Max Life Insurance - Manager - Actuarial

Position : Manager - Actuarial

No. of Positions : 1

Department : Corporate Actuarial

Function : Actuarial Services

Reporting to : Assistant Vice President (Corporate Actuarial)

Band : 4

Location : Gurgaon

Job Summary :

In this role, you will be mainly responsible for the following areas of work :

1. Calculating the embedded value of the Company on market consistent basis;

2. Production and actuarial review of Business Plan of Company;

3. Assisting in reporting of statutory valuation resultsto the regulator and senior management.

Key Responsibilities :

MCEV reporting :

- Calculating the embedded value on quarterly basis along with analysis of key movements;

- Ensuring robustness and accuracy of prophet models being used in EV calculation;

- Ensuring completeness and accuracy of documentation of key tasks in calculation of EV;

- Preparation of reports and investor release presentation.

Business Planning :

- Generating business plan projections and the production of actuarial review of the business plan results;

- Ensuring completeness and accuracy of documentation of key tasks in production of business plan;

- Working with Finance team to analyse plan to actual variances and incorporating them into ongoing developments.

Others :

- Assisting the PROPHET modeling requirements of the Corporate Actuarial team;

- Performing UAT of actuarial models used for calculation of EV and business plan results.

Measures of Success :

- Timely delivery of the results to enable financial reports to be prepared as per business requirements;

- Reporting of work with minimal errors through thorough checking of the results;

- Feedback from seniors;

- Feedback from team members.

Desired experience :

Qualification :

- Member of the Institute of Actuaries of India OR Institute and Faculty of Actuaries, UK

- The candidate should be associate or above (with ST2 exam passed).

Experience :

- Experience of 5-7 years in a life insurance company/consultancy.

Knowledge and skills required :

- Strong hold on actuarial fundamentals;

- Ability to perform a result oriented analysis combined with sharp articulation of key messages for the reviewer and senior management;

- Good communication skills;

- Strong prophet modelling skills;

- Proficient with using MS excel (including coding in VBA)

- Good with use of DCS tool.