Actuaries Role - Life Insurance Business

Roles & Responsibilities

Model Validation & Risk Assessment

- Perform validation of actuarial models used in Life Insurance (valuation, embedded value, risk-based capital, solvency reporting).

- Assess model inputs, assumptions, methodologies, and outputs to ensure compliance with regulatory and internal standards.

- Provide assurance on model accuracy, conceptual soundness, and appropriateness of use.

Financial & Regulatory Reporting

- Support Economic Capital / Risk-Based Capital / Solvency II frameworks.

- Contribute to Embedded Value reporting and IFRS17-related work.

- Ensure timely and accurate reporting in line with local and global compliance requirements.

Documentation & Communication

- Prepare high-quality reports summarizing model validation findings and risk implications.

- Translate complex technical outcomes into clear insights for senior management, non-technical stakeholders, and regulators.

- Maintain documentation to meet audit and regulatory expectations.

Stakeholder Management

- Collaborate with business teams, model developers, and regulators to resolve identified model issues.

- Build strong relationships across 1LOD, 2LOD, and 3LOD stakeholders.

- Provide guidance to junior team members and contribute to knowledge sharing.

Governance & Compliance

- Ensure adherence to global Model Risk Management policies and regulatory requirements.

- Support embedding of new model risk policies and frameworks across insurance functions.

- Contribute to strengthening internal controls and maintaining a positive risk-aware culture.

Leadership & Development (for senior levels)

- Lead validation projects end-to-end, including planning, execution, and stakeholder engagement.

- Mentor junior actuarial team members, driving excellence in model risk and compliance.

Must-Haves

- Economic Capital / Risk Based Capital / Solvency II

- Embedded Value Reporting

- IFRS17 (preferred)

- 12+ Actuarial exams (India / UK institute)

- Strong stakeholder management & report writing skills

Not Relevant

- Group pricing / quotations

- Benefit Illustration

- Policy admin system

- Health Insurance

Organizations to avoid: Offshoring centers (AON, Metlife, WNS, Mercer, Swiss Re, CSC Noida).