The person will be responsible for:
- Monthly reinsurance premium calculation using RENOVA
- Ongoing checks of reinsurance premium calculations and audit queries.
- Ensure accuracy of reinsurance premium calculation while ensuring consistency with statutory provisions, impact on VNB margins, solvency through reinsurance calculations
- Constantly improving calculations based on established practices on SAR
- Keep tab on reinsurance profitability on the financials every month
- Quarterly Reporting of LR forms for reinsurance
- Experience analysis namely mortality, persistency and reporting on a monthly basis in actuarial dashboard to drive operational improvements
- Assist in expense allocation optimisation strategy
KEY PERFORMANCE INDICATORS
- Qualitative Superior understanding of calculations of reserves, reinsurance and solvency, Good model controls
- Quantitative Accuracy of the numbers produced by the model for financials, IRDAI reporting and management reporting
- Drive to improve and refine calculation methods to optimise solvency and profitability
- Methodical in documenting maker ad checker process to assist
ERM WORK EXPERIENCE
- 5-6 years with substantial experience in areas of experience analysis, reinsurance and reporting
- Above Par excel and VBA macro skills
- Understanding of SQL queries and reinsurance administration systems
- A good understanding of Embedded Value Reporting, VNB and shareholder profitability metrics and impact of reinsurance
- A good understanding of sources of profitability and experience monitoring
QUALIFICATIONS - Cleared CT Subjects
COMPETENCIES
- Excellent communicator both within internal actuarial peers and reportees as well as to the non-technical colleagues within the company
- Team player with ability to interact with other stakeholders and get the required support in delivery of goals.
- An attitude to drive business and results
- Strong written and analytical skills - interpret financial results, produce well-structured and clearly written reports
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