PBTB | Executive, Pricing

Prudential’s purpose is to be partners for every life and protectors for every future. Our purpose encourages everything we do by creating a culture in which diversity is celebrated and inclusion assured, for our people, customers, and partners. We provide a platform for our people to do their best work and make an impact to the business, and we support our people’s career ambitions. We pledge to make Prudential a place where you can Connect, Grow, and Succeed.

Role Purpose:

The Pricing Executive is required to do the day to day works in terms of product management by supporting delivery of the Company’s growth strategies through innovative product

development, assumption setting, modelling, profit testing, ensuring integrity of the pricing model, meet pricing standards, and ensuring financial integrity within the distribution

channel compensation.

Organization Context:

The role holder is required to use his/ her actuarial knowledge and skills:

· To assist in developing innovative product with good risk management controls, price profitable and competitive product while ensuring strict adherence to pricing requirements

set by Prudential Group and Bank Negara Malaysia.

· To ensure the pricing approach is based on sound actuarial basis

· To assist the development of robust pricing model & process with sound actuarial basis and consistency with company takaful model, shariah and profitability requirement.

· To provide actuarial support to product implementation committee for timely and effective product implementation

· To ensure product pricing and development is compliance to Local business unit and Group policies as well regulator guidelines.

· To assist in implementing cost-effective and efficient retakaful arrangements

The role holder shall uphold integrity and value of the organization by adhering to company core value, code of conducts and policies.

The role holder shall uphold integrity and image of actuarial profession by adhering to actuarial standards of practices and codes of professionalism.

Key Accountabilities and Performance Measures Impacted:

Product Pricing- Conduct Product Pricing with management of financial and operational

risks Product Pricing

· Set profitable and sustainable pricing and maintain competitiveness in the market · Support on quotations for tailored group employer scheme · Produce product submission for PCA and BNM and assist on enquiries. · Ensure product pricings complies to requirements set by SOP, PCA and BNM · To ensure product pricing works are accurate, complete and submitted on time

Pricing Approach- Maintain and implement sound Pricing Approach/ Model/ Basis

· Proper documentation of methodology and bases. · To run pricing model that is consistent with the Company’s takaful model and profitability measures. · Ensure jobs are accurate, complete and submitted on time.

Product Implementation- To provide timely and effective Product Implementation support

· To perform testing on system as per Pricing UAT SOP and ensure completeness and accuracy. · To provide actuarial support in terms of product materials, system requirement/ development, sale illustration, UAT, etc. · Ensure jobs are accurate, complete and submitted on time.

Retakaful - Cost effective and efficient Retakaful put in place for all new products before

launch

· To support works when liaising with Retakaful Operators to obtain competitive retakaful rates as well as supports on pricing and product design, as well as underwriting and claims management.

Working Relationships:

Internal

Various divisions in the organisation

- Product Development

- Valuation team

- IT

- Operations

- Agency & Partnership Distribution channels

- Finance

- Risk Management

- Shariah

External

- Retakaful Operators

- Bank Negara Malaysia

- PCA

- Auditors

Qualification and Experience

· Degree in Mathematics/Statistics/Actuarial Science or other related course.

· Good progress in the Actuarial professional examinations (IOA/IOAA/SOA).

· Competent in actuarial software (ideally Prophet) and Microsoft Office application (Excel, VBA, Word, Power Point) and any other programming language

· Good communication skill

· Good command in English & Bahasa Malaysia

· Good analytical and problem solving skills

· Able to work under pressure and deliver within tight deadlines.

· Driven by high desire to acquire knowledge and to deliver results

Prudential is an equal opportunity employer. We provide equality of opportunity of benefits for all who apply and who perform work for our organisation irrespective of sex, race, age, ethnic origin, educational, social and cultural background, marital status, pregnancy and maternity, religion or belief, disability or part-time / fixed-term work, or any other status protected by applicable law. We encourage the same standards from our recruitment and third-party suppliers taking into account the context of grade, job and location. We also allow for reasonable adjustments to support people with individual physical or mental health requirements.