Key Responsibility:
- Perform monthly valuation work per Indian Statutory requirements, prepare necessary summary reports of the monthly valuation results and explain movements in reserves.
- Perform monthly and quarterly solvency margin calculations in accordance with IRDAI requirements.
- Identify Individual and group life policy data issues and work with IT/Admin team to fix them.
- Maintenance of DCS tool and valuation data along with necessary compliance controls and audit checks.
- Preparing various quarterly and annual IRDAI submission pertaining to ARA, AAAR, Actuarial Forms BAP submission, public disclosures etc.
- Performing asset share roll-forward to manage profitability and reserves of Par business.
- Performing declared bonus calculations and assist in handling requirements of the WPC committee of the Company.
- Assist in handling queries from Peer Reviewer, Statutory Auditor & IRDAI on sufficiency of reserves and solvency positions.
- Perform an annual review of the best estimate valuation assumptions and update the assumptions documentation basis the experience analysis results and other analysis performed.
- Review the assumptions used in the model with those documented for valuation basis and reconcile the cash flows generated from the models by replicating them in spreadsheets.
- Standardize and document all the business skills to contribute to business results.
Job Specifications:
- Bachelor's/Master's degree with minimum 5 actuarial exams.
- At least 4 - 6 years of working experience preferably in the valuation function of a life insurance company.
- Sound knowledge of advanced MS Excel, VBA and R programming.
- Knowledge of Actuarial software like Prophet.
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