TN Frank

The Head of Product Development provides leadership, oversight and actively participates in the strategic and tactical planning process by providing analysis and sound business acumen for product development and actuarial related matters. This position is accountable to formulate company’s business direction and product strategies.

Responsibilities

• To formulate, drive and monitor the Product strategic action plans so as to ensure that all initiatives put in place are being implemented effectively and efficiently.
• To lead the Product Development initiatives, overseeing the product development cycle and ensuring the development process is in compliance to regional office and BNM product development standards.
• Obtain product approval from relevant parties internal and external including from the regulator (BNM)
• Liaising with appointed actuary on actuarial related matters such as pricing, profit testing, actuarial valuation, financial condition report, and etc.
• Develop product development expertise.
• To ensure full compliance with all relevant anti-money laundering laws, codes, rules regulations and standards of good practice, including the Group’s Money Laundering Prevention Policy and Standards
• Responsible for identifying the risk in the department / activities under his/her control and to ensure there are adequate controls. More specifically, the incumbent will:
  • Ensure that risks are identified and evaluated and that the controls in place to mitigate such risks are robust, adequate and operate effectively;
  • Develop action plans and ensure timely completion. Where necessary, the Risk Committee may ask for such action plans from time to time;
  • Escalate key risks to the local risk committee;
  • Manage incidents and identify remedial actions where necessary on a timely basis.