Assistant Manager - Actuarial & Quants - Life Insurance

To work under the direction of an Actuarial Manager or other senior members.

The job would involve carrying out the tasks for the process to meet deliverables with an acceptable standard of quality and within agreed timelines. It may also involve delivering through junior members.

Primary Key Responsibilities (Top 3-5 KRA)

- Safely deliver BAU requirements in respect of Quarterly/Annually With-Profits valuation cycle. Provide support to reconcile the value of liabilities such that the unexplained component is minimised. Support the manage to analyse the reason of change in with-profits liabilities. Support the team to make high quality reports which require minimal management restructuring, and anticipate and address majority of stakeholder challenges to minimise follow-on questions and work.

- Provide support to reconcile the value of Asset Share.

- Provide support to monitor the Quarter-on-Quarter change in with-profits liabilities. Clearly communicate outcomes in a controlled manner to agreed timescales to the manager.

- Provide support to perform the quarterly/annually reporting of with-profits liabilities' Quantitative Reporting Templates to the Prudential Regulation Authority. Ensure that the delivery is done in a well-controlled and efficient manner, enhancing controls where necessary, avoiding errors leading to significant rework.

- Continue to enhance process level controls and ensure proper documentation.

Additional responsibilities

- Work closely with colleagues at different geographical location, ensuring seamless communications.

- Seek and act on opportunities to develop wider and deeper technical and business understanding of with-profits valuation.

- Build good working relationships with stakeholders in wider team and outside of the team.

- Monitor business and external developments related to own area of responsibility and propose consequent changes to established procedures.

- Maintaining effective communication with Stakeholders and leadership team members.

- Understand the key issues the team is facing and how these can be addressed

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

Problem Solving:

- Maintain and develop knowledge of technical requirements of job together with the framework in which India operates.

- Ability to confidently express own viewpoint and to clearly and simply communicate actuarial issues within their team.

- Ability to develop clear, workable plans for self; monitor progress; ensure deadlines and commitments are met.

- Ability to think through issues at hand (Technical) and propose line of action, solution and way forward.

- Ability to review existing processes within the team and propose structured and executable process improvement initiatives.

Working Together:

- Ability to plan and prioritise own workload.

- Ability to deliver on multiple tasks to demanding timescales.

- Good level of Stakeholder management skills.

- Ability to effectively influence colleagues.

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

Knowledge & Skills (Must Have):

- Confidence & excellent communication.

- A student member of the Institute or Faculty of Actuaries and / or Indian Institute of Actuaries with 4-8 exams cleared.

- Actively studying for and making satisfactory progress with the Institute / Faculty exams as defined in the Mumbai Actuarial Study Support Policy.

- Good MS Excel; MS Word knowledge.

- Good understanding and experience of reporting measures such as SII and IFRS17.

Knowledge &Skills (Additional):

- Added advantage for experience in valuation team.

- Awareness of the regulatory environment.

- Good level of business influence skills like commercial appreciation and attitude required.

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

Experience:

- 3-5 years of relevant Actuarial experience (preferably valuations).

- Experience in life insurance domain.

Educational Qualification:

- Graduate in any discipline / Masters in Actuarial Science / Statistics / Economics / Mathematics / Engineering / MBA

CTC - Rs 18 - Rs 20 lpa (Fixed) + Variable