make and the actions we take as an organisation-empowering and enabling people to understand and manage their health, while meeting their long-term savings and protection needs. Helping create a healthier Asia is one of the most important and valuable things we can do for our communities, today and tomorrow.

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