Associate Manager/ Manager, Valuation and Financial Reporting (Local Reporting and Capital)

JOB PURPOSE

• Ensure capital/solvency valuation processes adhere to actuarial principles, standards, and statutory requirements for both local and Canadian bases

• Oversee local reporting processes (reserves, MOF reports, STAT P&L) to align with actuarial principles, standards, and regulatory requirements

• Implement new products and Assumption Changes and Management Actions (ACMAs) into the Local Reporting Actuarial Model (AXIS)

• Lead insurance experience studies and ad-hoc analyses related to insurance risk

• Support the annual ACMA process and assumption/reserve setting for new products

MAIN ACCOUNTABILITIES:

1. Local Reporting

• Conduct preparation of reserve and Ministry of Finance reports

• Ensure compliance with actuarial principles, standards, and regulations

• Coordinate with finance and regulatory teams for accurate, timely reporting

• Analyze results to identify trends and potential issues

• Monitor company health assessment and support rating improvement

• Analyze STAT profit, recommend actions to improve local profitability

• Lead automation and improvement of local reporting processes

2. Capital / Solvency Reporting

• Manage capital/solvency valuation processes for local and Canadian bases

• Oversee capital reports including Local Solvency and LICAT

• Lead capital shock reports, including annual FCT and Local Financial Risk Solvency assessment

• Ensure high-quality, timely deliverables with meaningful analysis

• Review and propose assumption changes, quantify impacts, and communicate to stakeholders

• Drive automation and improvement of capital reporting processes

3. New products and ACMA implementation

• Integrate new products and assumption changes into AXIS

• Support Head of Valuation in reviewing assumptions and reserves for new products

• Ensure accurate modeling and reserve calculations

• Collaborate with product development teams on new product features and data requirements.

4. Experience Studies

• Lead regular insurance experience studies

• Analyze policyholder behavior, mortality, and other relevant factors

• Identify trends and anomalies in insurance experience data

• Investigate and report on insurance risk-related issues

• Prepare comprehensive reports with findings and recommendations

• Support the annual ACMA process

5. Other tasks assigned by Line Manager

Specialized knowledge

• Advanced data analysis capabilities

• Experience with financial modeling, particularly AXIS programming

• Excellent communication skills in both Vietnamese and English, able to convey complex information clearly in written and verbal forms

• In-depth understanding of actuarial principles, standards, and regulatory requirements

• Proficiency in risk assessment and management within the insurance industry

Problem solving

• Demonstrate strong analytical skills to address complex problems in actuarial processes

• Ability to improve existing processes and practices through innovative solutions

• Open to collaboration and seeking advice from experienced colleagues

• Skill in escalating serious issues to leadership and following up for resolution

• Strong attention to detail while maintaining a big-picture perspective

• Capacity to multi-task and perform effectively under pressure

• Adaptability in approaching varied and interdependent challenges within the actuarial field

Education and experience

• Bachelor's degree in actuarial science or related field

• Minimum of 5-6 Actuarial Exams from Society of Actuaries or equivalent; ASA designation preferred

• At least 4-5 years of experience in an actuarial department

• Proven experience in financial reporting and modeling

• Experience with AXIS modeling is highly desirable

• Strong understanding of insurance industry regulations and best practices

• Demonstrated ability to lead projects and collaborate across departments

Communication:

• Regional Office: Actuarial, Peer Review, ALM, Finance.

Focus on Actuarial Technical communication and collaboration with Working level.

• Local: Pricing, Finance, Investments, Product, Distribution teams, IT, Operations, ALM

Focus on Actuarial Technical communication and collaboration with Working level.

Be able to communicate effectively with Product & IT & OP on Data and Policy terminology.