About This Role
This role involves performing actuarial calculations, developing product pricing, and conducting experience studies to support insurance operations. The Actuary will also build and maintain actuarial models and prepare reports for various stakeholders, ensuring compliance with regulations and accounting standards.
Responsibilities
- Perform periodic technical reserve (reserving) calculations in accordance with OJK regulations and applicable accounting standards, including PSAK 117
- Develop pricing for new insurance products and conduct repricing of existing products
- Conduct experience studies (mortality, morbidity, lapse, and claims) to support actuarial assumptions
- Build, maintain, and validate actuarial models (valuation, pricing, and projection) to ensure they are accurate and well documented
- Prepare actuarial reports for internal stakeholders, auditors, and regulators, including RBC/solvency reports
- Support product profitability analysis, asset-liability management (ALM), and business planning
- Coordinate with underwriting, claims, finance, product, and IT teams on data needs and product implementation
- Ensure the quality and integrity of data used in actuarial calculations
- Keep up to date with regulatory developments and actuarial practice standards, and provide recommendations on their impact to the company
Requirements
- Bachelor’s degree in Actuarial Science, Mathematics, Statistics, or a related field
- Has passed several Society of Actuaries of Indonesia (PAI) exams; ASAI designation is a plus (for senior level: ASAI/FSAI required)
- Minimum 1–3 years of actuarial experience at a life/general insurance company, pension fund, or actuarial consulting firm (fresh graduates are welcome for staff level)
- Understanding of reserve valuation, pricing, and OJK regulations in the insurance industry; knowledge of PSAK 117/IFRS 17 is a plus
- Proficient in Microsoft Excel (including VBA)
- Strong analytical and problem-solving skills, meticulous and detail-oriented
- Able to clearly communicate technical findings to non-actuarial stakeholders
- Able to work both independently and in a team, and to perform under tight deadlines
- Good command of English, both spoken and written
Nice to have:
- Familiarity with actuarial software (e.g. Prophet, AXIS, MG-ALFA) and programming languages such as Python, R, or SQL is a plus