Actuary

Our client is a domestic life insurer in JV with a global player. They have the following multiple Actuarial roles for urgent appointment.

Position 1: CM/AGM/Mgr- Statutory Valuation

Budget:

• AGM/CM - INR 45 LPA fixed;
• Manager INR 20 LPA fixed

Context & Role:

• Ensure new Prophet model development with all necessary flexibility, including stochastic modelling
• Independent review of product pricing
• Work closely with the ALM & Investments team to strategise around matching

Key Responsibilities:

1. Modelling: Building of models and testing for their accuracy, and preparation of need-based MIS.
2. Work closely with the team/consultants to deliver the new Prophet model
3. Peer review the pricing work independently
4. Strategise the ALM of the Company
5. The role also involves liaison and communication with other functions such as finance, investment and IT.

Desired qualifications and experience:

• Qualified / nearly qualified
• At least 10 years experience

Knowledge and skills required :

• Good working knowledge of MS-Excel and MS-Access. Exposure to CQL will be an added advantage.
• Working knowledge/exposure in actuarial software such as Prophet is preferred.
• Domain exposure to the insurance industry
• Knowledge about the policy admin system will be treated as an advantage.

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Position 2: Chief Manager- Pricing Actuary

Budget: INR 35 LPA fixed

Context & Role:

• The role requires a good understanding of actuarial pricing concepts and cash flows of life insurance products
• The role requires effective management of various stakeholders requirements. Therefore, a quick turnaround time without compromising the accuracy of calculations is necessary

Key Responsibilities:

• Building pricing model in Excel/prophet/R
• Assist in setting assumptions for pricing
• Preparation of filing formalities
• Building / Validation of Excel calculators for Benefit Illustration
• Handling customer/IT queries related to benefit calculations
• Assisting the IT and Modelling team in setting up the Products
• Meeting any pricing-related regulatory requirement within specified timelines
• Meeting any requirements from management regarding new products within timelines

Desired qualifications and experience:

• Any graduate / post-graduate with at least 8-9 actuarial papers.
• 6- 8 years of relevant experience in pricing, modelling or reporting roles in a life insurance company.

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