Your Future Employer
A foreign life insurance company
Your Key Responsibilities
The Appointed Actuary plays an important role in the company by providing technical advices and practices to BOM in the financial reporting and risk management functions.
• Maintaining and guaranteeing to satisfy requirement and condition of an appointed actuary as prescribed by laws.
• Organizing for implementation of works to ensure the financial safety of the Company.
• Formulating the principles, terms, and calculating the insurance premiums of the insurance products; assessing the difference between the assumptions used to calculate tariff and practical cost of each product.
• Making and signing insurance reserves as prescribed by laws. Making and signing explanation and illustration documents on method of establishing insurance reserves which are prepared for applying or changing.
• Splitting funds and distributing annual surplus of the insurance policy holders’ fund equitably, reasonable and legally. Making and signing explanation documents on distribution principles for transactions arising assets, capital, revenue, expenses in relation with each fund estimated for applying.
• Having responsibility for ensuring that transactions relating to a lot of funds shall be gathered and distributed for each fund equitably and reasonable. At the end of year, determining and adjusting proportion of distribution for such transactions in accordance with the laws and the Company’s implementation in fact.
• Having responsibility for exactitude of data of insurance policy holders’ fund, shareholder’s fund and distributing interest for policy holders.
• Signing reports of periodical fund splitting of the Company.
• Signing for approval on using of one part of or total surplus in order to distribute for policy holders of such policy holders’ fund and shareholders.
• Signing explanation documents on method of surplus distribution estimated for applying.
• Having responsibility for making written reports on the result of insurance business at the end of financial year, including the reports on the fund splitting and profit distribution, submit proposals on the amount of profit being distributed to the insurance policy holders to competent persons of the Company for decisions.
• Assessing the solvency of the Company and send reports to the Ministry of Finance on every 15th per month.
• Submitting written reports to the Board of Directors on the financial situation and forecast the future financial situation of the Company every quarter and every year.
• Promptly submitting written reports to the Chief Executive Officer, the Board of Directors on the unusual issues that may negatively affect the finance of the Company and suggesting solutions. Sending reports to the Ministry of Finance on the serious issue that may affect the solvency of the Company.
• Assessing the reinsurance program and reinsurance contracts before submitting them to the Board of Managements, Board of Directors for approval.
• Verifying compliance of assumption used to calculate and signing for approval on sale illustration documents of the Company before providing to customers, submitting for obtaining approvals of the Ministry of Finance for insurance products.
• At the latest within ninety (90) days from the last date of the fiscal year, reporting to the Ministry of Finance about issues relating to obligations of the appointed actuary as stipulated in item c), d), e) and from item j) to p) above in accordance with laws.
• Performing other tasks for guaranteeing financial safety of the Company and compulsory obligations with regard to an Appointed Actuary as prescribed by Vietnamese laws from time to time.
• Implement internal training for Actuary staff of the Company.
Our Key Requirements
Qualification & Experience requirements:
• Vietnamese is a must.
• Master’s degree or higher.
• Fellow of the Society of Actuaries (FSA)
• Strong academic background in Actuarial Science, Finance, Statistics, Economics, Mathematics or other related field.
• At least 10 years working experience working as Actuary in life insurance. Good understanding about Vietnamese insurance market.
• A commitment to the highest ethical standards.
• Strong written and verbal communication skills, fluent in Vietnamese and English are required
• Strong technical skills developed in valuation, product pricing, experience analysis and/or re-rating.
• Proven ability to handle multiple projects and tasks, prioritizing and meeting deadlines.