Chief Actuary - Macau Based

About the Role

The Macau‑based insurance platform operates both life bancassurance and general insurance businesses. The life segment focuses on cross‑border savings and protection solutions targeting high‑net‑worth clients and represents a key growth pillar for the wider group. The general insurance segment maintains stable profitability underpinned by prudent underwriting practices.

Given rapid growth in participating savings policy volumes, we are seeking a fully‑qualified, regulator‑registered Chief Actuary to own end‑to‑end actuarial oversight. You will be accountable for regulatory compliance, actuarial modelling, product pricing and liability risk management, working closely with the Macau Monetary Authority (AMCM).

Key Responsibilities

Statutory & Regulatory Actuarial Accountability

• Serve as the AMCM‑appointed and registered Chief Actuary, holding formal legal accountability to the local regulator. Sign off on statutory actuarial valuation reports, liability reserve assessments and participating bonus fairness testing deliverables.
• Lead solvency calculations, implementation of local Macau solvency requirements together with HK‑RBC framework, and IFRS 17 actuarial valuations. Build consistent underlying models for statutory reporting and support full validation for internal and external audits.
• Own regulatory engagements including AMCM on‑site inspections, regulatory enquiries and remediation initiatives. Monitor evolving local actuarial rules and translate regulatory updates into internal policies and procedures.
• Oversee bonus realization rates for participating policies, balancing policyholder benefits, distribution commission structures and shareholder returns, and deliver annual regulatory‑required bonus fairness reviews.

Actuarial Modelling & Financial Reporting

• Take full ownership of the end‑to‑end lifecycle of Prophet actuarial models including development, enhancement, validation and ongoing maintenance. Drive model change testing and assumption updates to ensure robust model outputs across life and general insurance lines.
• Develop Technical Embedded Value (TEV), economic capital and Asset‑Liability Management (ALM) analytical frameworks. Produce monthly / quarterly / annual actuarial business reviews, profit‑attribution and capital‑consumption analysis to inform senior‑management decision‑making.
• Reconcile and align multiple reporting streams: AMCM statutory filings, IFRS 17 financial statements, group management reports and channel‑specific product profitability analyses, ensuring cross‑reporting data integrity and logical consistency.
• Manage modelling‑team resource planning, project timelines and delivery quality. Establish formal controls for model quality assurance, version governance and issue tracking.

Bancassurance Product & Commercial Actuarial Support

• Lead full‑cycle actuarial work for cross‑border bancassurance savings and protection products: pricing, profit‑testing, channel‑commission modelling and long‑term cash‑flow forecasting tailored for Mainland high‑net‑worth customer segments.
• Supervise general‑insurance reserve computations, reinsurance arrangements and underwriting‑risk quantification to sustain stable underwriting performance.
• Partner with banking distribution partners, sales, investment and finance functions. Provide expert actuarial advice for product enhancement, channel expansion and ALM strategy, balancing business growth against risk‑ and‑capital constraints.
• Conduct market intelligence on Greater‑Bay‑Area cross‑border bancassurance landscape and competitor pricing, and prepare feasibility assessments for potential product innovation.

Team Leadership & Cross‑jurisdictional Group Collaboration

• Manage the full Macau actuarial team covering product, valuation, modelling and risk‑actuary functions; cover performance management, talent development, recruitment and succession planning.
• Act as dual‑point liaison with group‑headquarters actuarial, risk and bancassurance functions. Escalate Macau‑market business performance, capital requirements and regulatory risks, and roll out group‑wide actuarial standards locally.
• Collaborate with European group insurance headquarters on cross‑border reporting, foreign‑exchange‑liability measurement and group‑level global‑capital‑allocation exercises.
• Establish efficient cross‑regional communication workflows and manage multi‑stakeholder expectations for modelling, regulatory and IFRS 17 transformation programmes.

Requirements

• Bachelor’s degree or higher in Actuarial Science, Mathematics, Financial Engineering, Statistics or related quantitative disciplines. Hold an internationally‑recognised actuarial fellowship (FIA / FAI / FCAS or equivalent) accepted by AMCM and eligible for Macau regulatory registration.
• Minimum 10 years of comprehensive insurance‑actuarial practical experience, including at least 5 years in senior‑actuarial‑leadership / Chief‑Actuary capacity within Hong Kong or Macau life‑insurance markets, with proven hands‑on experience on bancassurance participating‑saving product portfolios.
• In‑depth knowledge of AMCM Macau insurance regulatory requirements, local solvency rules and participating‑policy supervision. Solid practical track record delivering IFRS 17 and HK‑RBC implementations, and experience producing independent statutory actuarial opinions for Hong Kong / Macau markets.
• Advanced practical proficiency with FIS Prophet ALS software. Proven track record delivering large‑scale life‑insurance‑model build‑outs, upgrades and IFRS 17 transformation projects. Strong capability in advanced Excel‑based modelling, testing and validation.
• Exposure to both life‑participating and general‑insurance actuarial management is highly desirable. Previous working experience within European‑headquartered insurance groups will be viewed favourably.
• Fluent written and spoken Mandarin and English. Portuguese language capability is a strong plus. Comfortable producing C‑suite‑level reports and conducting high‑level regulatory and business negotiations.
• Demonstrated project‑management skills, ability to prioritise multiple workstreams and drive cross‑party alignment. Capable of balancing commercial‑growth ambitions, compliance obligations and capital constraints.
• Strong people‑leadership track‑record including actuarial‑team building, talent development and performance governance. High risk‑awareness, strong attention to detail and rigorous quantitative‑analysis mindset.
• Experience working within multinational‑group governance structures, aligning with overseas headquarters and managing multi‑jurisdictional regulatory‑co‑ordination matters.

Nice‑to‑Have Qualifications

• Existing AMCM‑registered actuarial status in Macau
• End‑to‑end project experience launching cross‑border Mainland‑Macau bancassurance products
• Hands‑on experience with automation tools including PathWise, Python or Alteryx
• Prior senior‑actuarial‑leadership tenure at leading Hong Kong / Macau insurance carriers