ACTOMATE
BNM FinTech Regulatory Sandbox
Bank Negara Malaysia’s (BNM) FinTech Regulatory Sandbox provides an opportunity for innovative financial services with genuine value proposition to operate with regulatory flexibilities. To gain approval, companies must perform various preparation work as required by BNM.
Our actuarial team at Actomate has extensive experience assisting digital companies through every stage of the sandbox process.
We structure our support into two key phases: preparing for sandbox entry and ongoing compliance during sandbox operations. Our tailored approach ensures alignment with BNM’s regulatory expectations, helping you navigate challenges efficiently.
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product development & pricing
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develop product design and benefits
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customer suitability assessment
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competitor analysis
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prepare product specification
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develop key pricing assumptions
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determine premium or contribution rating factors
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profit testing
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sensitivity analysis
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prepare product documentation for approval & regulatory filing
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review actuarial content in sales illustration & marketing materials
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identify product’s key inherent risks
financial projection & risk management
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business planning
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business plan projection
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financial projection
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financial impact analysis
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assess capital required & capital adequacy according to BNM’S RBC framework
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actuarial appraisal valuation
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independent risk management review
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ITCL determination
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company-wide stress testing
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scenario testing
appointed actuary role
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quarterly valuation
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actuarial related RBC runs
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annual financial conditions report
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stress test report
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recommend surplus distribution to shareholders
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test of completeness and accuracy of database used for actuarial work
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perform overall duties as AA