Senior Actuarial Officer
Bangkok Union Insurance Public Company LimitedFinancial/Banking/Securities, Insurance
Today
Full Time
10 - 15 Year
Bangkok and its Vicinity
Bachelor's Degree or Higher
Negotiable
1. Financial Calculations and Analysis
Calculate insurance reserves, including Premium Liability and Claim Liability, for various products.
Analyze and assess risks associated with reserve calculations.
Determine appropriate insurance premiums by analyzing statistical data and market trends.
Adjust insurance premium structures to align with market conditions and risks.
2. Data Management and Reporting
Manage data from all reports issued by the actuarial department securely and efficiently.
Develop monthly portfolio data tools to enhance the efficiency of the Underwriting department and other departments.
Prepare operational reports and actuarial reports as assigned.
Develop assumptions used in calculations and analyses.
3. Product Development and Marketing
Collaborate with the product development team in designing and developing new insurance products.
Assess the financial feasibility and risks of new products.
Support the work of agents, marketing teams, agencies, and other departments.
4. Risk Management and Analysis
Assess and analyze the company's insurance risks.
Develop and improve risk models.
Ensure that underwriting aligns with the company's target groups.
Verify that underwriting through various channels aligns with company goals and channel risk management.
Implement risk management policies and procedures to ensure proper monitoring and accurate impact assessment.
Proactively address undesirable developments in the company's loss ratios and claim frequencies.
5. Compliance with Standards and Regulations
Possess basic knowledge of the new accounting standard IFRS 17 (considered an advantage).
Update and develop calculations in accordance with changing accounting standards.
Monitor changes in insurance-related regulations.
Provide advice on compliance with financial requirements and reporting to regulatory bodies.
Stay informed about new laws, regulations, rules, or criteria from relevant government agencies related to operations, such as the Securities and Exchange Commission (SEC), Anti-Money Laundering Office (AMLO), Office of Insurance Commission (OIC), or Bank of Thailand (BOT).
Analyze the impact of regulatory changes on company operations and recommend appropriate adaptation strategies.
6. Strategic Planning and Business Development
Support business strategy planning through in-depth data analysis.
Prepare financial forecasts and performance estimates.
7. System and Tool Development
Develop and improve systems and tools used for data analysis and actuarial calculations.
Design and develop dashboards for monitoring key financial and insurance Key Performance Indicators (KPIs).
8. Training and Knowledge Development
Conduct internal training on actuarial principles for other departments.
Serve as a technical consultant for questions related to actuarial calculations.
9. Research and Development
Monitor trends and innovations in the insurance industry.
Conduct research to improve actuarial methods and models.
Age
Between 40-50 years old
Education
Bachelor's degree or higher in Mathematics, Statistics, Actuarial Science, Economics, or related fields
A Master's degree in a related field will be considered an advantage
Experience
Minimum of 5-10 years of experience in actuarial work or risk analysis
Experience in non-life insurance business will be considered an advantage
Knowledge and Skills
Strong understanding of actuarial principles and risk management
Proficiency in statistical data analysis and use of data analysis software
Knowledge of IFRS 17 accounting standards will be considered an advantage
Understanding of regulations and compliance requirements related to the insurance industry
Licenses and Certifications
Holding an actuarial license or being in the process of obtaining one will be considered an advantage
Other relevant certifications such as CFA, FRM will be beneficial
Personal Skills
Excellent communication skills, able to explain complex concepts in simple terms
High attention to detail and accuracy when working with numbers
Strong teamwork and ability to collaborate with multiple departments
Excellent analytical and problem-solving skills
Effective time management and project management skills
Language
Fluent in Thai, both speaking and writing
Good English skills, especially in reading and writing technical reports
Other Qualifications
Enthusiastic about continuous learning and self-development
Ability to work under pressure and manage strict deadlines
Strong work ethics and ability to maintain confidentiality of company and client information
- Provident Fund
- Staff training and development
- Marriage gift
- Recreational allowance
- 5-day work week
- ประกันชีวิต
- Social security
- Health insurance
- Accident Insurance
- พักร้อนประจำปี
- Ordination leave
- สิทธิการเบิกค่าทันตกรรม
- Funeral payment support
- Performance/results-based bonus
Company reviews about ‘Good Life Good Work Good Pay Good Community’
Bangkok Union Insurance Public Company LimitedBangkok Union Insurance Co., Ltd. was established on February 5, 1929 with an objective to be the first Thailand’s provider of fire insurance. With strong business commitment and trust from clients, Bangkok Union Insurance’s insurance premium growth has increased by 5.83 per cent. Its operational standard is certified by the ISO 9002 which was granted by RWTUV on February 17. In addition, to enhance its competitiveness, the company has focused on research and development for manufacturing new products and developing existing products according to clients’ demand. We are looking for smart people to join our growth business.
Location175-177, Surawong Rd., Suriyawong, Bangrak, Bangkok 10500
Contact person-
Telephone0-2233-6920, 0-2238-4111 ต่อ 223 หรือ 088-022-0614 Fax 0-2237-1856 # 201
Website
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