Appointed Actuary: Appointment and Duties (for reinsurers and retakaful operators)

This policy document provides for the duties of an appointed actuary, and the Bank’s expectations of the roles and responsibilities of the Board and the Board Nominating Committee (NC) in respect of the appointed actuary. This policy document aims to reinforce the professional standards expected of an appointed actuary in carrying out his specified duties and overall responsibilities as a control function.

This policy document sets out the—
(a) requirements relating to the appointment and cessation of the appointed actuary;
(b) duties and responsibilities of the appointed actuary; and
(c) specific responsibilities of the Board in relation to the appointed actuary.

This document belongs to Bank Negara Malaysia (BNM). Full access to the original source is available here: https://www.bnm.gov.my/banking-islamic-banking