External Collaborator - National Junior Actuary

Introduction

The International Labour Organization is working with the Thailand Social Security Office (‘SSO’) in building up actuarial capacity within the SSO over a period of four and a half years.

As part of the project, the Social Security Office will undertake two actuarial valuations. The first actuarial valuation of the WCF was completed in early 2021. In the next 12 months, the main actuarial valuation will be carried out as well as a range of different actuarial work related to the provision, design and financing of social security benefits.

The Actuarial and Research Bureau within the SSO requires additional resources to carry out its tasks particularly actuarial staff. There are currently two SSO staff with actuarial background and their work is overseen by the senior actuary Chief Technical Advisor from the ILO. Whilst the long term aim of the Actuarial and Research Bureau within the SSO is to build up staffing resources though permanent recruitment (as set out in the Staffing Requirements document), the appointment of an external collaborator for a period of 12 months will prove an important bridge in resources at this critical time. 

We are therefore looking at recruiting a junior actuary to the project. The external collaborator will play an important role in ensuring good actuarial work can be undertaken and delivered to stakeholders. He/she will be able to draw on the expertise and guidance of the CTA as well as wider SSO and ILO resources. It is a good opportunity for a junior actuary to develop work experience in an interesting and rewarding environment.
 

Main Responsibilities

Works with the International Labour Organization’s senior actuary and Social Security Office’s actuarial team on the following tasks:

•    Conducting the Actuarial Valuation of the Social Security Fund, including all branches of benefits (Sickness, Maternity, Disability, Death, Child Allowance, Old-Age, and Unemployment) for the mandatory scheme Article 33, and voluntary schemes Article 39 and Article 40.
•    Conducting actuarial analysis, including cost analysis and benefit design, to improve existing schemes with the objective to extend affordable and adequate social security coverage to more workers.
•    Reviewing short-term cash flow and reserve projections on quarterly basis and provide other actuarial support for social security investment.
•    Enhancing data capabilities and conduct on-demand social security policy analysis works which require actuarial inputs. 
    

Required qualifications

•    Has passed at least 1 professional actuarial exam and has had taken at least one actuarial course at university  
•    Able to communicate effectively in English and Thai including in writing
•    Proficient at using Microsoft Excel with large data sets and using macros
•    Comfortable with undertaking quality actuarial analysis and interpreting results
•    Has a background knowledge of social security
•    Expertise in the use of other analytical tools is a bonus

Management, Tasks and Outputs

Management, monitoring and supervision of the external collaborator’s work will be the responsibility of the ILO and SSO. The ILO will set out the activities and outputs to be completed every month by the first of each month. At the end of each month, the external collaborator will submit short monthly reports which set out the activities undertaken and any deliverables produced. On approval of this report, the external collaborator will invoice the ILO for the work undertaken.

Duration and Fee

Contract period: 1 November 2021 to 31 October 2022

The external collaborator will be paid US$ 120.- per day for 216 working days, for a total remuneration of US$ 25,920.