Head of Actuary

1. Job Purpose

• The Head of Actuary is responsible for ensuring the company's financial stability, compliance with regulatory requirements and providing valuable insights for strategic decision making, while managing and effectively mitigate risks by balancing risk and financial considerations to ensure the long-term sustainability of the company in a dynamic and competitive insurance business market environment in Vietnam. 

2. Accountability

• Risk Assessment and Management:

• Collaborate with other departments to identify and address emerging risks.
• Assess and manage risks associated with insurance products and policies.
• Develop and implement risk models, analyze the potential impact of various risks on the company's financial health, and work on strategies to mitigate and manage these risks effectively. 

• Premium Rate Setting and Reserving:

• Determine appropriate premium rates for insurance policies and establish reserves.
• Use actuarial principles to set fair and competitive premium rates that cover the risks involved.
• Establish and manage reserves to ensure the company can meet its future obligations, particularly in terms of potential claims. 

• Financial Planning and Reporting:

• Provide financial forecasts and contribute to the development of strategies that enhance the company's overall financial strength.
• Set appropriate premium rates and establish reserves to cover potential future claim payment and liabilities.
• Provide actuarial input for financial planning, budgeting, and forecasting.
• Prepare and present actuarial reports for internal management and external regulators.
• Monitor closely the company’s statutory and internal reporting financial position and advise management on major financial issues. 

• Compliance and Regulatory Affairs:

• Ensure compliance with local and international regulatory requirements.
• Stay informed about changes in regulatory standards and communicate their impact.
• Work with regulatory authorities to address inquiries and provide necessary documentation.
• Implement and oversee processes to meet statutory reporting obligations. 

• Strategic Decision-Making and Business Collaboration:

• Work with senior management to align actuarial strategies with overall business goals.
• Collaborate with product development, underwriting, and other departments to support the company's growth and development initiatives. 

• Team development

• Build and develop an actuarial team, set up systems and procedures, and manage actuarial projects to ensure quality and enhance business growth.
• Manage the day-to-day activities of staff members, providing instructions and guidance on work related matters, and managing their performance to agreed standards. 

3. Job Qualifications

• Education

• University degree or above in Mathematics, Statistics, Actuarial Science, or related field
• Fellowship of the Society of Actuaries (FSA), or Institute and Faculty of Actuaries (IFoA), The Institute of Actuaries of Australia, Canadian Institute of
• Actuaries, or fellowship of an official member of the International Actuarial Association. 

• Experience

• At least 10 years of experience, with a minimum of 5 years of post-qualification.
• Experience of working in an actuarial department of a multi-national insurance company as a role of management.
• Oversea experience is a plus. 

• Technical skills:

• Solid background of Actuarial field, good at pricing and modelling areas.
• Good knowledge of Prophet or other Actuarial software.
• Proficient at analysis and forecast with a large data set.
• Impactful leadership.
• Change management. 

• Soft skills:

• Communication both verbal & writing skill.
• Coaching and training skill.
• Cross functional knowledge.

• Personal attributes

• Team development
• Foresight & strategy