Actuarial Valuation and Experience Study Lead

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Job Description:

Job Description

• “Actuarial Valuation and Experience Study Lead”, who is responsible in providing Management Reporting which covers experience study monitoring and profitability monitoring related to Company’s KPI (Key Performance Indicator), including regular reporting to Local regulator under the current PSAK requirement and OJK framework. This role involves analyzing insurance risks, ensuring regulatory compliance, and collaborating with cross-functional teams to provide actuarial insights for decision-making. 
• On this role, the candidate is also expected to have a deep knowledge towards the actuarial valuation (reported under both IFRS 4 and IFRS 17), to be able to conduct an in-depth product review and provide solutions (from the financial / investment side) in mitigating the insurance and financial risks embedded within the products.

Responsibilities

• Prepare monthly reporting supporting Key Performance Indicator (KPI), including allowance, persistency, and claim report. Candidates are expected to be able to collaborate with other functional teams (accounting, finance, IT, operations, etc) in fulfilling various task forces such as on Claims, Persistency, and Health initiatives.
• Support the production of actuarial valuation related and analyze the actuarial liabilities related movements in preparing regular reporting for OJK such as monthly local and operational reporting, quarterly PSAK 117 reporting, and other Local regulatory reporting requirements.
• Conduct regular experience study to review the non-economic assumptions such as Mortality & Mortality Improvement, IBNR, Morbidity, Lapse/Persistency, Partial Withdrawal, and Expense and collaborate with other actuarial team to analyze the impact of assumption changes on Company’s earnings and profitability and collaborating with pricing team to review the assumptions of new products.
• Contribute to new product assumption review to ensure assumption consistency and the product risk align with Company appetite. This also includes understanding in analyzing the product / policy assessment under IFRS 17 requirements.
• Identify and implement process improvements in actuarial methodologies and workflows, which enables the team to analyze and interpret complex data to support business decisions

Preferred skills

• Proficiency in Actuarial Software (AXIS preferred), Microsoft Excel, and Microsoft Access
• Strong analytical, problem-solving, and communication abilities
• In-depth understanding of actuarial reserve methodologies (both IFRS 4 and IFRS 17) and relevant solvency capital requirements

Qualifications

• Bachelor’s degree in actuarial science, Mathematics, Statistics, or related field
• Minimum of 5 years’ experience in actuarial industry / fields
• Progress towards or completion of professional actuarial qualifications (ASAI preferred).

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