AVP - Life Insurance Actuarial - BPO

Hiring for a leading BPO:

Focus of the Function: Client, in-sources - Actuarial Analytics- processes. The Objective of this client's operations unit has to tie into the overall aims of different stakeholders. The group aims to provide a high standard of service for Insurance Actuarial Analytics and therefore its end clients. - Lead the global actuarial, risk and analytics operations for life and retirements client - Develop further the Life actuarial capability - people, tools, and processes

Why does this job exist: To service client and lead their actuarial, risk and data management group

How does the role add value: - Operations leader for client's India actuarial modeling unit - Demonstrable depth in Actuarial domain- helping win new stakeholders and thus projects, coach and mentor existing teams to move along the service value chain, provide consulting depth to customers in the Actuarial space

How is this role unique from others: - There are multiple regulatory changes and increased competition impacting the existing US Life Insurance industry. We need business and technical representative who are completely familiar with the local US regulations and products. - It is not possible to source resources due to lack of experience and knowledge of US industry and products. The combination of insurance industry breadth, depth in actuarial domain and geographic coverage make this a very specific role - Ability to seamlessly blend consulting (consultative skills, good project management) and operational (people management practice know-how on industry actuarial processes, analytical) skills and be accountable for the results

What are the minimum prior qualifications to be an applicant for this role: Candidate with good actuarial exam progress (Associate/Fellow is not mandatory) Min 10 years of experience in Life Insurance Industry managing large teams for global insurance companies Understands concepts of US Statutory and GAAP reserve methodologies and Market consistent valuation. Has managed projects independently and run operations for global insurance companies

Specific competences ( Essential)

- Experience with the US Life & Retirement Insurance space is required - Thorough knowledge and prior experience in the following areas - Financial Reporting on various accounting bases, including projections of principles based reserves and capital and forward market-consistent valuations of liabilities. - Understand actuarial spectrum of services and solutions - Excellent communication - verbal and written with strong Presentation skills - Ability to engage & influence senior client stakeholders - Strong business acumen and understanding of insurance markets/products - Strong interpersonal and relationship skills including experience in managing multiple people and projects and producing quality deliverables on time and within budget

Key Roles and Responsibilities

In summary: opportunity to help client build its operational and consulting capabilities to strengthen its insurance practice

- Client Relationship Management: Liaison with clients to understand requirements and conceptualize solutions, Owns and leads project delivery, Reviews outputs prepared by the team and adds business rationale; sign off of results and supervises junior actuaries - Strong Domain of Actuarial Modelling: Developing detailed documentation of model design, processes, deficiencies, and validation in accordance with corporate and regulatory standards - Familiarity with US Statutory and GAAP reserve methodologies - Service Delivery and People Leadership: Management of a team of actuaries who will support actuarial modeling and testing, including communication of project objectives and direction to these actuaries and - Leading communication, including serving as a key point of contact for actuarial modeling in the center, producing regular reports on team activities for project leadership and senior management committees, and participating in regular team meetings to track progress and issues with project

Team Management experience is a must.

Essential - 10+ years life actuarial in delivering services to Tier 1 and 2 insurance companies, strong operationally - Proficiency with actuarial modelling software is preferred. Examples include Prophet, GGY Axis, MG-ALFA, MoSes, TAS, PTS, etc. - Advance Proficiency with Microsoft Excel, including VBA, is required. - Excellent written and oral communication skills, including proven ability to write clear concise memos. - Must be self-motivated and able to work independently. - Should have led team of actuarial modelers in past - An executive presence with excellent written and oral communication skills - Ability to influence and collaborate with senior management and work across all levels of an organization - Willingness to travel globally