Position Overview Close to qualified actuary to perform the following key tasks
- Valuation of liabilities and solvency calculation across different regimes
- Responses to regulatory queries
- Modelling new business that includes mortality morbidity products on Prophet platform
- Performing experience studies, embedded value reporting, business planning and risk management (ORSA for the India business).
- Communication with executives and maintaining excellent relationships with the cross functional local and regional teams are key components of the role.
Responsibilities - Calculating liabilities and solvency across different regimes with appropriate documentation
- Liase within cross-functional team and regional teams for valuation and different projects
- Preparing a robust framework to be able to accurately complete various regulatory forms and reports in compliance with the local statutory requirements
- Coordinating with the local regulator s inspection team and providing them necessary records for inspection
- Drafting responses to regulatory queries received
- Modeling of key business on Prophet platform for the purpose of US GAAP, Local regulatory reporting, Solvency II and Embedded Value work
- Testing existing models and validating/updating assumptions on a regular basis.
- Review experience studies and analysis on current inforce business, and propose updates to the valuation basis as appropriate.
- Guiding associates for them to be able to collect necessary inputs from the pricing and the admin teams for the purpose of building new models and updating existing ones
- Preparing necessary documentation for the new models built and quantifying the impacts on reserves
- Running the developed models for the periodic reporting requirements
- Collaborate with pricing team and be updated on the trends in business and experience which would feed into valuation work and vice versa
- Closely monitoring the evolving solvency requirements and providing necessary inputs to the finance team on Capital requirements
- Maintains, documents, and supports results, approaches, and controls used to produce and monitor results.
- Develop projections for financial planning and analysis and communicate the appropriate financial analytics, including a discussion of major drivers of variance.
- Maintain compliance controls and audit checks on the valuation data and bases.
- Support local business understanding through financial and actuarial analysis.
Requirements - Bachelor s degree in Math, Finance, Actuarial Sciences, Statistics or related field
- Having cleared 10-12 actuarial papers with at least 5years relevant working experience in life insurance/reinsurance
- Hands on experience with statutory reporting
- Computer literacy, including actuarial software (preferably Prophet) and a strong understanding of Excel, SQL and VBA
- Strong analytical, data management skills, work attitudes to details and ability to manage multiple projects simultaneously
- Highly motivated, conceptual thinker who is able to collaborate in a team environment or work independently and take a leadership role in a wide variety of assignments
- Highly advanced oral and written communication skills, demonstrating the ability to convey business terminology that is meaningful and well received by all stakeholders, including customers and associates
- Highly advanced interpersonal skills, demonstrating the ability to work effectively with different disciplines, including pricing, finance, systems, and administration
- Highly advanced ability to liaise with individuals across a wide variety of operational, functional, and technical disciplines
