Analyst/Senior Analyst
i) Life
ii) Property and Casualty
i) Actuarial Analyst - Testing
Primary and Major Job Responsibilities:
Carry out testing and validate actuarial models used for various reporting purposes (including CCAR US Fed regulatory requirements) using actuarial systems/models and tools. Ensure through the testing that various model components (e.g. premiums, reserves and non-forfeiture values etc) work as per the business requirement specification. Produce the details testing documentations as per the required actuarial quality standards.
- Perform testing of various actuarial model components (e.g. premiums, reserves and non-forfeiture values of new and existing plans of insurances) by setting up calculations in excel based tools and identify any discrepancies in the results.
- Validate the model results by performing analysis and reasonableness checks (using tools Excel, AXIS, Prophet, and MoSes etc.)
- Deliver project tasks, producing results to agreed standards and deadlines
- Provide support to senior members of the team in project related activities as required.
- Identify any process improvements
- Produce detailed testing/validation documentation as per the required actuarial quality standards
Job Requirement & Qualifications:
Analytical/problem solving skills
Bachelor's degree in Mathematics/Statistics
1-3 years of relevant work experience
- Bachelor's degree plus at least 3-4 preliminary actuarial exams (e.g. 4 CT series exams of IoA UK / IAI India or 3 preliminary SoA exams)
- Knowledge including calculus, statistics, and probability; introductory level knowledge of actuarial mathematics
- Computer skills - MS Excel, Advance Excel, Word, Power Point
- Basic business sense of financial, accounting, and economics aspects of business
- Well-developed analytical skills and ability to understand & analyze actuarial calculations
- Ability to confidently express own viewpoint and to clearly communicate results
- Ability to review existing processes within the team and propose process improvements
- Ability to set up calculation in Excel spreadsheet in line with the model specifications
Any knowledge of the following would be an added advantage:
- Excel VBA programming
- User level knowledge of any modelling platforms like GGY AXIS, MoSes, Prophet. would an added advantage.
- MS Access, SQL
The candidate is required to display the behavioural competencies for example-
- Attention to Detail - Thoroughness in accomplishing a task. Checks work or information and plans and organizes time efficiently.
- Dependability / Reliability - Creates confidence in others to be relied on to meet job responsibilities and requirements.
- Optimism - Persistence in pursuing goals despite obstacles and setbacks.
- Positive Attitude - Promotes positive interactions across all levels.
- Self-Control - Managing disruptive emotions and impulses.
- Trustworthiness - Maintaining standards of honesty and integrity.
ii) P&C-Model Validation: Property and Casualty
- Experience - At least 4 years of experience in General Insurance - mainly in P&C domain. Candidates working with US or UK captives will be better fit.
- Expertise - Model validation, Model building, Pricing, reserving, assumptions setting etc.
- Education - Masters degree in- Statistics/Actuarial Science/Economics/Finance/Mathematics from a reputed institute, -or- B.Tech from major IITs.
- Actuarial Exams - Good Progress in actuarial exams - 5 CT exams or Equivalent would be ideal
- Modelling tools - Knowledge of modelling tools such as - SAS, Emblem, ResQ, Matlab, SPSS, Excel VBA - would be added advantage.
- Communication - Excellent Oral and written communication. Experience of report writing would be a plus.
Didn’t find the job appropriate? Report this Job