Chief Manager - Actuarial/Product Pricing - Insurance (7-12 yrs)
Context & Role:
The candidate will be responsible for managing, mentoring, and developing resources in product pricing and regulatory filing. The candidate is expected to have significant involvement in all the activities of the pricing department, have adequate job knowledge, the ability to understand and develop pricing of product features and assist the reporting manager in improving the processes. This is a cross-functional role requiring regular interaction with the product management team for pricing and product development, IT/Ops for system set-up and UAT of product features, business planning, experience analysis, and financial risk teams. Candidate should be able to maintain good relationships with teams and work towards product closure.
1. Providing accurate pricing solutions through establishing pricing models, ensure the cash-flow projections, inputs and analysis are reasonable and reliable.
2. Providing feedback on product features to arrive at smart, competitive and customer centric designs
3. Maintaining auditable model workings with adequate documentation and back-ups.
4. Developing good understanding of the product designs and anticipating the changes to be implemented.
5. Preparation/review of filing and reporting documents.
6. Interacting with IT departments for system implementations/developments/testing.
7. Interacting with other actuarial functions like risk, experience analysis and planning to arrive at pricing assumptions, impact on plan metrics etc.
8. Liaison with reinsurers for product support and treaty documentation.
Desired qualifications and experience :
1. Preferably qualified actuary or close to qualification. However, graduate / post-graduate having passed all CT level papers along with SP1 /SP2 / CP1 paper can also be considered.
2. 8 to 12 years of working experience in a life insurance company with at least two years of individual pricing experience preferred.