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:

• Modelling: Building of models and testing for their accuracy, and preparation of need-based MIS.
• Work closely with the team/consultants to deliver the new Prophet model
• Peer review the pricing work independently
• Strategise the ALM of the Company
• 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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