Project Overview
Our client is a global life Insurer. We are working with their Asia business who are seeking a new Chief Product Officer for their Vietnam business. They are open to individuals based anywhere in the world ready to relocate to Vietnam for this exciting opportunity to work in one of Asia's most vibrant and high growth markets. Relocation support is available and no prior local market experience is needed.
This is ideal for a qualified actuary with deep insurance product development experience. The role reports directly to the Vietnam CEO.
General Description:
As the Chief Product Officer (CPO), the role is accountable for the execution of the Vietnam customer centric product strategy, with a strong emphasis on portfolio optimisation and digitalisation to support sustainable growth across distribution channels.
The CPO will collaborate closely with internal stakeholders, external partners, and bank partners to define a clear and forward-looking product roadmap and will lead and manage all product development initiatives to ensure delivery against agreed business objectives and KPIs.
This role is also responsible for establishing and maintaining a robust product governance framework, ensuring that all products:
- Meet the organisation's global standards
- Comply fully with local regulatory requirements
- Deliver consistent value and positive outcomes for customers
Key Responsibilities:
- Product Development
- Partner with the CEO and the Executive Management Team (EMT) in Vietnam and the regional counterpart to formulate product strategy of Vietnam to ensure alignment with enterprise-wide and regional strategy and KPIs (APE, NBV, Core Earnings).
- Lead all product development initiatives to deliver the product roadmap according to agreed timeline for all key distribution channels.
- Take complete ownership of all product launches, working closely with all stakeholders to deliver this in the stipulated timeframe.
- Product Management
- Manage and optimize the product mix to ensure a balanced portfolio that delivers targeted growth, profitability, and risk-adjusted returns.
- Partner with and influence distribution channels to steer product focus and execution, ensuring alignment with planned product mix and strategic priorities.
- Lead product proposition activities, including product launches, customer research, training delivery, and ongoing product communications.
- Lead and oversee Day2 product implementation, ensuring operational readiness, effective post-launch monitoring, and timely enhancements to deliver intended customer and business outcomes.
- Inforce Management
- Optimise the inforce portfolio through ongoing performance monitoring and strategic interventions, leveraging reinsurance insights to enhance profitability, stability, and longterm value.
- Identify, assess, and mitigate emerging experience deviations, including mortality, lapse, and other key risk drivers while driving crossmarket strategic actions that strengthen portfolio health and unlock new valuecreation opportunities.
- Relationship Management
- Establish and maintain working relationship with the Ministry of Finance.
- Arrange regular visits to our distributors and bank partners to strengthen our relationship.
Individual Accountabilities:
Lead in the formulation of Vietnam's product strategy and ensure execution of the product strategy in line with enterprise-wide and regional strategy and cement the leading position in product innovation in Vietnam life insurance market.
The target profile will be talent who can be considered for future country or regional leadership roles.
Knowledge/Skills/Competencies/Education:
- Qualified actuaries with at least 15+ years relevant experience
- Strong business acumen with proven experience in stakeholder management, particularly across executive levels and external parties
- Solid financial and business acumen to analyze and evaluate the impact of product development activities on company financially and operationally
- Solid knowledge of project management discipline, project management tools and analysis
- Positively engages with various stakeholders and supports, advocates, communicates and implements change
- Excellent leadership to motivate and lead the team as they work through tight deadlines and challenges
- Collaborative mindset with good and strong negotiation and influencing skills
- Excellent presentation and communication skills
- Self-motivated, independent and with excellent interpersonal skills
- Effectively communicate with and influence stakeholders at all levels
- Excellent verbal and written communication skills
Problems/Challenges:
- Collaboration with different/multiple stakeholders both internal and external to execute product strategy
- Cement leading position in Vietnam and outpace competition including new entrants in product innovation and digitalisation.
- Alignment of interest between various functions, country and regional office
- Changing regulatory, economic and political environment in the market
Position Dimensions (Organizational Impact):
- This position will report directly to the CEO of Vietnam to develop and ensure execution of product strategy as well as maximize short, medium and long-term performance.
- The executive will also need to work closely with other function leads and teams locally and regionally to ensure proper execution of product strategy
