Manager Actuarial

- Job location - Powai ( Mumbai )

Key search :

- Qualified Actuary OR completed 14 Actuarial papers ( CT series and ST series )

- Life Insurance experience in areas such as Valuation, Pricing, Stakeholder Reporting, Modelling (preferred Prophet)

- People management experience

Min experience : 7 -8 years for Qualified Actuary OR 10 years exp in Life insurance incase of 1 paper short of becoming a qualified actuary

Job Title : Manager - Actuarial (Level 2A) [Qualified Actuary]

Reports to : Head - Actuarial

Overall Job Purpose :

- Carry out specification and execution of actuarial projects relating as Valuation and Reporting, Pricing and Product Development, Calculations support, Deterministic and Stochastic Modelling, Experience Analysis etc- to meet project deliverables within agreed timelines.

- Manage small teams of Actuarial students / technicians engaged in the aforesaid projects

- Support business development activities

Roles and responsibilities :

Key responsibilities :

- Undertake numerical analysis and manipulation using a range of systems and actuarial tools (RAFM, Prophet etc.). Take responsibility for delivering a range of actuarial tasks, producing results to agreed standards and deadlines and approving content.

- Provide support and guidance to more junior members of the team in a range of project work as and when required. Managing the projects team and own the delivery of that team for allocated pieces of work or project management.

- Support various business development opportunities within the Prudential Group. This will include lead generation, understanding stakeholder requirements, proposal building presentation, negotiation and engagement closures.

- Manage stakeholder expectations, plan and execute work to time and quality standards, manage resource utilisation and recruitment

- Seek and act on opportunities to develop wider and deeper technical and business understanding.

- Draft and maintain up-to-date, appropriate documentation and checklists.

Performance Management - Follow and contribute to the recognised Performance Management process. Ensure delivery of People Management Pru and that all its processes and tools are fully utilised in managing people allocated to him/her.

Other Responsibilities :

Compliance - Ensure understanding and adherence to Prudential's Code of Conduct and, where appropriate, comply with all relevant regulatory policies. This includes completion of any mandatory training requirements.

Financial Controls - Ensure all expenditure commitments (orders, contracts, budgets etc) and all payments are properly authorised, controlled and monitored, in accordance with Prudential UK delegated authority requirements. The responsibilities of expenditure authorisers are documented in the Prudential UK Financial Procedures Manual.

Part responsibility of owning and driving some of the KPIs for the Mumbai team which could include - managing the P&L account, resource management, recruitment, stakeholder management, etc-

Business Influence :

- Strong commercial appreciation and attitude.

- Strong understanding of the financial dynamics of our business and how key factors influence the various financial measures.

- Ability to take decisions independently and overcome obstacles to completion

- Assist Head - Actuarial in meeting business objectives including strategic direction, recruitment, business development

People Manager :

- Ability to manage and motivate a team of actuarial student /newly qualified actuaries

- Ability to plan and prioritise own and team's workload.

- Ability to deliver on multiple tasks to demanding timescales.

- Communicate effectively with others, develop positive networks and working relationships.

- Ability to independently handle a project and carry out resource and budget management.

- Ability to build, organise and provide leadership for a team of specialist actuarial staff, with a variety of responsibilities.

- Ability to effectively influence and liaise with senior management up to Executive Team level.

- Ability to effectively provide Actuarial input to cross-divisional initiatives.

- Ability to plan, prioritise, allocate resources and delegate appropriately.

- Strong Stakeholder management skills.

Competence / Knowledge / Skills required :

- 8 - 10 years of relevant Actuarial experience

- Fellow of the Faculty or Institute of Actuaries or the Institute of Actuaries of India.

- Strong understanding of the Financial Services industry and regulatory environment.

- Some knowledge of significant regulatory processes within Prudential UK operations.

- Good level of knowledge of Prudential's business, area of operations, product lines, customers.

- As a Fellow of the faculty or institute of actuaries the person will need to follow the Continued Professional Development (CPD) Requirements as laid down by the Institute and Faculty

- Experience of financial reporting and actuarial modelling for a Life Assurance company.

- Excellent knowledge insurance industry related products.

- Thorough understanding of at least three functions / teams within Actuarial and ability to deliver on assigned tasks independently.

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