Head of Actuarial Division

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.