The Company
Our client is a leading reinsurance company within Indonesia’s state-owned enterprise ecosystem, operating under the Indonesia Financial Group. They play a critical role in strengthening the national insurance and reinsurance landscape, offering long-term career stability and opportunities for cross-entity mobility within the group. They combine institutional strength with ongoing transformation initiatives to enhance technical capabilities and governance standards.
The Role
The Head of Actuarial Division is a BOD-1 level leadership role, responsible for overseeing the company’s end-to-end actuarial function, including reserving, pricing, and regulatory compliance. This role is highly strategic, serving as a key advisor to the Board of Directors on actuarial matters, financial risk, and business sustainability. The successful candidate will play a pivotal role in strengthening actuarial governance and supporting data-driven decision-making across the organization. Reporting directly to the Board of Directors, this role will lead and manage a team of approximately 10 actuarial professionals.
Responsibilities
1. Actuarial Leadership & Strategy
- Lead the overall actuarial function, ensuring alignment with business strategy and regulatory requirements.
- Act as a strategic partner to senior leadership on risk, pricing, and capital considerations.
- Drive continuous improvement in actuarial methodologies and frameworks.
2. Reserving & Financial Reporting
- Oversee actuarial reserving processes for both life and/or general reinsurance portfolios.
- Ensure adequacy and accuracy of reserves in line with regulatory standards and internal policies.
- Support financial reporting processes, including actuarial inputs for financial statements.
3. Pricing & Product Support
- Provide actuarial pricing support across reinsurance products.
- Ensure pricing adequacy and competitiveness while maintaining risk discipline.
- Collaborate with underwriting and business teams on portfolio optimization.
4. Regulatory & Actuarial Studies
- Lead actuarial studies and ensure compliance with Indonesian regulatory standards, including PSAK frameworks.
- Liaise with regulators, auditors, and external stakeholders on actuarial matters.
5. Governance & Risk Management
- Strengthen actuarial governance, controls, and documentation.
- Ensure alignment with enterprise risk management frameworks.
- Provide insights into capital management and solvency.
6. Team Leadership & Development
- Develop and mentor actuarial talent within the organization.
- Foster a high-performance, collaborative, and technically strong team culture.
Requirements
Mandatory
- FSAI (Fellow of Society of Actuaries Indonesia) – required
- Minimum ~3 years of experience at BOD-1 level or equivalent senior leadership role
- Strong expertise across:
- Actuarial reserving
- Pricing
- Regulatory actuarial studies (PSAK)
Preferred
- Experience in reinsurance or insurance industry.
- Strong stakeholder management and communication skills.
- Proven ability to lead teams and influence senior decision-making.
Benefits
- Strategic impact: Direct influence on company-level decisions and financial sustainability.
- Leadership visibility: Close engagement with Board of Directors.
- Institutional platform: Part of a major SOE holding with long-term stability.
- Transformation opportunity: Chance to shape and elevate actuarial function within a legacy organization.
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