Mr. Joseph Daryl Abesamis
Senior Manager for Risk Management
For me, each day is different. One day I can be at my desk running Excel models, another day I can be attending a press conference for a product launch.
I am a Senior Manager for Risk Management at Manulife Cambodia. I joined Manulife in 2011 in Manila, and moved to Phnom Penh in 2014.
As an aspiring Actuary, my roles have generally included the pricing and development of life insurance products. More recently, I have also headed the risk management function, assessing the company’s risk exposures, and looking for creative ways to actively monitor, mitigate and manage the various risks that we face. Additionally, I am an Associate of both the Society of Actuaries in the U.S. and the Actuarial Society of the Philippines.
Before joining Manulife, I was doing actuarial valuation of employee retirement plans in an HR consulting firm. That was my first job; I worked there for 1½ years. In Manulife Philippines, I was primarily working with other actuaries in developing and pricing new life insurance products. When I was studying at university, I saw that publications always ranked Actuaries as a top career choice, in terms of physical demands, job security, and stress. Because I was studying mathematics, it fit my skill set and I decided to pursue it. For me, each day is different. One day I can be at my desk running Excel models, another day I can be attending a press conference for a product launch.
My position also requires that I speak with people from different parts of the company, which can be challenging because I need to communicate without being too technical. However, I like to be involved in big projects, and as head of risk management, I guide the team in assessing and controlling the risks involved in these projects. I try to catch problems before they become problems. I must see all parts of the company clearly, and how all the pieces fit together. Because actuarial training requires one to understand various aspects of the business (marketing, accounting, distribution, regulations, operations, investments), there are many career paths I can take, in and out of the insurance industry. It is not uncommon for actuaries to become CFOs, COOs, CMOs and even CEOs. With the Cambodian economy growing fast, I expect demand for Actuaries to increase in the near future.