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21/08 Vasundhara
HR at MAX Life Insurance

Views:2650 Applications:29 Rec. Actions:Recruiter Actions:4

Max Life Insurance - Senior Manager - Product Pricing (6-8 yrs)

Gurgaon/Gurugram Job Code: 734415

JOB DESCRIPTION

Job Title : Senior Manager - Product Pricing

Band : 4A

Reporting To: Vice President - Product Pricing

Department : Product Management

Location : Gurgaon, HO

JOB SUMMARY :

Product Ideation and Design :

- Collaborate in the design of new Products along with other stakeholders and play a pivotal role in product development lifecycle starting from ideation, pricing, internal and regulatory approval

- Strike a right balance between commercial considerations and risk management while recommending product designs

- Together with the product manager, provide designs which are feasible to administer within the Max Life framework

- Adherence to the product launch calendar and supporting the organization through changes

Product Pricing :

- Provide main technical inputs and ensure robustness of pricing models and Illustrations

- Ability to create and review excel models for pricing and profit testing

- Ability to provide insightful summary of the results of various iteration and sensitivities done during pricing

- Comprehensive analysis on various product design aspects in the Pricing Report

- Prepare pricing reports, F&U and other documents necessary to get internal and IRDA approval

- Active involvement in finalizing the pricing assumptions and take necessary sign offs

- Modeling products in Prophet (actuarial software)

Product Approval :

- Prepare the pricing report and facilitate approval from internal product approval committee and the Appointed Actuary

- Prepare the - File and Use- document and reply to IRDA queries

MEASURES OF SUCCESS :

- Ability to work with minimum supervision and problem solving ability

- Completion of tasks on time and at desired standards including documentation and audit trails

- Accuracy of results and comprehensiveness of the pricing model/reports

LEADERSHIP/DIRECT REPORTS :

- The ideal candidate should be proactive in taking responsibilities and capable of working effectively in a cross functional team.

JOB REQUIREMENTS :

MINIMUM EDUCATION :

- Graduate

- Qualified or nearly qualified actuary

MINIMUM/SPECIFIC EXPERIENCE :

- Minimum prior experience of 6-8 years working in a life insurance and/or actuarial consultancy is required

- Pricing experience, awareness of competitive landscape in the Indian Life Insurance market and IRDA regulations would be an added advantage

- Experience of pricing of products on excel and on Prophet would be an added advantage

COMPENSATION RANGE :

- Market competitive and based on previous salary and work experience

This job opening was posted long time back. It may not be active. Nor was it removed by the recruiter. Please use your discretion.

Women-friendly workplace:

Maternity and Paternity Benefits

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