AVP - Actuarial - Individual Pricing

Client: Leading Life Insurance Company

Location : Mumbai - Goregaon East

Designation : AVP - Individual Pricing (Actuarial)

Key Responsibilities:

- Sound knowledge of IRDAI regulation and other professional standards.

- Work collaboratively with other departments and external stakeholders to ensure that the products designed are commercially sound meeting the company's profitability and risk profile criteria

- Strengthen the process of product pricing by ensuring the necessary documentation and audit trails.

- Ensure completion of tasks on time accurately and with desired standards

- Ensure adequate support is provided to cross functional projects

- Ensure that the accurate report/analysis is prepared within agreed time

- Support in education of stakeholders on dynamics of insurance pricing/capital management

- Ensuring competitiveness of the product basket, good returns to customers and attractive incentive structure for distributors

- Ability to work in complex cash flows models and undertake numerical analysis and report generation using a range of system and actuarial tools

- Ability to understand the Actuarial calculations and respond to the technical queries raised by other teams

- Assist in preparation of documentation for filing of the product. Ensure the compliance of extant IRDAI regulation.

- Ability to work on different calculators required for system development and other processes

- Should have good knowledge about the regulatory BAP system.

- Able to work in fast pace continuously evolving environment and ready to take up uphill challenges

- Good understanding about the Life Insurance administrative system (Life Asia & GroupAsia)

- Proactively work with other teams to ensure the timely submission of products and other requirements

Desired Candidate:

Minimum 10 Actuarial papers cleared

- Possess strong understanding of actuarial principles and product design

- 3+ years of experience in life insurance with at least 1+ years of experience in Actuarial pricing

- Possess strategic thinking, able to understand the implication of financial data and risk involved

- Possess strong verbal and written communication and interpersonal skills