Chief Actuary

About FWD Group

FWD Group (1828.HK) is a pan-Asian life and health insurance business that serves approximately 34 million customers across 10 markets, including BRI Life in Indonesia. FWD's customer-led and tech-enabled approach aims to deliver innovative propositions, easy-to-understand products and a simpler insurance experience. Established in 2013, the company operates in some of the fastest-growing insurance markets in the world with a vision of changing the way people feel about insurance. FWD Group is listed on the main board of the Hong Kong Stock Exchange under the stock code 1828.

For more information, please visit

FWD Vietnam was established in 2016 and is a member of FWD Group.For more information, please visit

The position is responsible to ensure that all actuarial aspects of financial reporting are consistent with FWD standards, professional standards and regulatory requirements. The incumbent needs to perform the statutory duties of Chief Actuary and is responsible to report to the Board of Directors.
The Chief Actuary also has overall accountability for product development governance, ensuring products are actuarially sound, system ready, and operationally implementable through effective UAT and operational specifications.

THE JOB:

1. Actuarial Services:

- Perform all statutory duties and requirements which includes but not limited to:

. Ensure appropriateness of premium rates

. Manage statutory valuation and solvency management

. Investigate financial conditions of the company

. Provide recommendation to board including bonus investigation

- Advice on appropriateness of investment strategy of each insur ance fund, and SAA investigation

- Responsible for the company reinsurance strategy and putting in place adequate and robust reinsurance program

- Report on any matter that adversely affects insurance funds

- Provide support and insight in product development process which steer the direction of product design

- Responsible for Group reporting including new business reporting, EV reporting and IFRS

- Responsible for experience monitoring/analyses including profitability of product, sources of earning and compensation schemes

- Provide and communicate sources of earnings analysis and estimates and identify trends and business issues to highlight to Senior Management Team

- Participate in business/strategy plan development and provide the needful actuarial support. Execute planning and earnings forecasts process with other key stakeholders

- Participate and be a key member of the Investment Committee, actively review Strategic Asset Allocations, monitor and drive well balanced investment strategies.

- Drive ULP crediting rate recommendation

- Manage capital and ensure efficiency use of capital

- Key point of contact in IFRS9/17 and economic capital implementation

- Acting as first line of defence, work closely with Risk function in identifying, managing and mitigating financial risks, capital risks etc.

- Build a high performing team, leverage unique talents of others and foster trust and credibility and maintain a work-life balance working environment by prioritising and applying good business judgement to make sound decisions.

- Apply understanding of current and future business needs to attract, develop and retain key talents, encourage talents movement within the organisation.

2. Product Development:

- Provide overall governance and oversight for product development activities, including system readiness, UAT execution, and operational implementation.

- Ensure that all products are actuarially sound, systemready, and operationally implementable prior to launch.

- Oversee the preparation and approval of Operational Specifications (Ops Specs) to ensure accurate translation of product design into system and operational processes.

- Accountable for effective User Acceptance Testing (UAT) to validate product rules, pricing logic, benefits, and endtoend customer journeys.

- Lead crossfunctional alignment between Actuarial, Product, IT, Operations, Finance, Risk, and Distribution throughout the product lifecycle.

- Ensure compliance with regulatory, Group, and internal governance requirements in product implementation and system setup.

THE PERSON:

- Actuarial qualification with at least five (5) years of work experience as per MOF definition for Appointed Actuary:

. Fellow of the Canadian Institute of Actuaries, or

. Fellow of the Society of Actuaries, or

. Fellow of the Institute and Faculty of Actuaries

- Minimum 10 years of working experience in insurance industry

- Proven management record and leadership calibre

- Strong technical skills, business acumen and strategic thinking ability

- Good level of experience working with senior management or EXCO level

- Excellent communication and relationship skills

- Good verbal and written English skill