Senior Pricing Actuary

Job Description

Job Purpose

The Senior Pricing Actuary is responsible for leading the development and pricing of life insurance products, ensuring they are competitive, profitable, and compliant with regulatory standards. This role requires a deep understanding of the Vietnamese insurance market, strong analytical skills, and the ability to collaborate with cross-functional teams to drive product innovation and financial performance.

Main Responsibilities

• Product Pricing and Development

- Lead the pricing and modeling of new life insurance products, ensuring alignment with company objectives and market demands.

- Develop and maintain pricing models, incorporating current industry trends, mortality and morbidity assumptions, and expense analyses.

- Collaborate with product development, underwriting, and marketing teams to design innovative products that meet customer needs and regulatory requirements.

• Risk Assessment and Management

- Conduct thorough risk assessments for new and existing products, analyzing potential financial impacts and proposing mitigation strategies.

- Monitor and analyze experience studies to refine pricing assumptions and ensure ongoing product profitability.

• Regulatory Compliance

- Ensure all pricing activities and product designs comply with local regulatory requirements, including coordination with the Ministry of Finance in Vietnam.

- Prepare and submit necessary documentation for product approvals and regulatory filings.

• Stakeholder Collaboration

- Work closely with internal stakeholders, including finance, legal, and operations, to ensure cohesive product implementation and management.

- Provide actuarial insights and recommendations to senior management to support strategic decision-making.

• Mentorship and Development

- Provide guidance and mentorship to junior actuarial staff, fostering professional growth and knowledge sharing within the team.

Job Requirement

Qualifications and Experience

• Education

- Bachelor's degree in Actuarial Science, Mathematics, Statistics, or a related field.

- Fellowship or Associate designation from a recognized actuarial professional body (e.g., FSA, FIA) is preferred.

• Experience

- Minimum of 7 years of actuarial experience in the life insurance industry, with a focus on product pricing and development.

- Demonstrated experience working with regulatory bodies, particularly the Ministry of Finance in Vietnam, is highly desirable.

• Skills

- Strong analytical and problem-solving skills, with proficiency in actuarial modeling software and advanced Excel capabilities.

- In-depth knowledge of life insurance products, pricing methodologies, and the Vietnamese insurance market.

- Excellent communication and interpersonal skills, with the ability to convey complex actuarial concepts to non-technical stakeholders.

- Proven ability to manage multiple projects and deadlines in a dynamic environment.

This role is critical in shaping the company's product offerings and ensuring financial sustainability through expert pricing strategies and risk management.